Reveals Plan to Finance Palestinian Developments on International Scale
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Reveals Plan to Finance Palestinian Developments on International Scale

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The phrase, “a statesman-like instrument for the solution of the Jewish problem”, was used by Nathan L. Goldstein, New York attorney, who returned to New York this week after a trip abroad, where he closely examined the economic conditions of Palestine, to describe the Zionist movement and its significance to world Jews.

Mr. Goldstein discussed the impressions he received from a three months’ study of the Holy Land, and after a statement as to the need for men and money to finance industrial growth there, he disclosed the fact that a finance company is at work on a scheme to develop Palestinian enterprises.

“Already leading financiers and industrialists in several European countries as well as in Egypt and South Africa, realizing the need for investment capital in Palestine and evidently satisfied with the safety of the investment and the adequacy of the returns, have organized a financial company to finance and develop sound Palestinian enterprises,” said Mr. Goldstein.

“The company proposes to act as a house of issue for approved Palestine securities which will be listed on various exchanges throughout the world, thus affording to Jews of limited means the opportunity of making an investment in Palestine. The company will be registered in Palestine but will probably have subsidiaries in various European countries as well as in America. Final organization plans are now being completed in London and a public announcement of the founders and officials of the company may soon be expected.”

The Holy Land is in the pioneer state and if the thousands who are clamoring for admission are to be accommodated, business and industry must be developed. Mr. Goldstein said that about 35,000 is the expected immigration figure this year.

Speaking of the recent World Zionist Congress which he attended during its sessions in Prague, Mr. Goldstein said:

“The Congress met under the shadow of the German situation. That is the main topic of conversation everywhere in Europe and people are horrified by what is going on in Germany. The necessity for the future emigration of more than 500,000 German Jews has already created an international problem and in view of the unemployment in most countries, this problem is difficult of solution.”

The Jewish people as a whole was represented at the Congress, said Mr. Goldstein. It is the “international forum” for the discussion of Jewish problems, and reports regarding the conflicts which took place during the Congress were “somewhat overdrawn and exaggerated,” he added.

Suffering Jews in Poland and other European nations will seize an opportunity to settle permanently in Palestine, provided the economic problems are satisfactorily met, said Mr. Goldstein.

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