Israel Bond Goal: $450m in 1972 $126,460,000 Raised in Pre-inaugural Sale

Subscriptions for Israel Bonds from communities in the United States and Canada in the unprecedented amount of $126,460,000 initiated the 1972 campaign to raise a record sum of $450 million for the economic absorption of a rising number of immigrants to Israel, Israel Bond Organization officials announced here yesterday. The announcement of the large pre-inaugural sale was made by Sam Rothberg, general chairman of the Israel Bond Organization, at an international inaugural dinner last night attended by more than 1,700 delegates.

Rothberg attributed the increased result to “the intense concern of American Jewry for the resettlement of Russian Jews who are now being permitted to leave for Israel in larger numbers than ever before.” Rothberg characterized the record sale as “the kind of action which reaffirms our pride as Jews and as partners in the building of Israel.”

Former Israeli Chief of Staff Gen. Haim Barlev, who was the guest of honor at the dinner last night, asserted that unless world Jewry was prepared to extend the fullest measure of financial support, Israel would not be able to fulfill its mission of absorbing an increased number of immigrants and meeting the needs for its security. “The responsibility of saving Jews and resettling them in Israel at this time belongs in the largest measure to the Jewish people everywhere. We cannot carry much of this burden in a period of crisis,” Barlev declared.

Ira Guilden, president of the Israel Bond Organization, emphasized that the security of Israel was a matter of deep concern, not only to Jews but to the American people as a whole who “recognize that Israel and the United States have a common interest in preserving the forces of freedom in the Mediterranean.”

OFFICERS NAMED TO CONDUCT 1972 CAMPAIGN

Israel’s Finance Minister Pinhas Sapir stated today in a cable to the Bond conference that he has submitted a new development budget amounting to $500 million. He said the Israel Bond campaign would have to provide 90 percent of this budget–$450 million–if the projects included in it are to be financed.

Sapir indicated to the conference, which concludes today, that the largest item in the new development budget is $207 million for the Israel government’s share of the construction of housing, primarily for new immigrants, and that $47.8 million was allocated for industrial development to create jobs for the newcomers. Promotion of agricultural development, transportation and exploitation of natural resources are other items in the new budget.

In a resolution summing up the objectives of the 1972 Israel Bond Conference, the delegates here pledged “our unbroken solidarity and our undivided energy to the fulfillment of Israel’s three basic needs of 1972: a strong economy to prevent another war, economic expansion to provide housing and jobs for an increased number of immigrants from Russia and upgrading the housing and economic opportunities of the disadvantaged sector of the population.”

Officers named at the conference to conduct this year’s campaign include: Ira Guilden of New York; Sam Rothberg of Peoria, 111.; Abraham Feinberg of New York, chairman of the Board of Directors; Jack D. Weiler of New York, secretary-treasurer; Leo Bernstein of New York, executive vice-president and chief executive officer; Louis H. Boyer of Los Angeles, chairman of the Board of Governors; Julian B. Venezky of Peoria, national chairman for regions; and Mrs. Jan Peerce of New York, chairman of the National Women’s Division.