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Morgenthau to Continue Leadership of Israee Bond Drive for 1953

January 19, 1953
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Henry Morgenthau Jr. has sent a cable to Premier David Ben Gurion of Israel advising him that he would continue to serve as chairman of the board of governors of the State of Israel bond campaign for 1953, it was announced here today following a joint meeting of the national executive committee and the board of governors of the bond organization at the Hotel Pierre, attended by more than 100 Jewish leaders from various parts of the country.

The meeting issued an appeal to American Jewry to back Israel in its economic development to help the new democracy cope with the dual threat of renewed Arab hostility and the Soviet campaign against Jews. Julian B. Venezky, chairman of the executive committee, reported that a total of $154,500, 000 in Israel bonds had been subscribed by approximately 500,000 Americans since the Israel bond issue was launched in May, 1951.

As a first step in the plans for the 1953 drive, the joint meeting voted to convene a national conference in Washington on Sunday, March 8th, to inaugurate the 1953 Israel bond campaign to provide the funds for industrial and agricultural development. Leaders from more than 300 cities throughout the country will be invited to take part in the Washington conference to launch this year’s Israel bond drive.

Ehud Avriel, director general of the Ministry of Finance of Israel and Israel’s first Minister to Czechoslovakia, who was the principal speaker at the meeting, said: “At the present time when Israel is confronted, on the one hand, with an increased armament program on the part of Arab neighbors who have refused to enter into negotiations with us for peace and, on the other, with a systematic propaganda campaign against Jews and the State of Israel on the part of Soviet Russia and its satellites, the Israel bond issue becomes an instrument of major importance in preserving our independence and our democratic way of life.”

Declaring that the proceeds of the Israel bond issue have made it possible for the State of Israel to embark on “many vital projects linked to its primary objective of achieving economic independence within the shortest possible time,” Mr. Avriel stated that the Israel bond campaign in the United States was responsible for major steps of economic progress in Israel during the past two years.

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