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National Loan Urged on Praha New Zionists Parley As Part of 10-year Palestine Plan

February 4, 1938
See Original Daily Bulletin From This Date

A Jewish national loan bearing three and a half per cent interest was suggested to the first national congress of the New Zionist Organization today by Dr. S. Klinger, of London, in a discussion of the organization’s ten-year plan for the development of Palestine.

The loan, under Dr. Klinger’s plan, would be repaid in 40 years, with interest payments guaranteed by the Palestine Foundation Fund. Half of it would be used to settle Jewish families on farms and to promote agriculture, while the remainder would go for industrial development.

Palestine was declared by M. Allyman, of Tel Aviv, to be rapidly approaching bankruptcy as result of two years of political crisis and uncertainty.

Prof. Benjamin Akzin, of London, reported on the political situation. Anticipated action of one group favoring return of the Revisionists to the World Zionist Organization failed to materialize in the course of a general debate.

Details of the N.Z.O’s ten-year plan for Palestine were yesterday laid before Dr. Kamil Krofta, Foreign Affairs Minister, during an audience granted by him to Vladimir Jabotinsky, president, Prof. Akzin and Oscar Rabinowich. Dr. Krofta was reported greatly interested in the plan’s concrete proposals. Mr. Jabotinsky and Mr. Rabinowich are to be received by President Eduard Benes today.

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