A proposal to determine immigration into Palestine by capital investment is made in an economic survey entitled “The Rebuilding of Palestine,” issued today by the United Palestine Appeal in connection with the forthcoming National Conference for Palestine.
The survey was made by Joseph L. Cohen, of London, member of the Zionist Actions Committee and British representative on the Advisory Committee on Social Insurance of the International Labor Organization. It is prefaced by an introduction, entitled “How Many Jews Can Palestine Hold?”
Examining three possible bases for immigration, Mr. Cohen finds that the best is a system whereby a new immigrant would be allowed for every £150 invested. He holds experience has shown that the £100,000,000 introduced into Palestine, of which £85,000,000 has been invested, has made it possible for the country to maintain another 650,000 people.
The economist goes into detail to show that development of agriculture and industry make possible increased immigration. With improved farming methods he states the population living on the land could easily be trebled, while the possibilities for expansion in industry are held even more elastic than in agriculture.
“It is wholly incorrect,” Mr. Cohen declares, “to regard the economic situation as static, permitting a measurable volume of immigration, for immigration itself largely determines economic development, whilst its present profoundly affects its future extent. An enquiry into the dynamics of the development of new countries shows that national output and a growing labor supply — i.e. immigration — evolve together, with reciprocal and cumulative effect, and that it is impossible to sever the strands of their interaction.”
Warning that Palestine’s progress is being held up by lack of labor, he urges increased immigration on the ground that its restriction “needlessly keeps down the standard of living.” He holds that much of the £16,000,000 lying on deposit in banks would have been invested in essential undertakings had it not been for the labor shortage.
The survey itself reviews figures in capital investment, immigration, population and national income, pointing out that the two major factors which have contributed to the budgetary surplus and to the increased wealth of the country are the stream of Jewish immigrants and the stream of Jewish capital.
Total capital invested by Jews is estimated at £107,000,000 and productive output of the Jewish section of the population at £6,500,000 in industry, £2,000,000, housing; £ 750,000, transport; £3,000,000 distribution; £750,000, 000 professional services; £2,000,000, cafes, restaurants, hotels, theatres, etc; £ 500,000, banking and insurance, and £1,500,000 miscellaneous.
One point is made that “there is a gradual but significant increase in the numbers engaged in industry, handicraft, transport and building” while ” at the same time there is a relative decrease in the numbers engaged in agriculture — 14 per cent today as against 18 per cent at the end of 1931.
The Archive of the Jewish Telegraphic Agency includes articles published from 1923 to 2008. Archive stories reflect the journalistic standards and practices of the time they were published.
