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The Southern Jewish weekly. [volume] (Jacksonville, Fla.) 1939-1992, February 29, 1952, Image 8

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Persistent link: https://chroniclingamerica.loc.gov/lccn/sn78000090/1952-02-29/ed-1/seq-8/

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Page Eight
W jr ,V
S / | Build Israel |j
fa ■ * 1 with Bonds ||
% > That* securin'**, though r#gJ«t*r#d, havo not bawl approved or disapproved by dte $•*»*!*•• || I 11/ 1 j|x| Pj
ftT ami Exchange Commission, which rfeu net pace am the merit* of nay ngictemd mmritie*. || 11 _ Hj
1 |UIUm/|
jP 1 SUNDAY Cr
1 I MARCH J I
ISRAEL WAITED
FOUR YEARS FOR THIS DAY
U Four years had to pass—four years of struggle and hard work by the people
jr of Israel, building industries, farms, new cities, new power installations,
* laying the foundations of a great modern state,— before BIG DAY could
5 be proclaimed.
8 On BIG DAY, Sunday, March 9th, the Jewish homes in cur community
£ will be visited and asked to invest, not donate,—to lend the people of Israel
jc money by purchasing State of Israel Bonds. The money will be returned,
£ with interest.
6 The people of Israel can and want to be self-supporting. Israel Bond dollars
3 are doing BIG things in Israel. New factories, new projects to exploit
§ Israel’s natural resources, new income prodqcing enterprises which use Israel’s
reservoir of skill and manpower are being built at a fast pace. But more
£ bonds will produce even greater economic progress.
jF The person who will ring your door-bell on Sunday, March 9th will bring
£ you the story of the people of Israel—more than 1,400,000 strong. Open your
F door and welcome the authorized volunteer on BIG DAY. Remember, an
£ Israel Bond brings—a rich return for your heart, a good return for your purse.
| STAY HOME AND BUY- OR GO OUT AND SELL ISRAEL BONDS ON BIG DAY
Farther htnwUm, portico lerty OmwW lefewßeu, I* teMuiaed In MM Rash
|T MR* Slat —Mill RM with Mw CmnmlmMn ami in a mar* complete Prospectus
which nww» ha Awhlri M ancfc | —* r —it *r x r*~*r*nrttt frtm thi rntfirilpruff
Orders tor Bond* may bo pUtted m», mod Brospaetasa* ebtolmad tronu
l STATE OF American Financial and Development Corp. for Israel
| ISRAEL? onds
I • 1 I m M %1— Mmmmm
F Oriel* net«jKotjiectv*or on offer to *oB nr a *olidtaflM nf atan In bay 11mm momMo*. The offering Is modtantyhf tbi traspadait
| 137 E. Forsyth Street
THE SOUTHERN JEWISH WEEKLY
Friday, February 29 , 1952
STATE |
of jr
ISRAEL 1
$900,000,000 INDEPENDENCE W
BOND ISSUE |
Two types of Bonds an offered at par Sn
as follows: M
(a) Interest Bearing Bonds Denominated as a
Fifteen Year 3Vi% Dollar Coupon Bonds. Nj
Interest payable May 1 and Nov. 1 fir
Denominations: SSOO • SI,OOO * $2,500
$5,000 • SIO,OOO • SIOO,OOO m
Bs) Capital Appreciation Bonds Denominated
as- Twelve Year Dollar Savings Bonds, &•
Maturity Value: 150% of issue amount jn
Denominations: SSO • SIOO * $250 • SSOO Cl
SI,OOO • $2,500 • $5,000 • SIO,OOO fa
The State of Israel $500,000,000 Bond Sr
Issue is intended to promote the economic
development of the State. The proceeds of
the Bond Issue are to be used for the pur. ft
chase of machinery, raw materials, equip.
ment and other items designed to increase
the country’s productive facilities so that it
may earn and save foreign currency. Os the (J
total amount, $205,000,000 is to be alio* C
cated lot investment in the fields of industry (A
and power. The sum of 51 30.000.000 has
been designated for agricultural projects; uL
$40,000,000 for the development of harbors, n#
shipping and railroads; 545.000.000 for u
trade and services including the development
of the tourist industry; and 530.000.000 for /a
the establishment of a government mortgage
bank for housing.
The balance, after- payment of the ex- JT
penses of the issue, is to serve as a reserve y
for unanticipated projects or for increased
expenditures for the designated projects. Hr
The Government's economic develop* \\
mept program involves a total projected ex- KT
penditure of $1,500,000,000. of which
*500,000.000 is to be provided by Israel
and other countries, and the balance is to Qf
be obtained in the United States. The 5500.-
000,000 State of Israel Bond Issue is the W
largest single source of funds for this
program.
With immigration proceeding at the U
rate of 200,000 a year, Israel requires capital [jp
imports to meet the large investment nec- 11-j
ess ary to create permanent employment op- fj
portuniues and housing for the newcomers.
A balanced and mature economy will as a
rule produce enough to cover the consump
five needs of its population and to provide fi"
for some further investment to increase pro- l/fi
ductivity. But under the best conditions, cur- u
rent production cannot begin to supply the jjS
huge capital needs of a population that is in- /f
creasing 'at the enormous rate experienced by
Israel. Palestine and Israel, therefore, have 0P
always had an adverse trade balance—like 'w
many young countries facing immigration kl
and development tasks, including the United Yd
r-.tes. Australia and New Zealand. As im- fa
:...gration increased, so did the adverse trade pjj
balance. The import surplus served to meet vk
the investment needs of the «• nomy. For Iff
1949 receipts on current account were (ex- Q
pressed in Israel Pounds. 1.L.) I.L. 20.600,-
000 and payments. I.L. 94.100.000. For
1950 receipts on current account were I.L. fj
23.800,000 and payments. I.L. 113.400,.
000. Iff
It is one of the major purposes of the
Bond Issue to improve Israel's balance of (L
trade through the establishment of new
industrial and agricultural enterprises and vj
through the expansion of production for ex- v.
port as well as for home consumption.
As of December 31. 1950. the funded
debt was I.L. 114.200.000 and the floating fj
debt, I.L. 1.300.000. The figures do not in- 6C
elude any Treasury Bills, because of their /2
relationship to the Special Defense Budget AJ
which has not been disclosed for security u;
reasons. W
Israel has never at any time defaulted n
upon the payment of principal or interest ' w
on any debt. A
The budgets of the Government reflect
the objectives of the State of Israel to provide
for the immigration and absorption of a
large number of Jews. From May 15. 1948 V\
to March 31. 1949. receipts were I.L. 28.* W
885,000 and expenditures, I.L. 27.529.000. ft"
From April 1, 1949 to March 31. 1950. '
receipts were I.L. 92.876.000 and expend!- ep
cures I.L/93,800.000. From April 1, 1950 v\
to January 31, 1951, receipts were I.L. [s
113.473.000 and expenditures I.L. 112,- fr
087.000. These figures do not include Special
Defense Budget expenditures or receipts from ra*"”
internal loans financing same. 3
The American Financial and Develop
meat Corporation for Israel with head*
quarters at 120 Broadway, New York 9, efi
New York, is the principal underwriter far IL
the State of Israel Bond Issue. The commit* 7]
•too* iff dimwaty «it not to exceed 3V4%.
Jacksonville, Fla. |

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