Financial report of the Palestine Zionist Executive · 1929-01-01 · 16 (1929) · p. Seite 8

Palestine Electric Corporation Industrial Bank Hadassah Mizrachi Organization Special Expenses (London) ... Interest loans Lt; 25.0UU. 25.000, - 90.620.- 10.000. 3.000. 9.200. LE: 102.820.— 3. The budget accepted by the General Council had to be reduced in certain parts during the year owing to the fact that the Labour budget was considerably increased in consequence of the acute state of unemployment. In September, even before the financial year had started, it had already become evident that the Labour budget would in no way be sufficient. A period of serious unemployment had set in in October 1925. In August 1926 a system of relief to workmen registered without employment was inaugurated. The total amount paid in relief during the period October 1926—September 1927 was LE. 79.598.512. In order to cope with this situation, the Executive decided in December 1926 to increase the Labour budget from LE. 60.000. to LE. lOO'OOO-—and to decrease a number of budgets by TO o/0 in order to provide for this increase. The increase proved insufficient for the continuation of relief payments and for the undertaking of public works. 4. In April 1927 the Executive decided, and the subsequent meeting of the General Council in May 1926 confirmed, that an effort should be made to stop the relief distribution in Jerusalem, Haifa and Afuleh by the undertaking of a scheme of works to the total value of LE- 75 000.—In the end of the year works were started for LE. 69*500, the greater part of which was spent on S