In speaking today with several business men and industrialists of this city and of Tel Aviv, your correspondent learns that certain Jewish industries are more seriously affected by the boycott against the Jews than seems to be the case with agricuture. One important local wholesaler went so far as to say that if the boycott lasts six months the merchants will face bankruptcy unless substantial emergency loans are forthcoming to aid them.
According to figures shown me today several Tel Aviv industries such as furniture, iron works and hosiery, are experiencing cancellation orders from Syria and Transjordania totalling 30,000 pounds. Salesmen for American and English firms handling the same line of goods show no commensurate increase in orders indicating that the Arabs are attempting to do without manufactured goods rather than shift trade to non-Jewish firms.
A large Haifa jobber of European made goods, who is suffering from the boycott, says that the Arab retailers are ordering direct from Europe. Inquiry among druggists indicates that they are badly hit. The Arabs are spreading rumors that the Jewish pharmacists are compounding poisonous prescriptions. An Arab woman buying medicine at a Jewish pharmacy insisted that the druggist taste it first before she accepted it. The Arabs asked a Christian chemist in the German colony to assure them that the prescriptions of the Jewish doctors are not poisonous.
The condition is beneficiary to the Christians since no new Arab shops have been opened. The Christian shops are enjoying a rushing business. The belief is current among Jewish merchants that the banks are cutting Jewish credits more drastically than business conditions justify. Barclay’s Bank is said to be the only non-Jewish bank giving the Jewish merchants fair treatment.
Retail merchants are asking for a fund for long term loans to help them struggle through the boycott which in their opinion is bound to collapse in six months.
Wholesalers and manufacturers are seeking a way out by dumping huge quantities of goods in Syria and Egypt at lower prices. By this step they believe they can break the boycott and prevent the flooding of the home market and the bringing of industry to a standstill.
Merchants and industrialists want assistance in this program with loans or subsidies from the reconstruction fund. They argue that while physical rebuilding is necessary it should not be limited to agricultural and personal property but that industry is entitled to similar help in reconstruction through exporting its surplus at low prices.
It is impossible to deny that there is considerable pessimism in industrial circles because of the boycott but the business men and industrialists are manifesting the same determination as the agriculturists, to fight through to the end.
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.
