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the present the Actions Committee is trying to obtain from Turkey a
charter for the settlement of the districts of Palestine which are
available and at present waste, and for the opening up of its resources.
The realization of such a charter is impossible without considerable
capital. In order to be financially equipped for the moment when Turkey
will grant a charter, the Second Zionist Congress (1898) resolved upon the
founding of a national Jewish banking institute, the Jewish Colonial Trust
(Judische Colonial Bank). The resolution was carried out in the following
year (1899). The Bank is established. Its joint stock amounts to two
million pounds sterling. According to its statutes it could begin active
work when an eighth part of its joint stock, £250,000 sterling, had
actually been paid in. This stage was reached in 1902.
financial instrument of Zionism is the National Fund, which is raised by
voluntary contributions and now amounts to about £40,000. One half of
this Fund is to be devoted to the purchase of land in Palestine; the other
is to remain an inviolable common possession of the Jewish people, to
increase constantly by compound interest and donations, and to provide its
interest for any great national objects that may present themselves.
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