SECURITIES OF THE COMPANY
What assurance will the Company offer that the abandonment of countries will not cause their impoverishment and produce economic crises?
I have already mentioned that honest Anti-Semites, whilst preserving their independence, will combine with our officials in controlling the transfer of our estates. But the State revenues might suffer by the loss of a body of taxpayers, who, though little appreciated as citizens, are highly valued in finance. The State should, therefore, receive compensation for this loss. This we offer indirectly by leaving in the country businesses which we have built up by means of Jewish acumen and Jewish industry, by letting our Christian fellow-citizens move into our evacuated positions, and by this facilitating the rise of numbers of people to greater prosperity so peaceably and in so unparallelled a manner. The French Revolution had a somewhat similar result, on a small scale, but it was brought about by bloodshed on the guillotine in every province of France, and on the battlefields of Europe. Moreover, inherited and acquired rights were destroyed, and only cunning buyers enriched themselves by the purchase of State properties.
The Jewish Company will offer to the States that come within its sphere of activity direct as well as indirect advantages. It will give Governments the first offer of abandoned Jewish property, and allow buyers most favorable conditions. Governments, again, will be able to make use of this friendly appropriation of land for the purpose of certain social improvements.
The Jewish Company will give every assistance to Governments and Parliaments in their efforts to direct the inner migration of Christian citizens.
The Jewish Company will also pay heavy taxes. Its central office will be in London, so as to be under the legal protection of a power which is not at present Anti-Semitic. But the Company, if it is supported officially and semi-officially, will everywhere provide a broad basis of taxatian. To this end, it will establish taxable branch offices everywhere. Further, it will pay double duties on the two-fold transfer of goods which it accomplishes. Even in transactions where the Company is really nothing more than a real estate agency, it will temporarily appear as a purchaser, and will be set down as the momentary possessor in the register of landed property.
These are, of course, purely calculable matters. It will have to be considered and decided in each place how far the Company can go without running any risks of failure. And the Company itself will confer freely with Finance ministers on the various points at issue. Ministers will recognize the friendly spirit of our enterprise, and will consequently offer every facility in their power necessary for the successful achievement of the great undertaking.
Further and direct profit will accrue to Governments from the transport of passengers and goods, and where railways are State property the returns will be immediately recognizable. Where they are held by private companies, the Jewish Company will receive favorable terms for transport, in the same way as does every transmitter of goods on a large scale. Freight and carriage must be made as cheap as possible for our people, because every traveller will pay his own expenses. The middle classes will travel with Cook's tickets, the poorer classes in emigrant trains. The Company might make a good deal by reductions on passengers and goods; but here, as elsewhere, it must adhere to its principle of not trying to raise its receipts to a greater sum than will cover its working expenses.
In many places Jews have control of the transport; and the transport businesses will be the first needed by the Company and the first to be liquidated by it. The original owners of these concerns will either enter the Company's service, or establish themselves independently "over there." The new arrivals will certainly require their assistance, and theirs being a paying profession, which they may and indeed must exercise there to earn a living, numbers of these enterprising spirits will depart. It is unnecessary to describe all the business details of this monster expedition. They must be judiciously evolved out of the original plan by many able men, who must apply their minds to achieving the best system.
SOME OF THE COMPANY'S ACTIVITIES
Many activities will be interconnected. For example: the Company will gradually introduce the manufacture of goods into the settlements which will, of course, be extremely primitive at their inception. Clothing, linens, and shaes will first of all be manufactured for our own poor emigrants, who will be provided with new suits oi clothing at the various European emigration centers. They will not receive these clothes as alms, which might hurt their pride, but in exchange for old garments: any loss the Company sustains by this transaction will be booked as a business loss. Those who are absolutely without means will pay off their debt to the Company by working over-time at a fair rate of wage.
Existing emigration societies will be able to give valuable assistance here, for they will do for the Company's colonists what they did before for departing Jews. The forms ofsuch cooperation will easily be found.
Even the new clothing of the poor settlers will have the symbolic meaning. "You are now entering on a new life." The Society of Jews will see to it that long before the departure and also during the journey a serious yet festive spirit is fostered by means of prayers, popular lectures, instruction on the object of the expedition, instruction on hygienic matters for their new places of residence, and guidance in regard to their future work. For the Promised Land is the land of work. On their arrival, the emigrants will be welcomed by our chief officials with due solemnity, but without foolish exultation, for the Promised Land will not yet have been conquered. But these poor people should already see that they are at home.
The clothing industries of the Company will, of course, not produce their goods without proper organization. The Society of Jews will obtain from the local branches information about the number, requirements and date of arrival of the settlers, and will communicate all such information in good time to the Jewish Company. In this way it will be possible to provide for them with every precaution.
PROMOTION OF INDUSTRIES
The duties of the Jewish Company and the Society of Jews cannot be kept strictly apart in this outline. These two great bodies will have to work constantly in unison, the Company depending on the moral authority and support of the Society, just as the Society cannot dispense with the material assistance of the Company. For example, in the organizing of the clothing industry, the quantity produced will at first be kept down so as to preserve an equilibrium between supply and demand; and wherever the Company undertakes the organization of new industries the same precaution must be exercised.
But individual enterprise must never be checked by the Company with its superior force. We shall only work collectively when the immense difficulties of the task demand common action; we shall, wherever possible, scrupulously respect the rights of the individual. Private property, which is the economic basis of independence, shall be developed freely and be respected by us. Our first unskilled laborers will at once have the opportunity to work their way up to private proprietorship.
The spirit of enterprise must, indeed, be encouraged in every possible way. Organization of industries will be promoted by a judicious system of duties, by the employment of cheap raw material, and by the institution of a board to collect and publish industrial statistics.
But this spirit of enterprise must be wisely encouraged, and risky speculation must be avoided. Every new industry must be advertised for a long period before establishment, so as to prevent failure on the part of those who might wish to start a similar business six months later. Whenever a new industrial establishment is founded, the Company should be informed, so that all those interested may obtain information from it.
Industrialists will be able to make use of centralized labor agencies, which will only receive a commission large enough to ensure their continuance. The industrialists might, for example, telegraph for 500 unskilled laborers for three days, three weeks, or three months. The labor agency would then collect these 500 unskilled laborers from every possible source, and despatch them at once to carry out the agricultural or industrial enterprise. Parties of work-men will thus be systematically drafted from place to place like a body of troops. These men will, of course, not be sweated, but will work only a seven-hour day; and, in spite of their change of locality, they will preserve their organization, work out their term of service, and receive commands, promotions, and pensions. Some establishments may, of course, be able to obtain their wiorkmen from other sources, if they wish, but they will not find it easy to do so. The Society will be able to prevent the introduction of non-Jewish work-slaves by boycotting obstinate employers, by obstructing traffic, and by various other methods. The seven-hour workers will therefore have to be taken, and we shall thus bring our people gradually, and without coercion, to adopt the normal seven-hour day.
SETTLEMENT OF SKILLED LABORERS
It is clear that what can be done for unskilled workers can be even more easily done for skilled laborers. These will work under similar regulations in the factories, and the central labor agency will provide them when required.
Independent operatives and small employers, must be carefully taught on account of the rapid progress of scientific improvements, must acquire technical knowledge even if no longer very young men, must studp the power of water, and appreciate the forces of electricity. Independent workers must also be discovered and supplied by the Society's agency. The local branch will apply, for example, to the central office: "We want so many carpenters, locksmiths, glaziers, etc." The central office will publish this demand, and the proper men will apply there for the work. These would then travel with their families to the place where they were wanted, and would remain there without feeling the pressure of undue competition. A permanent and comfortable home would thus be provided for them.
METHOD OF RAISING CAPITAL
The capital required for establishing the Company was previously put at what seemed an absurdly high figure. The amount actually necessary will be fixed by financiers, and will in any case be a very considerable sum. There are three ways of raising this sum, all of which the Society will take under consideration. This Society, the great "Gestor" of the Jews, will be formed by our best and most upright men, who must not derive any material advantage from their membership. Although the Society cannot at the outset possess any but moral authority, this authority will suffice to establish the credit of the Jewish Company in the nation's eyes. The Jewish Company will be unable to succeed in its enterprise unless it has received the Society's sanction; it will thus not be formed of any mere indiscriminate group of financiers. For the Society will weigh, Select and decide, and will not give its approbation till it is sure of the existence of a sound basis ior the conscientious carrying out of the scheme. It will not permit experiments with insufficient means, for this undertaking must succeed at the first attempt. Any initial failure would compromise the whole idea for many decades to come, or might even make its realization permanently impossible.
The three methods of raising capital are: (1) Through big banks; (2) Through small and private banks; (3) Through public subscription.
The first method of raising capital is: Through big banks. The required sum could then be raised in the shortest possible time among the large financial groups, after they had discussed the advisability of the course. The great advantage of this method would be that it would avoid the necessity of paying in the thousand millions (to keep ta the original figure), immediately in its entirety. A further advantage would be that the credit of these powerful financiers would also be of service to the enterprise. Many latent political forces lie in our financial power, that power which our enemies assert to be so effective. It might be so, but actually it is not. Poor Jews feel only the hatred which this financial power provokes; its use in alleviating their lot as a body, they have not yet felt. The credit of our great Jewish financiers would have to be placed at the service of the National Idea. But should these gentlemen, who are quite satisfied with their lot, feel indisposed to do anything for their fellow-Jews who re unjustly held responsible for the large possessions of certain individuals, then the realization of this plan will afford an opportunity for drawing a clear line of distinction between them and the rest of Jewry.
The great financiers, moreover, will certainly not be asked to raise an amount so enormous out of pure philanthropic motives; that would be expecting too much. The promoters and stock holders of the Jewish Company are, on the contrary, expected to do agood piece of business, and they will be able to calculate beforehand what their chances of success are likely to be. For the Society of Jews will be in possession of all documents and references which may serve to define the prospects of the Jewish Company. The Society will in particular have investigated with exactitude the extent of the new Jewish movement, so as to provide the Company promoters with thoroughly reliable information on the amount of support they may expect. The Society will also supply the Jewish Company with comprehensive modern Jewish statistics, thus doing the work of what is called in France a "societé d'études," which undertakes all preliminary research previous to the financing of a great undertaking. Even so, the enterprise may not receive the valuable assistance of our moneyed magnates. These might, perhaps, even try to oppose the Jewish movement by means of their secret agents. Such opposition we shall meet with relentless determination.
Supposing that these magnates are content simply to turn this scheme down with a smile:
Is it, therefore, done for?
No.
For then the money will be raised in another way -- by an appeal to moderately rich Jews. The smaller Jewish banks would have to be united in the name of the National Idea against the big banks till they were gathered into a second and formidable financial force. But, unfortunately, this would require a great deal of financing at first -- for the £50,000,000 would have to be subscribed in full before starting work; and, as this sum could only be raised very slowly, all sorts of banking business would have to be done and loans made during the first few years. It might even occur that, in the course of all these transactions, their original object would be forgotten; the moderately rich Jews would have created a new and large business, and Jewish emigration would be forgotten.
The notion of raising money in this way is not by any means impracticable. The experiment of collecting Christian money to form an opposing force to the big banks has already been tried; that one could also oppose them with Jewish money has not been thought of until now. But these financial conflicts would bring about all sorts of crises; the countries in which they occurred would suffer, and Anti-Semitism would become rampant.
This method is therefore not to be recommended. I have merely suggested it, because it comes up in the course of the logical development of the idea.
I also do not know whether smaller private banks would be willing to adopt it.
In any case, even the refusal of moderately rich Jews would not put an end to the scheme. On the contrary, it would then have to be taken up in real earnest.
The Society of Jews, whose members are not business men, might try to found the Company on a national subscription.
The Company's capital might be raised, without the intermediary of a syndicate, by means of direct subscription on the part of the public. Not only poor Jews, but also Christians who wanted to get rid of them, would subscribe a small amount to this fund. A new and peculiar form of the plebiscite would thus be established, whereby each man who voted for this solution of the Jewish Question would express his opinion by subscribing a stipulated amount. This stipulation would produce security. The funds subscribed would only be paid in if their sum total reached the required amount, otherwise the initial payments would be returned.
But if the whole of the required sum is raised by popular subscription, then each little amount would be secured by the great numbers of other small amounts.
All this would, of course, need the express and definite assistance of interested Governments.