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 for 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
to 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 t