1933 August 25, TRANSFER (Haavara) AGREEMENT
Negotiated between the German Zionist Federation, the Jewish Agency and the German Finance Ministry. The agreement encouraged the emigration of German Jews. Although forced to leave their assets in Germany, they received partial payment through the Jewish agency which in turn imported and sold German goods for the same amount of capital although it was forced to accept a far lower rate of exchange. Levi Eshkol (later prime minister) was sent to Berlin to run the company. The agreement was strongly criticized by Jabotinsky and those Jews trying to organize a boycott of German goods. In all, $40,419,000 was transferred to Germany by 1939, while almost 60,000 German Jews were able to leave to Eretz Israel.