labor merits more than a gift. He is entitled to credit. The prospective bank could therefore begin by extending the needed credits to the colonists; later it would expand into the instrument for the bringing in of Jews and would supply credits for transportation, agriculture, commerce and construction."
The seat of the bank was to be London. There were to be two billion shares at £1 each. The bank was to be directed by men acquainted with banking affairs, but the movement would be placed in a position to control its policy. The hopes of Herzl grew from week to week. As he approached the practical situation he became less and less confident of the cooperation of men of wealth. Differences arose in the preliminary discussions as to the scope of the bank. In the first draft of the Articles of Incorporation the Orient alone was named as the area of work for the bank. Menachem Ussishkin insisted that the words "Syria and Palestine" should be substituted. After a great deal of discussion, the proposals for the formation of the bank were brought to the second Zionist Congress and the Articles of Incorporation, as amended, were adopted by acclamation.