Thank you Ambassador Gildenhorn for that kind introduction and for your vision, commitment, and leadership. Ambassador Joseph and Alma Gildenhorn have been tireless supports of Israel Bonds and we are all greatly appreciative of your dedication. In addition, I would also like to thank Ambassador and Mrs. Bernstein for their untiring support and advocacy on behalf of Israel and Israel Bonds. I'd like to acknowledge all of the organizers of this fine event. We are all indebted to you for the good work you do on behalf of Israel Bonds. I would also like to offer a special welcome to a good friend of so many of us, Governor Ehrlich, the Governor of Maryland, a state that stands at the forefront of cooperation with Israel in so many areas. I am also heartened to see Mayor Anthony Williams in attendance tonight. Mayor Williams has been a true friend of Israel and Israel Bonds for many years and we are all thankful for his friendship.

Tonight's event marks the 50th anniversary of Israel Bonds' Ambassador's Ball. The Bible tells us that the 50th anniversary, or "jubilee", is a special time, a time to celebrate liberty and freedom.
 

Leviticus 25:10
And you shall santify the fiftieth year, and proclaim liberty throughout all the land unto all the inhabitants thereof: it shall be a jubile unto you.

And this is the inscription on the Liberty Bell in Philadelphia, the greatest symbol of freedom in the United States and indeed, the world. Israel Bonds jubilee celebration truly symbolizes the uniquely strong bonds between the United States and Israel, bonds forged out of shared values and particularly our joint commitment to democracy and freedom.

Even though the jubilee is a celebration of freedom, I have been told that Israel Bonds will not try to sell interest FREE bonds, which might be a relief to many in this room.

Crucial to liberty is the freedom of religion. Tonight we celebrate Jerusalem Day marking the reunification of Jerusalem 38 years ago. For the previous 19 years Jews could not pray at the Western Wall and Israeli Muslims and Christians were denied the right to pray at their holy places. Only after the liberation and unification of Jerusalem could followers of all religions enjoy their most basic rights. And Jerusalem will remain the eternal, unified capital of Israel and Israel will always ensure that all those who wish to pray in its midst will do so freely and securely.

Israel's first Prime Minister, David Ben-Gurion, conceived Israel Bonds as a means of sustaining Israel's economy in the aftermath of our War of Independence. Israel Bonds became the economic underpinning upon which the modern State of Israel was built. Your investments, made with true vision and faith in the promise of the Zionist dream, have ensured our success and enhanced the vitality of Israel.

If fact, despite over 4 years of unrelenting Palestinian terror, Israel's economy is strong.

. Israeli per-capita GDP increased by over 2% in 2004.

. Total exports of goods and services up 14% in 2004 ($50.1 billion)

. Tourism was up 42% for 2004 as compared to 2003. 1.5M tourists in 2004.

. Tourism from the U.S. was up 39% in 2004 as compared to 2003. 379,000 tourists from the U.S. in 2004.

And today Israel's economy is poised for strong growth based on our educated workforce, high levels of entrepreneurship, privatization of government owned companies and the reduction of taxation and deregulation. The lessening of terror has also helped, but unfortunately, the attempts to carry out terrorist activities continue. So many terrorists have been prevented from carrying out attacks by our security services, aided by our security fence, but as of yet there have been no real Palestinian efforts to proactively fight terror or dismantling the infrastructure of terror.

We are not complacent and we remain on guard. And we are pursuing our Disengagement Plan which, despite the difficulties, will further our security as well as our diplomatic and political standing.

The way ahead is not easy, your understanding and support is so valuable.

Israel continues to work toward peace and security. With all of you supporting us, sticking with us through thick and thin, I have no doubt that Israel is well on our way along the path toward real peace, genuine security and economic prosperity. Thank you very much.