The Articles of Association provide, among other things, that no more than half the capital is to be employed in the purchase of land, that the governing body shall consist of a Council of Administration, who in their turn shall elect Directors, and these shall be paid officials and carry out all the executive work. The machinery provided by the Articles enables representative Jewish institutions to become members of the Company, and thereby to have a certain voice in the management. The constitution further provides that under no circumstances shall any of the members derive any profit from the undertaking.
With regard to the objects of the Company, the last clause was amplified at an Extraordinary General Meeting of the Company by the addition before “or on such terms” of the following words: “or for any other philanthropical purposes specified by the donor or testator for the benefit of Jewish communities or individuals either in Europe or in America.”
The Jewish Colonization Association was founded with a capital of £2,000,000 divided into 20,000 non-dividend bearing shares of £100 each. Baron de Hirsch subscribed for 19,993 shares; and Lord Rothschild (1840–1915), Sir Julian Goldsmid (1838–1896), Ernest (afterwards Sir Ernest) Cassel, Frederic David Mocatta (1828–1905), and Benjamin Louis (afterwards Sir Benjamin Louis) Cohen (1844–1909) of London, and Salomon H. Goldschmidt (1814–1898) and Solomon Reinach of Paris for one share each.[¹]
[¹] Before his death Baron de Hirsch divided his shares among the following corporations: the Synagogues of Brussels and the Jewish communities of Berlin and Frankfort-on-the-Main, 3600 each; the Anglo-Jewish Association of London and the Alliance Israélite Universelle, Paris, 4595 shares each.
About the time when the Jewish Colonization Association was formed, Baron de Hirsch addressed an appeal to the Jews in Russia concerning the emigration schemes which he intended to carry out under the auspices of the Company. The following is a translation of this appeal:—
“To my co-religionists in Russia: You know that I am endeavouring to better your lot. It is, therefore, my duty to speak plainly to you, and to tell you what it is necessary for you to know.
“I am acquainted with the reasons which oblige many of you to emigrate, and I will gladly do all in my power to assist you in your hour of distress. But you must make this possible for me. Your emigration must not resemble a rash and reckless flight by which the endeavour to escape danger ends in destruction. You know that properly organized committees are shortly to be established in Russia, with the consent and under the supervision of the Imperial Russian Government. The duty of these committees will be to organize the emigration in a business-like way. All persons desirous of emigrating will have to apply to the local committees, who alone will be authorized to give you the necessary facilities. Only those persons who have been elected by the committees can have the advantage of the assistance of myself and of those who are working with me. Any one who leaves the country without the concurrence of the committees will do so at his own risk, and must not count on any aid from me.
“It is obvious that in the beginning the number of emigrants cannot be large; for not only must places of refuge be found for those who first depart, but the necessary preparations must be made for those who follow. Later on the emigration will be able to assume larger proportions.
“Remember that I can do nothing for you without the benevolent and gracious support of the Imperial Russian Government.
“In conclusion, I appeal to you. You are the inheritors of your fathers, who for centuries have suffered so much. Bear this inheritance yet awhile with equal resignation. Have also further patience, and thus make it possible for those who are anxious to help you to do so effectively.