CO129-605-5 Government loans 4-2-1948 - 8-1-1949 — Page 79

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of any future issue, to give the impression that the response had been better than was actually the case. some days before the lists were closed, practically nothing was coming in and it was finally necessary for the Hong Kong Bank to take up $20,976,000. Obviously the prospects for a further straight issue of any size are not good and I find it difficult to make up my mind about the prospects of a Premium Bond Issue. Opinion here is divided on the subject, but if such an issue would attract money from savings accounts and from current accounts, where large balances are kept for long periods, it would be more effective than a straight issue in drawing off money which actually represents purchasing power.

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