BONDS OF SMALL DENOMINATION
♦ AMERICAN TREASURY'S NEW SCHEME (Received March 3, 9 p.m.) WASHINGTON, March 1. The Treasury inaugurated a new type of Federal financing to-day, and offered for sale an unlimited quantity of so-called "baby bonds," ranging from 25 to 1000 dollar denominations, with 10,000 dollars the limit for any one holder. The bonds are sold at a discount, and are redeemable in 10 years. For example, an 18.75 dollar investment brings 25 dollars a decade hence. At the White House Mr Roosevelt made the first purchase, buying six 25 dollar bonds. "One for each of my grandchildren and one for myself," he said. It is understood that the administration is floating the "baby bonds" for a twofold purpose, first, to relieve some of the pressure from the banks, which have previously absorbed great quantities of Government securities, and second to make as many citizens as possible "investors."
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Press, Volume LXXI, Issue 21413, 4 March 1935, Page 6
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149BONDS OF SMALL DENOMINATION Press, Volume LXXI, Issue 21413, 4 March 1935, Page 6
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