Word: bondsâ
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Dates: during 1924-1924
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...Government will not have in the fund, in 1945, $2,500,000,000. All it will have will be its own obligations, and it will owe $2,500,000,000 cash. It will then be necessary to sell to the public this $2,500,000,000 of bonds???a major operation in finance which may be disastrous at that time and may jeopardize the value of federal securities then outstanding...
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