Word: longer-term
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Dates: during 1953-1953
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...short-term (i.e., one year or less) Government securities has come due, the U.S. has simply offered another short-term issue to replace it. Last week, in exchange for an $8.9 billion issue of one-year certificates falling due Feb. 15, Treasury Secretary George M. Humphrey gave investors a choice of 1) a similar one-year replacement issue of certificates, or 2) bonds maturing in five years, ten months. Humphrey's eventual goal: to put the $267 billion national debt, now 80% concentrated in securities maturing or redeemable in five years or less, on a longer-term basis...