Hold More Bonds

In the next four years, more than $21 billion in Government war bonds (Series E) will be due for payment. To prevent a drain on the Treasury and keep the cash from adding to inflation, Treasury Secretary John Snyder last week came out with a plan. Its nub: encourage people to hold on to their E bonds by continuing the interest after maturity. If they keep the bonds for ten more years, they will collect an average annual interest of 2.9%. As an alternative for those who want to collect on their bonds every year, Snyder would permit them to convert their E bonds to G bonds, which pay 1 1/4% interest every six months. At week's end a bill was sent to Congress to write the plan into law.

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