HC Deb 18 March 1920 vol 126 cc2382-3
64. Mr. CAIRNS

asked the Chancellor of the Exchequer if he is aware of the annoyance caused to working men who invested in War Bonds through the Post Office, and when they drew their money they only got £88 for each £100 so invested; is he aware that this is causing people to invest elsewhere; and will he inquire if anything can be done in the matter?


War Bonds, like other securities, are subject to temporary market fluctuations, and holders who are compelled to realise at an unfavourable moment inevitably suffer loss, just as they would make a profit if they realised at a favourable moment. If a holder of War Bonds retains his holding until maturity the bonus assures him of a profit, and as the maturity date approaches the bonds must certainly rise above issue price. War Savings Certificates provide a suitable investment for those who wish to secure repayment of the sum invested in full at any moment, and were specially devised to meet the special needs of the small investor in the matter of avoidance of fluctuations in capital value.


Does that apply to innocent men who know nothing of the tricks of the Exchange?


They suffer exactly the same as innocent people in all ranks of life.