I do not, however, think that it was long-dated securities that caused the trouble in that case.
So far as outstanding long-dated loans are concerned, this new procedure could not be applied to old contracts?
But the stock that they issue in the short-term interests of the nation should be as long-dated as possible.
Up goes the market price, and it becomes more easy for us to redeem or convert the long-dated loans.
That is a rather long-dated means of following up what has been done.
He should sell more long-dated bonds to mop up surplus money, instead of issuing short-dated paper.
It is not possible to say that in all circumstances irredeemable or long-dated securities, or charges on land, are unsuitable investments for trustees.
They may find it impossible to issue long-dated bonds.
