FISCAL: Indian Buyers

U.S. citizens are selling back their war bonds to the Government at an increasing pace. The Treasury, busy preparing for the Fifth War Loan campaign, to begin June 12, announced last week that through April the total of E-bonds ($25 to $1,000) redeemed had reached $2,379,000,000—10.9% of all E-bonds sold.

During March and April cash-in of bonds hit a new high, sales were the lowest since November 1942. Over $450,000,000 worth of bonds were cashed in. At that rate, three months’ redemptions equal nearly one month’s purchases. Thus, on the eve of invasion, Americans at home were backing the attack by taking three steps forward, one back.