10 SEPTEMBER 1927, Page 32

Finance—Public and Private

Economy and Debt Conversions

DURING the next two years something like £500 millions in British Debt in one form and another will mature, though as regards some of the bonds redeemable next year and in 1929 there is always the prospect of a portion being automatically converted meanwhile into the .5 per cent. War Loan. Even in such an event, however, it must be remembered that the Government does not gain anything in the way of saving in the annual service of the Debt, as the War 'Loan bears the same rate of interest,- and as regards the conversion Of 5 per cent. Bonds there is an increase in the debt charge, for they are convertible into a larger nominal amount of War Loan.