18 OCTOBER 1957, Page 16

PREMIUM BONDS

SIR,—Why should the National Savings Committee think it necessary to commend Premium Bonds by a deliberate misstatement? The advertisement on page 480 of your issue for October 11 states, 'You can't lose a penny.' If not, then where does the prize money come from? The fact is, of course, that it is the interest accruing which forms the stake in this national lottery, and if you do not win a prize in the draw you lose your interest.

Whatever view one may take of the desirability or otherwise of Premium Bonds there can be nothing but condemnation for this verbal deception on the part of a responsible Government Committee.— E. BENSON PERKINS Secretary, World Methodist Council