The large industrialists clamored for more concessions and exemptions in order to expand their operations. As far as the press was concerned a number of those who write on economic issues are either retired government officials subsisting on pensions and income from National Savings Schemes Certificates or those earning salaries.
Selected purchases of government bonds were used only in exceptional circumstances, to address specific problems in the transmission of monetary impulses. It is clear that embarking on large-scale purchases of government bonds may affect the relationship between the central bank and the fiscal authority. What I am not sure of is when such a relationship can be characterised as “problematic” or “unproblematic”.