To the Editor:
Steamship Authority bonds have always been “plums for the privileged,” given out to favored and connected big-dollar firms and investors. What if, when they needed to raise funds, the SSA were to issue savings bond–type paper in denominations small enough for local people to afford? They would be first offered only to people who live in the towns who are legally responsible for SSA deficits, should they ever happen. If such a bond issue were to not sell out locally, they could then be made available to residents of other Massachusetts communities. Doesn’t it make sense to keep at “home” the money the SSA pays in interest?