Ww2 War Bonds

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World War II War Bonds The United States government first started issuing war bonds in the War of 1812 to account for the $11 million raised by the public to help pay for the war (Wikipedia). The government, to help fund every major war since then that the United States has been involved with, has used war bonds. During the Second World War President Franklin D. Roosevelt issued the first series of war bonds, “E”, to the American public to remove much needed cash from circulation and to help reduce the war-caused inflation. The U.S. government spent more than $300 billion to pay for the war effort, that translates to $4 trillion today (NWW2M). War bonds were essential to help pay for this debt, but not many people know how the bond buying…show more content…
The U.S. desperately needed cash to pay for tanks, guns and ammo, uniforms and food for soldiers, so war bonds were the answer. They were promoted to both adults and children. Each single bond would cost $18.75 to purchase, and in ten years could be sold back to the government for $25 (NWW2M). So, a war bond is nothing more than a loan issued from civilians to the government that yielded a 2.9% return. Children were also encouraged to buy 10-cent to 25-cent stamps that they could put into a stamp booklet and eventually raise the $18.75 needed for a full bond. Schools would also have mini bond drives and compete against neighboring schools to raise the most money. To supervise the sale of war bonds the United States Congress required a lot of help; the War Finance Committee was created and put in charge of the 8 bond drives, which lasted from November 29, 1942 to December 8, 1945, and raised over $185.7 billion to cover half of the war cost (US…show more content…
For example, the Stars Over America tour consisted of 337 stars, and traveled to over 300 cities raising $838,540,000 worth of bonds (US History). Another drive that took place was with multiple sports teams selling war bonds in place of tickets. One specific drive is an unusual baseball game that took place between the New York Yankees, New York Giants and Brooklyn Dodgers in which the three teams went to bat 6 times each in a 9-inning game. The resulting score was the Dodgers 5, Giants 0 and Yankees 1; but the drive raised $56,500,000 in bond sales (US History). These are just two examples of the bond drive effort, but there was much more that happened on a small scale for promoting bonds. For example, some Soldiers and Marines that were awarded medals and sent home from the war early would also travel from town to town, telling crowds about fighting the Nazi’s or Japanese, and of course selling bonds. These bond drives were the most important part to selling the bonds, because just as a music artist is trying to sell cd’s, only so many people can be reached by advertising and therefore a nation wide tour is the best
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