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Liberty bond redemption letter 1922. The first three Liberty bonds, and the Victory Loan, were retired during the course of the 1920s. However, because the terms of the bonds allowed them to be traded for the later bonds which had superior terms, most of the debt from the first, second, and third Liberty bonds was rolled into the fourth issue.
The Third Liberty Loan Act (Pub. L. 65–120) was a liberty bond sold during World War I that helped cover the war expenses of the United States. In effect, the bonds were loans from citizens to the US Government which would be repaid with interest in the future.
Advertising poster for World War I Liberty Bonds. In 1917 and 1918, the United States government issued Liberty Bonds to raise money for its involvement in World War 1. An aggressive campaign was created by Secretary of the Treasury William Gibbs McAdoo to popularize the bonds, grounded largely as patriotic appeals. [24]
In 1941, as the U.S. entered World War II, the government reintroduced war bonds, first under the name Series E Defense Bonds and later, after Japan’s attack on Pearl Harbor, simply War Savings ...
In the third Liberty Loan campaign of 1918, more than half of all families subscribed. In total, $21 billion in bonds were sold with interest from 3.5 to 4.7 percent. The new Federal Reserve system encouraged banks to loan families money to buy bonds. All the bonds were redeemed, with interest, after the war.
Weapons for Liberty – U.S.A. Bonds, Liberty bond poster by J. C. Leyendecker (1918) During World War I, the United States saw a systematic mobilization of the country's entire population and economy to produce the soldiers, food supplies, ammunitions and money necessary to win the war.
The Committee on Public Information (1917–1919), also known as the CPI or the Creel Committee, was an independent agency of the government of the United States under the Wilson administration created to influence public opinion to support the US in World War I, in particular, the US home front.
As the United States had little threat of a direct attack on its shores, the organization instead "maintained anti-saboteur vigilance, encouraged men to join the armed forces, facilitated the implementation of the draft, participated in Liberty Bond drives, and helped to maintain the morale of the soldiers."