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The 2nd Liberty Loan Act established a $15 billion aggregate limit on the amount of government bonds issued, allowing $3 billion more offered at 25 years at 4% interest, redeemable after 10 years. The amount of the loan totaled $3.8 billion with 9.4 million people purchasing bonds.
The most famous of bonds poster depicted a boy scout handing a sword to Lady Liberty that is suited for battle. [5] The scouts ended up selling 2,328,308 liberty bonds between 1917 and 1918. This totaled $354,859,262 that the government owed to the people of the United States and $43,043,698 allocated to the Allied forces.
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 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 French government floated four war bond issues on the London market and raised 55 million pounds. These bonds were denominated in francs instead of pounds or gold, and were not guaranteed against exchange rate fluctuations. After the war the franc lost value and British bondholders tried, and failed, to get restitution. [52]
LIBERTY, Mo. -- You hear stories from time to time about people finding hidden treasures after a trip to a thrift store. A Clay County woman never imagined it would happen too her, but it did.
The Philadelphia Liberty Loans Parade was a parade in Philadelphia, Pennsylvania, on September 28, 1918, organized to promote government bonds that helped pay for the needs of Allied troops in World War I. More than 200,000 Philadelphians attended the parade, which led to one of the largest outbreaks of the Spanish flu in the United States. It ...