Emma Weinstein

Red Group

3/4/2019

War Bonds

War bonds are government issued bonds that can be purchased by civilians and function

as loans for the government in order to fund a national war effort. In America, war bonds were

first introduced in the first world war, and were fairly successful, raising over 20 billion dollars

(War Bonds). War bonds were reintroduced in a number of countries during World War II and,

in America, were hugely popular, this time raising about 185 billion dollars. Through intense

advertising campaigns and civilian purchase, World War II war bonds helped to reduce inflation,

raise morale, and fund the war.

Because World War II saw the deployment of all able bodied young men, jobs were in

high supply and the majority of people had work. This meant many Americans were receiving a

steady income and were able to live decently, but, because of large scale war rationing of

materials and food, people often had excess of money to spend. This excess of money was in

combination with that of the government, who printed money early on to jumpstart the war

effort. War bonds provided this outlet for citizen money and was both productive and kept the

excess cash from causing extreme inflation (United States History).

War bonds were advertised in mass, generally through posters and videos that compelled

viewers emotionally in order to prompt them into making purchases. One video called upon

people to “Invest every cent you can in war bonds,” and other posters depicted war scenes
designed to instill a sense of patriotism in consumers (Nimitz, Wyeth). “Purchases of the Bonds

was largely linked to patriotism and to the feeling of ‘doing their part’ in the War,” (War Bonds).

“Millions of dollars in advertising space was donated as both private companies and government

agencies built support for purchasing war bonds. These efforts, and others on the homefront, had

the dual effect of helping finance the war and improving the morale of millions of Americans.

Through the shared sacrifice and their voluntary efforts, people felt that they were doing their

part on the home-front,” (Any Bonds Today: Selling Support for World War II). There was also

a wide push for celebrities to sell bonds, manifesting itself in a "Stars Over America" event in

which celebrities like Greer Garson, ​Bette Davis​ and Rita Hayworth toured around the world,

promoting bonds (United States History). Even poorer Americans were able to participate

through gradual purchases of discounted bounds (War Bond Stamp Book from World War II).

Generally, war bonds gave buyers the sense that they were assisting the war effort and gave a

boost in morale.

On average, war bonds cost about $25 each. Throughout WWII America raised 185

billion dollars, providing necessary funding for the war abroad. War bonds themselves were a

testament to the feeling of unification that swept through America during WWII, instilling a

sense of duty and patriotism in the hearts and minds of citizens. Although there were a few

Americans who did express annoyance at the government for the near constant advertising and

propaganda for war bonds, the consensus was that war bonds were a good thing. During WWII,

war bonds were crucial in keeping the war funded and those back home happy and dedicated.
 Works Cited

"Any Bonds Today: Selling Support for World War II." ​National Archives,​ www.archives.gov.

Accessed 4 Mar. 2019.

Nimitz, Chester, narrator. ​Buy War Bonds​. 1945. ​History.com,​ A & E Television Networks,

www.history.com. Accessed 4 Mar. 2019.

Onion, Rebecca. "The Relentless WWII War Bond Propaganda Could Be Really Irritating."

Slate​, 30 Apr. 2014, slate.com. Accessed 4 Mar. 2019.

United States History​. www.u-s-history.com. Accessed 4 Mar. 2019.

"War Bonds." ​Corporate Finance Institute,​ corporatefinanceinstitute.com. Accessed 4 Mar.

2019.

"War Bond Stamp Book from World War II." ​Museum of American Finance​, www.moaf.org.

Accessed 4 Mar. 2019.

Wyeth, N. C. ​"Buy War Bonds" Poster​. 1942. ​AM History​, amhistory.si.edu. Accessed 4 Mar.

2019.