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"A bond is a financial agreement that allows an issuer-in this case the U.S. government- to borrow money from a bond buyer, with the understanding that the money will be paid back with interest at an agreed upon time. Because most of the goods produced were for the war, there weren't many new products for the average person to buy. so personal savings increased." Factories went from producing shoes and clothes to bombs and tanks. "In 1939, private Americans' savings added up to $2.6 billion; in 1944, $29.6 billion. One of the primary places they put their money was war bonds." It makes sense to me, can't buy for yourself so buy to help get your country out of war. It sounds believable. "After Pearl Harbor, the bonds became known as war bonds or victory bonds. They were the same bonds with a patriotic label."
"The government asked Americans to buy bonds worth $18.75. In ten years each bond would be worth $25. Americans could also buy stamps for ten cents or more and paste them into a book until it added up to $18.75. During the war, eight huge war-bond drives were held. Advertisements for war bonds appeared everywhere!!! Clowns at Barnum and Bailey Circus, movie stars, comedians, and politicians pushed war bonds. There were booths at movie theaters and grocery stores. People regularly used part of their paychecks to buy bonds. Dorothy Chastney said, 'Once a week I would bring 10 or 25 cents to school and buy war-bond saving stamps and paste them in little booklets. Practically every kid in my class did that."
"Even thought the United States had issued bonds to help fund previous wars, bonds became something of a cultural phenomenon during World War II. The government raised more than $185 billion from war bonds from 1941 through 1945, with more than 85 million Americans purchasing them-more than half the U.S. population at the time-even children put dimes toward the bonds that would help the boys overseas!" It's amazing how everyone put so much money toward war bonds, especially coming straight out of a depression!!
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