Letter 15 - War Bonds
When we think of War Bonds, we picture Captain America up on stage with a bunch of scantily—but patriotically—clad girls, punching an actor dressed as Adolf Hitler in order to inspire the audience to buy War Bonds.
But what are War Bonds? Well, during WWII, the United States spent nearly four years at war, which ultimately got pretty expensive. The government needed over 4 trillion in today’s dollars in order to fund the war effort! In order to raise money quickly, they turned to American citizens by way of War Bonds.
War Bonds are debt sold by the government to fund military operations.
Over 85 million Americans bought war bonds during WWII
The US raised $185.7 million from selling war bonds during WWII
In order to inspire the public to buy War Bonds, they were presented as an investment as well as a way to be patriotic. For example, Series E bonds were sold at 75% face value with a 2.9% interest rate.
Turns out that if you happen to still have some of your war bonds, or inherited some from your parents or grandparents, they might be worth something today.
Here’s an article all about that: