Wwii : Bombers, Radio, Women Working On The Homefront Essays

898 Words May 16th, 2016 4 Pages
There are many innovations that helped America be successful in WWII: bombers, radio, women working on the homefront, etc. However, a less known but still very important innovation was the creation of war bonds. During WWII, war bonds were created/advertised, used to produce war supplies, and then paid back after the war. War bonds existed before WWII, but it was Secretary of the Treasury Henry Morgenthau Jr. who began planning a defense bond program for the United States. He recruited political scientist Peter Odegard to help him create a program. They developed a voluntary loan system that was commonly called “defense bonds.” The idea was that citizens could purchase the bonds from the government, then the government would use the money to buy war supplies. The buyer would get a document that was redeemable after the war. People could take the form in sometime after the war get their money back, plus a small interest. The bonds were sold in varying monetary amounts, too. The most common bond sold for $18.75, and was redeemable for $25. Bonds could also be bought at any amount between $50 and $1000. For those who couldn 't afford a bond all at once, 10 cent savings stamps were available to be collected and put in a stamp book, then redeemed when enough were acquired. This method was especially popular with children. The War Finance Committee was in charge of supervising the sale of the bonds, and the War Advertising Council was in charge of promoting the bonds.…

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