Bonds+and+Loans-Financing+the+War

[] Originally called Defense Bonds prior to the attack on Pearl Harbor, War Bonds helped finance the war. World War II was the last time that war bonds were used. The public could purchase a War Bond in incriminates from $25-10,000, securing money for the war. The bonds essentially allowed the public to lend the government money, and in return, the buyer would receive a 2.9% interest. Around 134 million people were asked to buy bonds, President Roosevelt being the first person to buy one. Advertisement for the War Bonds produced the largest advertisement in U.S history, through The War Finance Committee and the War Advertisement Council’s help. Advertisement included the use of newspapers, radios, and magazines to promote an emotional appeal to buyers. Large newspaper companies donated space in its publications to promote the patriotism in purchasing the War Bonds. In the first three years, over a quarter of a billion dollars worth of advertisement was donated to broadcasting the bonds. Bond rallies, featuring famous Hollywood stars, also promoted war bonds. As an admission price for ballgames, fans were asked to purchase a war bond. In addition to bonds, stamps for ten cents could also be purchased to fund the war. Children, who could not buy bonds, could purchase ten cent stamps. The Girl Scouts came together and each scout bought a stamp. In total, $185.7 billion worth of bonds were purchased. **﻿ ** The video below is a Bugs Bunny cartoon promoting the sale of war bonds.

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In this video Henry Morgenthau, the U.S Secretary of Treasury, promotes the sale of war bonds.
The main source of advertisement for war bonds, which proved extremely effective during the war, was government-run bond tours. These tours traveled across the country and featured veterans, celebrities, live shows, parades, and many other forms of entertainment for encouraging the purchase of war bonds. The tours were intended to incite a sense of patriotism in Americans so that they would be willing to buy war bonds and help finance the shockingly expensive war. The most famoust bond tour during WWII was the seventh. This tour was critical to financing the final American offensives in both the Pacific and the European Theatres. The tour feateured the famous Rosenthal photograph of six boys raising an American flag on the Pacific island of Iwo Jima. The photograph inspired Americans with its display of patriotism and unselfish hard work. The tour was further enhanced as Franklin Roosevelt made the presidential order to call the flagraisers back from the Pacific to participate in the bond tour. The three surviving flagraisers, Jack Bradley, Ira Hayes, and Rene Gagnon, appeared in front of crowds of millions in a dozen cities during the spring of 1945. Led by these men, the seventh bond tour raised an astonishing $24 billion, nearly half of the total balance of the US treasury at the time. This astonishing sum greatly surpassed the goal of the bond tour, and helped the US to finance its final offensives of WWII.

Another important form of advertisement was the radio. Many programs included small explanations of why Americans should buy war bonds, or participate in other fundraising programs for the war, such as the ten percent club. One particular program featured the famous singer Frank Sinatra reading about war bonds.

War Bonds Ad with Frank Sinatra ANNOUNCER: Now here's a fella, here's a fella you all know, here's Frankie Sinatra! SINATRA: Hello ANNOUNCER: How ya feeling Frank? SINATRA: Oh, all right I guess. ANNOUNCER: Ah, ya had a bad throat last week some time, didn't ya? SINATRA: Yeah, but it's much better now thank you. ANNOUNCER: Sounds good now does it? SINATRA: Um-hm we hope so. ANNOUNCER: (laughs) Well I think I'll put you to work if you don't mind, you like to go to work? SINATRA: Not at all. ANNOUNCER: Tell'em all about the bonds will ya Frank? SINATRA: Well, it says here, "Are you investing your dollars, along with the millions of other real Americans? Have you joined the ten percent club, investing at least one dollar out of every ten of your income every week or pay day in war bonds? If not, sign up where you work today. ANNOUNCER: Thank you Frankie, and now you're going to sing what for us? You're going to sing you know.  SINATRA: I'm going to sing, "Be Careful, It's My Heart"--  ANNOUNCER: "Be Careful--"  SINATRA: --If Tommy plays the trombone for me  ANNOUNCER: --All right, "Be Careful, It's My Heart" with Tommy Dorsey on the trombone, all right Tommmy.

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