WAR BONDS

During World War II, the U.S. issued war bonds to finance military operations. Originally called Defense Bonds, the name changed after the Pearl Harbor attack in 1941. These bonds offered a 2.9% return after 10 years. With a median income of about $2,000, Americans were asked to purchase bonds or buy stamps starting at 10 cents to save toward a bond.

The first Series ‘E’ bond was sold to President Roosevelt in 1941, priced at 75% of its face value, in denominations of $25 up to $10,000. The War Finance Committee and War Advertising Council led the bond drive, which used intense media campaigns across radio, newspapers, and magazines. These emotional ads, often featuring celebrities and comic strip characters, urged Americans to contribute to the war effort.

Bond rallies with Hollywood stars like Greer Garson and Bette Davis helped further promote bonds, with "Stars Over America" raising $838.5 million. Special events like D-Day ads and Girl Scouts selling stamps also contributed. Norman Rockwell's iconic illustrations and Irving Berlin's song "Any Bonds Today?" were central to the campaign's success.

Sports events also supported the drive, with games offering war bonds as admission. A 16-hour radio marathon sold nearly $40 million worth of bonds, featuring Kate Smith singing "God Bless America."

By January 1946, more than 85 million Americans had purchased bonds totaling $185.7 billion, marking an unprecedented achievement in financing the war effort.