War bond
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War bonds were a form of savings bond used by many combatant nations to help fund World War I and World War II. They were also a measure to manage inflation by removing money from the economy heated up by the war efforts.
In the United States, during World War II, a promotional cardboard container with slots for quarters was used to encourage savings. There were 75 slots for $18.75 in quarters. When it was full, one turned it in at the post office for a $25 war bond which matured in 10 years. These were at first called defense bonds, until the name was changed to war bonds after the attack on Pearl Harbor.
National Service Board for Religious Objectors offered civilian bonds in the United States during WWII primarily to members of the historic peace churches as an alternative for those who could not conscientiously buy war bonds. These were U. S. Government Bonds not labeled as defense bonds. In all, 33,006 subscriptions were sold for a total value of $6,740,161, mostly to Mennonites, Brethren and Friends.[#endnote_gingerich] In a similar way, an alternative to war savings stamps was offered to school children.
War bonds in the United States evolved into U.S. Savings Bonds. Canada also uses a variant of the investment form as Canada Savings Bonds which are marketed for a limited time annually.
Notes
- ↑ Gingerich, Melvin (1949), Service for Peace, A History of Mennonite Civilian Public Service, Mennonite Central Committee, pp. 355-358.
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