The United States could not fund participation in the Great War without additional sources of revenue, for this duty the government needed Americans on the home front to collaborate. Liberty Loan/Bond Drives of World War I were developed to fund the war by spreading the cost as widely as possible, while at the same time increasing public support and patriotism. But even the minimum possible bond was a large sum of money for the average worker, who typically made less than 40¢ an hour. These items took the form of posters, labels or stickers, banners, postcards, blotters, hang tags, etc. Since the loans (and bonds) were called “Liberty”, a large portion of the advertising and propaganda used the Statue of Liberty or the Liberty Bell as a theme.
Liberty bonds helped the government of the United States to bear the wages and the cost of the war and these bonds were collected by the people of the United States on the home front to support the World War I effort.
Further Explanation:-
Liberty bond was a bond that was collected by people of the United States to support the military of their country as well as help the government to bear the cost of the war during world war 1. This act was seen as a patriotic duty and further introduced the idea of financial securities as it was given to the people of the United States during the same period of time. These liberty bonds are still used even today. During the period of world war 1, the most common way by which people could support the war was by using liberty bonds and saving stamps.
People who used these bonds and stamps to support the war also used to get their money back from the government with interest and that was another reason that people used to help the government in war as it was seen as a medium of savings. The organizations which initiated this movement started liberty loan drives all over the United States and meetings and rallies were held everywhere.
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Answer details:
Grade – High School
Subject – History
Chapter –Liberty Bonds
Keywords –Liberty Bonds, United States, Congress, Loan Drives, Government, World War 1, Support, Interest, Money, Authorize, Financial security, Patriotic.
