Sarah Sundin's Blog, page 510

World War II War Bonds

Wars are expensive. The Second World War cost the United States $300 billion dollars, with the federal budget rising from $9 billion in 1939 to $98 billion in 1945. How was the nation to pay for that?

Taxes were increased with an additional 5 percent Victory Tax. To assure payment, on June 10, 1943 the government approved the first automatic deduction of taxes from paychecks. But more was needed, and the government turned to bonds, which had been effective in World War I. War bonds were sold at 75 percent of face value (a $25 bond sold for $18.75) and matured over ten years. While the rate of return was below market value, bonds were a stable investment with the bonus of aiding the war effort. Channeling cash into bond purchases helped prevent inflation in the robust wartime economy as well.

How Purchased

Defense Bonds first went on the market on May 1, 1941, and they were renamed War Bonds after the US entered the war in December 1941. Bonds were available in denominations of $25 through $1000, designed to be affordable for everyone. People could also purchase stamps for 10 cents, which were placed in special albums. When full, the albums were redeemed for a bond. War stamps were especially popular with children.

Employers set up automatic payroll deduction systems, in which employees could set aside a certain amount for War Bonds with each purchase. A robust advertising campaign, rallies and other promotions, and a series of War Loan Drives brought in even more needed money.

Advertising

As part of the war effort, many newspapers, magazines, and radio stations donated advertising space and time. Posters sprang up in store fronts. Even comic books got in the act as superheroes promoted bond sales. Popular songs alos encourage sales, such as Bing Crosby's recording of "The Road to Victory" for the Sixth War Loan Drive.

Promotions

Bond rallies were extremely popular, featuring Hollywood stars and popular musicians. Celebrities also conducted auctions - a kiss from Hedy Lamarr, Betty Grable's stockings, Jack Benny's violin, and the horseshoes of Triple Crown winner Man O' War. Movie theaters and baseball stadiums sometimes offered free admission with the purchase of a War Bond.

War Loan Drives

Eight War Loan Drives were conducted from 1942 to 1945. Each was meant to raise an additional $9-$15 billion in sales. Towns received quotas, with the aim of promoting competition between towns. Volunteers went door-to-door, pleading for sales, and rewarding purchasers with stickers to display on their window or door. The drives were conducted on the following dates:
First War Loan Drive: Nov. 30 to Dec. 23, 1942
Second War Loan Drive: Apr. 12 to May 1, 1943
Third War Loan Drive: Sep. 9 to Oct. 1, 1943
Fourth War Loan Drive: Jan. 18 to Feb. 15, 1944
Fifth War Loan Drive: June 12 to July 8, 1944
Sixth War Loan Drive: Nov. 20 to Dec. 16, 1944
Seventh War Loan Drive: May 14 to June 30, 1945
Victory Loan Drive: Oct. 29 to Dec. 8, 1945



By the end of the war, 85 million Americans had purchased $185.7 billion dollars of bonds - over $2000 per person, when the average income was $2000 per year.
The patriotism and personal sacrifice of the average citizen played a significant part in the Allied war effort.

Today in World War II History

70 Years Ago—Aug. 8, 1941: Germans close Uman pocket in Ukraine, take 100,000 Soviet POWs.

Today in World War II History

70 Years Ago—Aug. 7, 1941: Soviet air force bombs Berlin for first time. Mussolini's son Bruno killed in crash of P108 bomber.

Today in World War II History

70 Years Ago—Aug. 6, 1941: US planes based in Iceland began patrols over North Atlantic. Lt. Gen. Wladyslaw Anders appointed to form Polish army in USSR, but never allowed to fight.

Book and Apron Giveaway Winners!

Thank you, everyone, for helping me celebrate the release of my third novel, Blue Skies Tomorrow!

The winner of a copy of Blue Skies Tomorrow is Meg Sweatman! Meg, I sent you a message on Facebook.

The winner of the vintage apron is Jammy! Jammy, I'll send you an email.

Thanks again, everyone!

Today in World War II History

70 Years Ago—Aug. 5, 1941: Germans overrun Smolensk pocket and take 300,000 Soviet POWs.

Blue Skies Tomorrow - Book and Apron Giveaway!

Blue Skies Tomorrow officially released this week! To celebrate, I'm holding a drawing for a copy of my novel and for a gorgeous apron sewn by my friend Marci Seither - the apron is made from vintage fabric with a vintage pattern and has the book cover printed on the pocket! Here's a picture of me wearing one of the aprons. Only you'll look cuter.

In Blue Skies Tomorrow, Lt. Raymond Novak prefers the pulpit to the cockpit, but at least his stateside job training B-17 pilots allows him the luxury of a personal life. As he courts Helen Carlisle, a young war widow and mother who conceals her pain under a frenzy of volunteer work, the sparks of their romance set a fire that flings them both into peril. After Ray leaves to fly a combat mission at the peak of the air war over Europe, Helen takes a job in a dangerous munitions yard and confronts an even graver menace in her own home. Will they find the courage to face their challenges? And can their young love survive until blue skies return?

To enter the drawing, please leave a comment and say whether you'd like to be entered for the book, the apron, or both. PLEASE include your email in the comment in this format - sarah [at] sarahsundin [dot] com. No purchase necessary, void where prohibited by law, side effects may include sudden death, etc.

If you entered earlier this week, you don't have to enter again. I'll conduct the drawing late tonight and post the winner tomorrow, Friday, August 5.

Today in World War II History

70 Years Ago—Aug. 4, 1941: US commits to send arms to USSR. US Far East Air Force (Philippines) activated under Maj. Gen. Lewis Brereton.

Today in World War II History

70 Years Ago—Aug. 3, 1941: Germans capture 38,000 Soviet POWs at Roslovl, Russia.

Today in World War II History

70 Years Ago—Aug. 2, 1941: US Office of Production Management seizes silk supply and takes control of silk industry, reserves steel for government use only, restricts use of rayon. US bans oil exports except to Britain or western hemisphere nations.