What are war bonds?

War bonds (sometimes referred to as victory bonds, particularly in propaganda) are debt securities issued by a government to finance military operations and other expenditure in times of war without raising taxes to an unpopular level.

Why were War Savings Bonds important in WW2?

The issuance of War Savings Bonds played a crucial role in financing World War II for the United States. The bonds provided funds for the military, contributing to the nation's victory in the war. Furthermore, they helped control inflation and promote savings, leading to post-war economic prosperity.

How were war bonds used in WW1?

In the U.S., the sale of war bonds was overseen by the War Finance Committee. War bonds were initially known as Defense Bonds and were first issued as Liberty Bonds in 1917 to finance the United States government's participation in World War I. Through the sale of these bonds, the government raised $21.5 billion dollars for its war efforts.