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war bonds - 1/17/2005 11:32:44 AM   
Grunty


Posts: 42
Joined: 6/21/2004
From: unknown
Status: offline 		Can someone explain me the meaning of war bonds during WW2 in USA and how could an individual purchase (or sell?) them and what would good would that do to him?...

just curious ..always noticing those war bonds posters and wanna know more about that...

thanks

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RE: war bonds - 1/17/2005 12:00:07 PM   
mogami


Posts: 12789
Joined: 8/23/2000
From: You can't get here from there
Status: offline 		Hi, They are just special edition savings bonds issued to help pay for the war.

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RE: war bonds - 1/17/2005 3:32:42 PM   
Mike Scholl

 

Posts: 9349
Joined: 1/1/2003
From: Kansas City, MO
Status: offline 		Mog's right as far as he goes, but left out a couple of things. They were also pushed as
an anti-inflationary measure to "soak up" some of the personal income boosts being
recieved by war workers. And to provide a sense of "participation" on the home front
to maintain support for the war effort. The anti-inflationary portion may have been the
most important of all in the Governments eyes, as with few consumer goods being pro-
duced for people to spend those big new paychecks on there was a real need to provide
people with a place to invest that extra cash..., and it paid off big-time in the post war
economic boom when goods became available again and people started spending those
war bonds on new houses, cars, appliances, etc. No big depression this time around.

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RE: war bonds - 1/17/2005 6:01:05 PM   
Thayne

 

Posts: 748
Joined: 6/14/2004
Status: offline
quote:

ORIGINAL: Grunty

Can someone explain me the meaning of war bonds during WW2 in USA and how could an individual purchase (or sell?) them and what would good would that do to him?...

just curious ..always noticing those war bonds posters and wanna know more about that...

thanks


War bonds were savings bonds. You purchased a bond for $18.75. You then put it away in a desk drawer or in a safe deposit box, and in 10 years the government promised to buy it back from you for $25.00. (This is about a 3% interest rate.) Of course, to do this the government had to win the war . . . which gave everybody an incentive to make sure that it did just that.

You could purchase your war bonds at work. This works a lot like the modern 401(k) program. The company deducted money from your paycheck, and gave you war bonds instead.

You could also purchase war stamps for as little as 10 cents. You would put these stamps in a stamp book until you had $18.75 worth of stamps, which you could then trade in for a war bond. In this way, even children could participate in the war bond effort.

This meant that in the early 1950s, households were getting a lot of free cash. This then lead to the consumer culture of the 1950s, with everything from homes to washing machines to television sets being purchased on a massive scale.

As was mentioned above, this also had the advantage of taming inflation and spreading the cost of the war out among several people. Tax payers in the 1950s were still paying for the war by paying taxes to buy back the war bonds from 10 years earlier.

< Message edited by Thayne -- 1/17/2005 4:02:32 PM >

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RE: war bonds - 1/17/2005 7:07:32 PM   
DrewMatrix


Posts: 1429
Joined: 7/15/2004
Status: offline 		Even more simply (all the stuff about effects on inflation and providing a stimulatory cash injection intot he economy int he 1950s):

War bonds were basically people choosing to loan money to the federal government. In return the people loaning the money got interest and they did it in part because they thought the government needed the money just then to fight the war.

At present US Savings bonds are loaning money to the government. US treasury bonds are loaning money to the government. Same thing.

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RE: war bonds - 1/18/2005 1:57:57 AM   
rogueusmc


Posts: 4583
Joined: 2/8/2004
From: Texas...what country are YOU from?
Status: offline 		Individual communities pooled also to get recognition...so much in bonds would get them a freighter or some such named after them.

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RE: war bonds - 1/18/2005 1:01:12 PM   
WhoCares


Posts: 653
Joined: 7/6/2004
Status: offline
quote:

ORIGINAL: rogueusmc

Individual communities pooled also to get recognition...so much in bonds would get them a freighter or some such named after them.

Now, those Luckenbachs must have been a rich family

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Post #: 7
RE: war bonds - 1/18/2005 2:43:10 PM   
AmiralLaurent

 

Posts: 3351
Joined: 3/11/2003
From: Near Paris, France
Status: offline
quote:

ORIGINAL: WhoCares

quote:

ORIGINAL: rogueusmc

Individual communities pooled also to get recognition...so much in bonds would get them a freighter or some such named after them.

Now, those Luckenbachs must have been a rich family


Actually, they were. Pre-war ships' owners, as the Luckenbachs in the game were all built before the war and not with war bonds.

(in reply to WhoCares)
Post #: 8
RE: war bonds - 1/18/2005 3:00:15 PM   
eMonticello


Posts: 525
Joined: 3/15/2002
Status: offline
quote:

ORIGINAL: WhoCares

quote:

ORIGINAL: rogueusmc

Individual communities pooled also to get recognition...so much in bonds would get them a freighter or some such named after them.

Now, those Luckenbachs must have been a rich family


It was a dynasty that lasted nearly 100 years.

Below is the Merchant Marine website:

http://www.usmm.org/ships1939.html




Attachment (1)

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RE: war bonds - 1/19/2005 6:17:36 AM   
RUPD3658


Posts: 6922
Joined: 8/28/2002
From: East Brunswick, NJ
Status: offline 		After 9-11 the US government renamed one of it's bonds the Patriot bond. Govenment bonds have always been around and most advisors recommend keeping a small portion of savings in them.

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