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War Bonds Essay

  • Submitted by: jerd8848
  • on November 13, 2012
  • Category: English
  • Length: 610 words

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Below is an essay on "War Bonds" from Anti Essays, your source for research papers, essays, and term paper examples.

War bonds are a method of financing war that reduces demand for goods and services by taking money out of circulation through investment in the bonds. This provides funds to underwrite the war. Modern warfare is an expensive business and must be financed carefully, else a government risks triggering inflation by increasing demand for goods. One method of avoiding this outcome is to raise taxes to finance the war, but such methods risk making a war unpopular. Through the more popular method of selling war bonds, citizens, in effect, invest in the war effort of their government just as they might invest in stocks. Selling war bonds lessens the need for tax increases.
During World War I, the U.S. government raised $5 billion through the sale of Liberty Bonds. Mass rallies to sell the bonds featured celebrities such as Douglas Fairbanks, Sr. Nonetheless, when most Americans talk about war bonds they are generally referring to the bonds sold during World War II. In part this is because the efforts of World War I involved a good deal of compulsion rather than persuasion. During that war school children were badgered, courts imposed illegal fines on those not owning bonds, and the houses of non-purchasers were painted yellow. But World War II bonds are probably better remembered simply because, by then, mass media had expanded considerably and the scale of the media campaign was greater.

War bonds were but one of the means at the government's disposal to regulate the wartime economy. During World War II, the cost of living in the United States increased by about thirty-three percent. Most of this increase occurred before 1943, when the government put strict price controls in place through the Office of Price Administration. The Revenue Act of 1942 established the modern American tax structure, which saw the tax base increase fourfold and introduced tax withholding. Through these measures, the government raised about fifty percent of its costs during the war. This was...

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War Bonds. Anti Essays. Retrieved December 11, 2018, from the World Wide Web: http://parimatch-stavka7.com/free-essays/War-Bonds-348838.html


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