First War Loan begins

Seventy years ago today, on 30 November 1942, President Roosevelt announced the First War Loan, an initiative to foster the sale of war bonds spearheaded by the US Treasury Department and Treasury Secretary Henry Morgenthau. Although war bonds had been sold since May 1942, aggressive bond drives with funding goals were established and the campaign initiated in November 1942 would be the first of seven such numbered drives. The First War Loan far surpassed its $9 billion goal and raised a total of $13 billion.

Post by Curator Kimberly Guise.