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Funding the Wars

We act with the belief that the debt we are about to incur, stupendous though it is, is no greater than this, the greatest Republic of all time, owes to human civilization.

Representative Nicholas Longworth of Ohio, Speech to the U.S. House of Representatives, April 13, 1917

 

The U.S. fought both world wars at great cost to the nation. In addition to the expense of warfare, the federal government funded advertising campaigns to promote patriotism and encourage personal and community support for the war effort. Citizens purchased war bonds to finance essential defense spending and made sacrifices at home to comply with rationing and price-control policies.

4 Images Liberty Bonds Featured Every Liberty Bond is a Shot at a U Boat, . . . Buy a Liberty Bond, poster, ca. 1917
7 Images Controlling Wartime Prices Featured H.R. 5990, An Act to further the national defense and security by checking . . . inflationary tendencies (Emergency Price Control Act), January 27, 1942