The Sale of War Bonds

Category

Library Item

Item no

32746

Title

The Tank "Bank" in Trafalgar Square for the Sale of War Bonds and War-Savings Certificates: The First Purchaser - A Wounded Officer

Description

From the Illustrated London News published December 1st, 1917, page 661. Drawn by F. De Haenen.

Artist / maker

Unknown

Date

1917

Size

39.6 x 26.7 cm

Type

Press cutting; Reproduction

Location

Reference Library

The scale and duration of the First World War was a costly endeavour for the warring governments and money became an important factor in securing victory. While increased taxation was one method used to raise money during war-time, many governments borrowed the necessary funds, sometimes from other nations and sometimes from its own citizens. Germany borrowed from the Netherlands and Sweden, France from Britain, and Britain from Canada and the United States. When this was not enough, some governments took to the desperate measure of printing money to bolster the war effort, a method that would later lead to hyper-inflation, which was seen in post-war Russia and Austria-Hungry.

In Britain, the government borrowed from its people by selling National War Bonds. These bonds, which offered tempting interest rates, appealed to rising patriotism and were largely successful, helping Britain secure the funding to support its war efforts.

Read about the war effort at home and the sale of National War Bonds from the British Library.

You can search the entire 1914-19 archives of the Illustrated London News online.

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Events > Wars > World wars

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People > Military activities > Soldiers

Places > United Kingdom > London

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