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Liberty Loans

& Bonds

To finance the war, the United States Treasury Department issued Liberty Loans and war bonds, five times – twice in 1917, twice in 1918, with the last on April 21, 1919. Consisting of $4.5 billion in gold notes at 4.75% interest, the fifth bond issue matured after four years but could be redeemed by the government after three. 


While liberty bonds were purchased primarily by financial institutions, war savings stamps were principally aimed at common citizens.


 Local banks sold 25¢ stamps that individuals could accumulate to purchase a $5 War Savings Certificate. Subscribing to war bonds and purchasing savings stamps became a symbol of patriotic duty, and Hinsdaleans certainly did their part financially. 


Quotas for every campaign were usually substantially oversubscribed with over a $1 million worth of securities purchased.

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