Buying War Bonds

Buying War Bonds

Buying War Bonds
Reading Level

	edHelper's suggested reading level:	grades 8 to 9
	Flesch-Kincaid grade level:	6.97

Vocabulary

	challenging words:		pointed, investment, maturity, patriotism, contribution, copyright, enlist, rallies, admission, addition, patriotic, billion, provided, eventually, oversee, general
	content words:		During World War II, In May, Defense Bonds, Pearl Harbor, War Bonds, War Stamps, War Bond, President Roosevelt, War Finance Committee, Irving Berlin

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Buying War Bonds
By Mary Lynn Bushong

¹     There are many expenses included in military operations. The more active the military is, the more costs are involved. Where does a country get the money to go to war? During World War II, it was through the sale of war bonds.

²     During the spring of 1941, it became increasingly obvious that the U.S. would be drawn into the European conflict. In May, the series E Defense Bonds were issued. The surprise attack by the Japanese on Pearl Harbor, Hawaii, on Dec. 7, set the American war machine into running at full gear. When war was declared, the name of the bonds was changed from defense to war to enlist the patriotism of the people.

³     The War Bonds not only raised money for the government but also acted as an investment for the general public. A ten dollar bond was purchased for $7.50 or 75% of its face value. In ten years the bond would reach maturity and be worth its face value. There were many different denominations or values of bonds. They ranged from $10 to $100,000 in value.

⁴     Ten dollars might not seem like much money now, but it represented a week's wages or more to many people. At that time, the average worker earned as little as 15 and as much as 40 cents an hour. That meant the wages for a forty hour work week were between 6 and 16 dollars.

⁵     Many people could not afford even the least expensive bonds, yet they wanted to participate. To give everyone the option of helping, War Stamps were issued. Their face value began at 10 cents and went up from there. When a person had enough stamps they could be traded for a War Bond.

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