My mother, Betty Lou is featured today with a photo of her diving on her high school team in 1943 at the Horace Mann High School in Gary, Indiana. She was 17 years old.
She along with hundreds of thousands supported special war bond drives both at school, movie theaters and wherever they could to raise money during WWII. The following is an excerpt from one of my father’s wartime letters published in Comes A Soldier’s Whisper, applauding his then sweetheart, Betty Lou for her contribution to sell war bonds. She later became his wife and my mother.
June 3, 1943
“Darling, I’m proud of you for selling those bonds. If only everyone would do that, for it’s equipment we need now and not men. Of course, we are getting more and more every day. It won’t be long now. At least, I hope not. That’s a swell drive your school is putting on.”
~David Clinton Tharp, 101st Airborne 502nd PIR
The last time the United States issued war bonds was during World War II, when full employment collided with rationing, and war bonds were seen as a way to remove money from circulation as well as reduce inflation.
Issued by the U.S. Government, they were first called Defense Bonds. The name was changed to War Bonds after the Japanese attack on Pearl Harbor, December 7, 1941. Known as debt securities for the purpose of financing military operations during war time, the bonds yielded a mere 2.9 percent return after a 10-year maturity.
Living in the United States with a median income during World War II meant earning about $2,000 a year. Despite the waru0092s hardships, 134 million Americans were asked to purchase war bonds to help fund the war. Stamps also could be purchased, starting at 10 cents each, to save toward the bond.
At the end of World War II, January 3, 1946, the last proceeds from the Victory War Bond campaign were deposited into the U.S. Treasury. More than 85 million Americans u0097 half the population u0097 purchased bonds totaling $185.7 billion. Those incredible results, due to the mass selling efforts of helping to finance the war, have never since been matched.
The Series E bond was withdrawn on June 30, 1980, when the Series EE bond replaced it, and the War Bond became history.
Perhaps America needs to bring back War bonds along with the WWII patriotism and nationwide teamwork!
Comes A Soldier’s Whisper, remembering history and its patriots, one day at a time…
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Text Portion: www.u-s-history.com/pages/h1682.html
