Financing World War One

Advertising War Savings Stamps in the
Sherburne County Star News, 1918

Paying for war is often a challenge for the United States government.  In the 1800s, financing war meant the government borrowed money from rich financiers.  Only with World War One did the United States government appeal to the general public for aid in paying for war.  The Liberty Bonds sales appeared to be very successful and often viewed as patriotic tests.  In Sherburne County, local leaders actively promoted the bond subscription drives and claimed significant success.

The government created four Liberty Bond programs in 1917 and 1918.  In 1919 the government also issued a fifth Victory Liberty Loan bond.  In total, Liberty Bonds raised $21.5 billion for the war effort.  With each bond program, Sherburne County received a quota of funding the county must raise.  The first Liberty Bond quota called for $130,000 from county patriots. 

The Sherburne County Star News praised the county for meeting the quota for the First Liberty Bond sale.  “Sherburne County has done its full share toward supplying Uncle Sam with funds for war purposes,” the newspaper praised. 

Unfortunately, after the first sale the quotas increased and the local population felt the pinch of war time expense.  A more active, better organized program became necessary.  A Sherburne County War Savings Committee developed plans to promote more bond sales.  The second campaign hoped to raise more than the $160,000 county quota. 

With the creation of the War Savings Committee, sales programs developed a sophistication beyond a simple patriotic appeal.  “It is planned to make a special campaign to interest the schools of the county for the sale of the war savings certificates and the stamps,” the newspaper reported. 

Under the war savings stamp program, the post office and local banks sold stamps valued at 25 cents each.  “You will be given a card to paste them on,” the newspaper ads said.  After pasting 16 stamps on the card, it could be redeemed at the local bank for a War Savings certificate.  After January 1, 1923, the certificate could be redeemed for five dollars. 

As part of the campaign, the committee encouraged competition among schools and students.  The school in Otsego “made the best record of the schools in this vicinity in the purchase of war savings certificates and thrift stamps,” the newspaper reported.  The average subscription of the 28 students in the school exceeded $40.  “Nearly $1.50 each for the pupils.” 

The liberty bond sales, the rationing and the draft, all illustrate the sacrifices made during World War One.  The first “war to end all wars” tested the citizens of the United States.  The challenges to support the war and continually sacrifice show Sherburne County as a singular population ready to step up and give.