U. S. HomeFront World War I

How Did the U. S. Finance the World?

I had a quiz like this and this is what I mostly wrote down but never used it since I made a new one! Also some atricles are down there! Hopes this helps.

Explanation:

However, most of America's wartime spending was funded by war bonds. Like savings bonds, war bonds provided purchasers with a guaranteed return at a future date. The government promoted its “Liberty Bonds” with a nationwide campaign calling on the public's patriotism.

The U.S. Food Administration headed by Herbert Hoover encouraged households with its slogan, "Food will win the war." Though formal rationing was not instituted during World War I, housewives were encouraged to "self-sacrifice" voluntarily by cutting waste and adopting meatless Mondays, wheatless Wednesdays, and even porkless Thursdays and Sundays. Children too were told to "clean their plates" whilst thinking "of the starving orphans" of Europe. Liberty Bonds and Thrift Stamps helped to fund the war. Bonds were hawked by celebrities such as Charlie Chaplin and Al Jolson, by scout troops and by librarians. For example, 4.5 million Liberty Loan reminder cards were placed books at public libraries by more than 60,000 women volunteers throughout the country. Communities competed to raise funds for the war effort. By war's end, the four Liberty Bond drives raised more than $17 billion from over 20 million individuals.

Of the total cost of the war, about 22 percent was financed by taxes and from 20 to 25 percent by printing money, which meant that from 53 to 58 percent was financed through the bond issues. Note: Direct money creation is the increase in the stock of high-powered money net of the increase in monetary gold.

The U.S. took over the financing of the Allies in 1917 with loans that it insisted be repaid after the war. The victorious Allies looked to defeated Germany in 1919 to pay reparations that would cover some of their costs.

According to https://eh.net/encyclopedia/u-s-economy-in-world-war-i/

" Of the total cost of the war, about 22 percent was financed by taxes and from 20 to 25 percent by printing money, which meant that from 53 to 58 percent was financed through the bond issues. Note: Direct money creation is the increase in the stock of high-powered money net of the increase in monetary gold."

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I hope it helps!

democracy

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