In order to pay for the American military effort during World War I, the United States government issued a series of loans known as Liberty Bonds. The federal government issued a total of five different liberty loans during the war. The fifth and final loan was known as the Victory Bond. Private citizens loaned the government money by purchasing these bonds. If they could not afford the cost of a bond, they could instead purchase war stamps and savings certificates for smaller amounts of money. At a later date, once the war was over, the government would pay back the loans with interest.
Ohioans, like Americans across the country, were encouraged to buy these Liberty Bonds. Citizens were told that it was their patriotic duty to support their troops by buying bonds. Many communities had special bond drives and competitions to encourage residents to participate. In 1918, Ohioans purchased 106 million dollars in Liberty Bonds, out of a total of two billion dollars worth sold across the nation.
- Keegan, John. The First World War. New York, NY: A.A. Knopf, 2001.
- Keene, Jennifer. The United States and the First World War. New York, NY: Longman, 2000.