This volunteer army stationed women at factory gates to distribute seven million fliers on Liberty Day. The mail-order houses of Montgomery Ward and Sears-Roebuck mailed two million information sheets to farm women. Celebrities were recruited. Charlie Chaplin, Mary Pickford, and Douglas Fairbanks, certainly among the most famous personalities in America, toured the country holding bond rallies attended by thousands. Public sentiment before was not only against American involvement in the war, but it was not even united on which European military to root for.
So, not surprisingly, his administration needed a major campaign to persuade the public of the necessity and the legitimacy of military action against Germany.
Speaking of Liberty | Mises Institute
This was a challenge because American involvement was not predicated on a desire for territory or revenge but on an intangible ideal. For the task of molding public opinion, Wilson turned to an investigative journalist, George Creel, who staffed the Committee on Public Information with psychologists, fellow journalists, artists, and advertising designers. The committee developed many of the techniques now associated with modern advertising. The magazine illustrator Howard Chandler Christy drew Liberty as an attractive young woman dressed in a see-through gown cheering on the troops.
Did yours? That is pretty impressive given that there were only twenty-four million households at the time. Almost exactly two-thirds of the war funds came from bonds and one-third from taxes. A government survey of almost 13, urban wage-earners conducted in and indicated that 68 percent owned Liberty Bonds.
McAdoo had taken a gamble when he depended on faith that Americans could be induced to save more heavily than they would otherwise. He won that gamble. Saving rates shot up during the war and then returned close to their pre-war levels following the end of hostilities. Consumption as a percent of personal income fell during the war, by roughly 10 percentage points.
For details on this maneuvering, see the autobiographies of McAdoo [ ] and Glass [ ].
These ad valorem taxes ranged from 3 percent on chewing gum and toilet soap to percent on brass knuckles and double-edged dirk knives. There were also a variety of miscellaneous war taxes introduced. These included taxes on transportation services; admissions to places of entertainment; social, athletic, and sporting club dues; a stamp tax on legal documents; a tax on the value of outstanding corporate stock; and a tax on the use of yachts.
A Liberty Bond with its coupons. Twice each year the owner would clip out one of the coupons and cash it in at the local bank. Reproduced with the kind permission of the Joe I. Herbstman Memorial Collection of American Finance. A War Thrift Stamp. Children were encourage to purchase these stamps and collect them in a booklet which might be exchanged for a Savings Certificate.
Women were asked to take their change in thrift stamps when shopping. Celebrities were enlisted to promote bond sales. Some of the most famous personalities in America toured the country holding bond rallies attended by thousands.
Jimmy Carter pokes fun at Trump in graduation speech at Liberty University
For firsthand accounts of the Liberty Bond Campaign and the collaboration between the Treasury Department and the Federal Reserve see:. Glass, Carter.
New York: Doubleday, Page and Co. Leffingwell, R. McAdoo, William G. McAdoo [with W.
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McAdoo and Newton D. Baker, Baltimore: Johns Hopkins University Press, Ghizoni, Sandra Kollen. Herbstman, Joshua T. Mock, James R. Princeton: Princeton University Press, Schuffman, Lawrence D. Lynchburg, Virginia CNN Donald Trump pitched himself Monday to Christian students at Liberty University as a politically incorrect protector of Christianity, tailoring his classic stump speech to the evangelical audience with mixed success.
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What horrid stillness! Here in this dark tomb, is nothing known But my deep anguish! Oh, most cruel torture! Oh, Heavenly Providence, how much longer Will this my misery last! In the bright morning of life My liberty, alas!