For over seven decades, savings bonds have been viewed as a patriotic investment and a way to support our country. Bond owners take pride that they played an important role in American history by purchasing savings bonds.
Spring Lake, NJ (PRWEB) May 22, 2013
Americans usually associate Memorial Day with a kickoff to the summer season and a long weekend spent barbequing and gatherings with friends and family. However, many savings bond owners have a more meaningful, patriotic, connection with the holiday. While many owners purchased savings bonds for their safety and security features, millions obtained savings bonds to support America during times of war.
According to Wikipedia, Memorial Day “originated after the American Civil War to commemorate the Union and Confederate soldiers who died in the Civil War. By the 20th century Memorial Day had been extended to honor all Americans who have died while in the military service. The preferred name for the holiday gradually changed from 'Decoration Day' to 'Memorial Day', which was first used in 1882.” However, the celebration of “Memorial Day” did not become common until after World War II.
Some of the first U.S. Savings Bonds issued were called “War Bonds”. In 1941, Franklin D. Roosevelt announced a new "Defense" savings bond (also know as the Series E bond) and invited all Americans to join him in "one great partnership". In the mid 1940's, the US Finance Department had given 85 million savings owners a reason to believe that they too had helped win the war by purchasing US Savings Bonds.
Savings bond sales soared to support the military, especially during war times. In July, 1942, over 500 national consumer magazines had printed the same design of an American flag with a US War Bond as a symbol of support of the “War Bond” program. From May, 1941 through December, 1945, more than $54 billion worth of War Bonds were sold. These bond sales were a key factor in financing World War II.
During the Vietnam war era in the late 1960’s and following the 2001 terrorist attacks, various names were assigned to bonds, including “Freedom Shares” and “Patriot Bonds". They, too, were designed to help promote the sale of savings bonds to support America’s defense programs.
For over seven decades, savings bonds have been viewed as a patriotic investment and a way to support our country. Owners take pride that they played an important role in American history by purchasing savings bonds. For this very reason, many Americans, especially seniors who supported our country during several different wars, feel an emotional attachment to their savings bonds, especially during a traditional American holiday.
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