Why Saving Money After World War I Was A Patriotic Duty

 

Colorized version of a black and white poster printed in the 
Davenport Democrat and Leader. May 11, 1919.

By 1919, the guns had fallen silent.

American soldiers were coming home from Europe. Victory parades filled the streets. People were ready to get on with their lives.

There was just one problem. The war had cost a staggering amount of money.

The government had borrowed billions to build ships, equip soldiers, feed armies, and keep supplies flowing across the Atlantic. Winning the war was only half the battle. Now the government had to pay for it.

Instead of raising taxes, the Treasury doubled down on something it had already introduced during the war—the War Savings Stamp program.

The idea was brilliantly simple. Almost anyone could afford a stamp. Buy one when you had a few extra cents. Buy another the next week. Eventually you’d have enough to exchange them for a Treasury Savings Certificate that earned interest.

It wasn’t just about financing the government.

Washington wanted Americans to develop better financial habits. Thrift became a civic duty. Every dollar tucked away was a dollar that helped reduce inflation, strengthen the economy, and chip away at the nation’s war debt.

That’s the message behind The Appeal of Thrift, Haskell Coffin’s 1919 Treasury poster.

It reminded Americans that patriotism hadn’t ended with the armistice. They needed to step up and buy war savings stamps.

It was one more way to serve their country.