50 Dollar Fourth Liberty Loan Gold Bond of 1933-1938 - Gorgeous


50 Dollar Fourth Liberty Loan Gold Bond of 1933-1938 - Gorgeous

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50 Dollar Fourth Liberty Loan Gold Bond of 1933-1938 - Gorgeous:
$1500.00


Fifty Dollar Fourth Liberty Loan 4 1/4% Gold Bond of 1933-1938. A Liberty bond (or liberty loan) was a war bond that was sold in the United States to support the Allied cause in World War I. Subscribing to the bonds became a symbol of patriotic duty in the United States and introduced the idea of financial securities to many citizens for the first time. There were four issues of Liberty Bonds: April 24, 1917: Emergency Loan Act (Pub.L.653) authorizes issue of $1.9 billion in bonds at 3.5 percent. October 1, 1917: Second Liberty Loan offers $3.8 billion in bonds at 4 percent April 5, 1918: Third Liberty Loan offers $4.1 billion in bonds at 4.15 percent. September 28, 1918: Fourth Liberty Loan offers $6.9 billion in bonds at 4.25 percent. Interest on up to $30,000 in the bonds was tax exempt only for the First Liberty Bond. The First Liberty Loan Act established a $5 billion aggregate limit on the amount of government bonds issued at 30 years at 3.5% interest, redeemable by the government after 15 years. It raised $2 billion with 5.5 million people purchasing bonds. The 2nd Liberty Loan Act established a $15 billion aggregate limit on the amount of government bonds issued, allowing $3 billion more offered at 25 years at 4% interest, redeemable after 10 years. The amount of the loan totaled $3.8 billion with 9.4 million people purchasing bonds. The response to the first Liberty Bond was unenthusiastic and although the $2 billion issue reportedly sold out, it probably had to be done below par because the notes traded consistently below par. One reaction to this was to attack bond traders as "unpatriotic" if they sold below par. The Board of Governors of the New York Stock Exchange conducted an investigation of brokerage firms who sold below par to determine if "pro-German influences" were at work. The board forced one such broker to buy the bonds back at par and make a $100,000 donation to the Red Cross. Various explanations were offered for the weakness of the bonds ranging from German sabotage to the rich not buying the bonds because it would give an appearance of tax dodging (the bonds were exempt from some taxes). A common consensus was that more needed to be done to sell the bonds to small investors and the common man, rather than large con Item ordered may not be exact piece shown. All original and authentic.

50 Dollar Fourth Liberty Loan Gold Bond of 1933-1938 - Gorgeous:
$1500.00

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