theme:

War and the Economy

photograph of

This image from the papers of Benjamin Strong Jr. shows the cover of the program for a Liberty Loan Organization "victory dinner" held in May 1919.   

War finance is the area of public finance and economics devoted to the collection and use of resources to fund and supply wars. In the United States, this has been tied to the creation of public war finance corporations and the sale of government bonds to the general population as a fund-raising effort. Wartime has also affected people at home through changes in availability and types of employment, food, and goods.

Federal Reserve Bank of St. Louis, One Federal Reserve Bank Plaza, St. Louis, MO 63102