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What were Liberty Bonds used for in World War I?

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Quick Answer

Liberty Bonds were sold in World War I in the United States to help citizens support the allies. Even though they only were a moderate success, Liberty Bonds played an important part in the introduction of the financial security concept in the U.S.

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Full Answer

The U.S. government issued Liberty Bonds in four waves between 1917 and 1918. Approximately 5.35 million people purchases the first issue of Liberty Bonds, for a total of $2 billion. The second Liberty Bond Act raised $3.8 billion from 9.4 million buyers. Most of the Liberty Bonds were refinanced after the war through other types of government securities.

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