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.
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.