Bonds of War: How Civil War Financial Agents Sold the World on the Union (Civil War America)

Product Information

In 1965, Ferdinand Marcos assumed the presidency of the Philippines, promising a “better life for the people” lest the Philippines become “the Vietnam of the 1970s.” His notoriously corrupt rule sparked student protests, high inflation, and calls for his removal from power. Marcos answered demonstrations with martial law in in 1972, ostensibly to prevent crime and revolutionary unrest. Marcos then purged the military, dissolved the legislature, and arrested his opponents. The United States, which depended on the Philippines’ military bases, raised no objections. The first three Liberty bonds, and the Victory Loan, were retired during the course of the 1920s. However, because the terms of the bonds allowed them to be traded for the later bonds which had superior terms, most of the debt from the first, second, and third Liberty bonds was rolled into the fourth issue.

While nationwide war bond campaigns are no longer as vigorous as those during the world conflicts, the U.S. government continues to sell bonds to pay for wars. Now, Series EE bonds, which the Department of the Treasury first issued in 1980 and then reissued as the Series EE Patriot Bond three months after Sept. 11, 2001, help pay for the U.S. government’s ongoing fight against global terrorism. What are my war bonds worth?When the United States invaded the Philippines and defeated the remnants of the Spanish Empire in August 1898, Washington had no plans for what came next. It got an insurrection — led by none other than Emilio Aguinaldo, the revolutionary Filipino leader the United States hoped would promote its claims of a benevolent invasion.

This post, originally published 13 September 2013, focused on violence in the Middle East, specifically Syria, and the potential that the United States could enter the conflict and what that might mean for the markets. Given the recent turmoil in Eastern Europe and the developing international crisis, we are responding to requests from Enterprising Investor readers to provide an update. Leaf, Walter (1927). Banking. Home university library of modern knowledge. H. Holt and Company. p.46. For the task of molding public opinion, Wilson turned to an investigative journalist, George Creel, who staffed the Committee on Public Information with psychologists, fellow journalists, artists, and advertising designers. The committee developed many of the techniques now associated with modern advertising. The magazine illustrator Howard Chandler Christy drew Liberty as an attractive young woman dressed in a see-through gown cheering on the troops. The man now regarded as the “father of public relations,” Edward Bernays, also worked for Creel, pioneering the techniques of manipulating and managing public opinion based on the theories of mass psychology. The committee appealed to innate motives: the competitive (which city would buy the most bonds), the familial (“My daddy bought a bond. Did yours?”), guilt (“If you can’t enlist, invest”), fear (“Keep German bombs out of your home”), revenge (“Swat the Brutes with Liberty Bonds”), social image (“Where is your Liberty Bond button?”), gregariousness (“Now! All together”), the impulse to follow the leader (President Wilson and Secretary McAdoo), herd instincts, maternal instincts, and – yes – sex. Bernays’s uncle was Sigmund Freud. But it is Capozzola’s story of Filipino laborers and their ingenuity in navigating the limits of empire that make his book such a rich read, and one that reveals the original qualities of US empire building. As ordinary Filipinos sought to act in the empire, their value became contingent on the extent to which United States expanded its power because of that labor. In the hope of securing their own land’s independence, Filipinos would participate, even volunteer, to strengthen the American empire beyond the Philippines, limiting the power of their own independence in the process. This was not so much a dialectical interaction as a synergistic relationship, a tale not of complicity but necessity. The People Power movement had other ideas. In February 1986, after Marcos claimed he won reelection handily, Filipinos occupied the streets of Manila with nonviolent protests, forcing the United States to finally distance itself from Marcos. Richard Nixon and his family at Manila International Airport with Ferdinand Marcos and his family. (White House)

To Order

Hillier, Norman. "Victory Loans". The Canadian Encyclopedia. Historica-Dominion . Retrieved 2009-12-12. Investments in securities market are subject to market risk, read all the related documents carefully before investing. How did the United States pay for the Civil War? Financier Jay Cooke helped save the Union and bring confidence to businesses, governments, and citizens rich and poor in the U.S. and in many countries throughout the world especially in Europe. According to David Thomson, Cooke and his traveling agents depended a great deal on International bond sales.