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To: Enigma who wrote (76866)	9/18/2001 1:42:40 PM
From: long-gone	Respond to of 116752

War Bond Legislation Introduced In Senate By Jim Burns CNSNews.com Senior Staff Writer September 18, 2001 (CNSNews.com) - Among the popular sayings during World War Two was "Bye, Bye! Buy Bonds!!" If two Republican U.S. senators have their way, Americans could again be buying war bonds as a way of financing America's response against terrorism in the wake of last week's terrorist attacks against New York City and Washington, D.C. Mitch McConnell (R-Ky.) has introduced legislation that would direct the Treasury Department to establish a category of U.S. Savings Bonds under the designation of "War Bonds." Co-sponsoring the legislation is Sen. Conrad Burns (R-Mont.). "These war bonds will give voice to countless Americans who are looking for opportunities to make a difference in this time of need. By investing in a U.S. War Bond, patriotic citizens will have an opportunity to make a direct contribution to the war against the scourge of terrorism and provide much needed resources for the effort to rescue the injured, rebuild the broken and retaliate against the enemy," said McConnell on Capitol Hill. McConnell thinks war bonds will not only generate revenue but also educate Americans as to the "complicated nature" of the terrorist threat against America. "This national effort will build on one of America's proudest traditions. Dating from the Revolutionary War through World War II, our country has relied upon U.S. War Bonds to respond to the threats posed by our most dangerous enemies," said McConnell. McConnell said he was hoping for a repeat of history with a new, successful issue of bonds. "The World War II effort generated more than $200 billion in revenue from patriotic Americans eager to respond to the call of duty. I have no doubt that today's Americans will respond in kind." Congress last Friday authorized spending $40 billion for the rebuilding efforts and future military campaigns against terrorists. According to a Duke University study on World War II advertising, the first war bond was a "Series E U.S. Savings Bond." It was sold to then-President Franklin D. Roosevelt on May 1, 1941 by Treasury Secretary Henry Morgenthau. On January 3, 1946, the last proceeds from the bond campaign were deposited with the Treasury Department. The War Finance Committee, in charge of the loan drives, sold a total of $185.7 billion of securities. By the end of World War II, over 85 million Americans had invested in war bonds, and the study said that is a number unmatched by any other country. The committee's first duty was to determine whether the government would pay for advertising or seek space contributions from magazines and newspapers. When an estimation of the cost of a nationwide, multi-media campaign for a year reached $4 million, the committee elected to solicit space donations for bond advertisements and the decision proved successful. The study went on to say that the war bond campaign was a "unique fusion of nationalism and consumerism." "The sale of war bonds provided a way in which patriotic attitudes and the spirit of sacrifice could be expressed, and became the primary way those on the home-front contributed to the national defense and the war effort." according to the Duke University study. cnsnews.com\Politics\archive\200109\POL20010918a.html