Spoiled Rotten Investors

Middle-aged Midwestern farmers did their part during WWI by dropping significant chunks of their food off with local U.S. government food officials that transported the food to the Allied Cause in exchange for Liberty bonds. A liberty bond was exactly what you think it is–a low-interest bond that was created by the United States government to facilitate borrowing to fund the war effort.

It was heavily marketed as a patriotic duty, with movie stars like Douglas Fairbanks and Mary Pickford rallying the public to delay gratification and accept as any bonds in lieu of cash as was possible to survive, and Liberty bond posters decked the local churches and government halls.

By the time the Allies had secured armistices from Austria-Hungary and Germany in November 1918, many Nebraska farmers were looking to unload their Liberty bonds. It wasn’t just for the liquidity purpose of getting their hands on cash that … Read the rest of this article!