A Liberty bond was a war bond a that was sold in the United States to support the Allied cause in World War I.Subscribing to the bonds became a symbol of patriotic duty in the United States and introduced the idea of financial securities of to many citizens for the first time. The Act of Congress which authorized the Liberty Bonds is still used today as the authority under which all U.S. Treasury bonds are issued. Interest on up to $30,000 in the bonds was tax exempt for the First Liberty Bond.

The response to the first Liberty Bond was unenthusiastic and although the $2 billion issue reportedly sold out, it had to be done below par because the notes traded consistently below par. One reaction to this was to attack bond traders as "unpatriotic" if they sold below par. The Board of Governors of the New York Stock Exchange conducted an investigation of brokerage firms who sold below par to determine if "pro-German influences" were at work. The board forced one such broker to buy the bonds back at par and make a $100,000 donation to the Red Cross. Various explanations were offered for the weakness of the bonds ranging from German sabotage to the rich not buying the bonds because it would give an appearance of tax dodging (the bonds were exempt from some taxes).

Secretary of the Treasury McAdoo reacted to the sales problems by creating an aggressive campaign to popularize the bonds. Famous artists helped to make posters and movie stars hosted bond rallies. The Boy Scouts and Girl Scouts sold the bonds, using the slogan "Every Scout to Save a Soldier".

28 1/2” x 20 1/2” - framed