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The Home Front - Canada Victory Bonds
​ How Canada Paid for World War II

The cost to Canada for its involvement in World War II was $21.8 billion. One-half of this cost was covered by the sale of War Savings Certificates and Victory War Bonds.

The certificates were first sold door-to-door by volunteers as well as at banks, post offices and other dealers. They matured after seven years and yielded $5 for every $4 invested. Buyers were restricted to owning no more than $600 worth of certificates. This program yielded $318 million in funds (loans) to the government for the war effort.

The sale of Victory Bonds provided much more capital for the war effort. With 11 Victory Bond drives, $12.5 billion was raised. Maturity of the bonds varied from six to 14 years with interest rates set at 1.5% and 3%. Victory bonds were available in denominations between $50 and $100,000. Sales equalled $550 per Canadian citizen although businesses actually purchased one half of the total. The first two bond drives met their sales targets within 48 hours of being issued.

A great deal of organization went into running this program including formalizing organization of the program under direction of the Governor of the Bank of Canada to development of a marketing (propaganda) program to recruiting volunteers. Posters in addition to direct mailings and movie, magazine and newspaper ads were used to spread the word – samples are attached.

The following articles were included in the Fingal Observer – November 1943, station magazine of No. 4 Bombing & Gunnery School, Fingal Ontario.

What Have These Blondes Got That We Haven’t?
A date with the blonde that adorns Fingal’s bond posters sounds all right—but definitely. But move your eyes a trifle left. It’s Cpl. Margaret Kennedy, of accounts, a little brunette who’ll give any blonde a nice run for any airman’s heart. There’s really no story behind this photo—in fact, we’re struck for what to say. But it does make a picture, and if it helps to sell you a bond—well our purpose is accomplished.

Fifth Victory Loan Sales Go Over the Mark With a Bang
Fingal’s Victory bond quota of $50,000 has been subscribed in full. At press time, sales were over the $60,000 mark and going strong as purchases by service and civilian personnel continued to mount daily.

An energetic committee, headed by S/L J. Poupure and a group of live-wire captains and canvassers are responsible for the success of the campaign. Committee members include:…

The campaign was enlivened by several incidents, notably the ``Case of the Missing Blondes,’’ Three posters entitled ``You’ve Got a Date With a 

Illustrations from the 
Fingal Observer - November 1943
blonde’’ disappeared from outside the drill hall the morning after they were tacked up. Rumors flew thick and fast. it had been censored. The campaign was off. And so on. But the truth was that some playful airman, perhaps on his way home from the canteen, had ripped `em off. It all reacted to the good of the campaign since it was the topic of conversation for a few hours at least—until new blondes were put up.

All the smart hand-painted posters around camp were done by LAC Harry Switzer of workshops. Brownie of M.T. handled the sound truck which toured the station, playing ``Colonel Bogey’s March’’ and giving short bond pep-talks.

One of F/O White’s prospects, an N.C.O. pilot in bombing flight, handed him $500 in hard cash for a bond and he couldn’t take it! Cash sales are not allowed, except by cheque. So our pilot friend had to open a bank account in St. Thomas and promptly issue a cheque against it.

Believe it or not, one canvasser didn’t want to sell an AC2 a bond, when he found it would leave him with $7 per pay day. But Mr. AC2 insisted so hard that he was signed up. 

A doubtful F/O in the hangar area didn’t know whether he’d buy or not…. or just what he’d do. The Canvasser was beginning to have trouble with him until an F/L stepped up and said he’d double anything the F/O bought. The F/O took $350 worth…

Word comes from overseas that members of the RCAF Moose Squadron are helping buy the bombs they drop on Germany. At the close of the first day in the squadron’s loan campaign, the airmen subscribed $25,150 of the $30,000 objective.

Quota Is More Than Half Subscribed on First Day

OCTOBER 18 was doubleheader day at Fingal, with a wings parade and the opening of the bond drive. When Class 63 WAGs (Wireless Air Gunners) stepped up for their wings, they had bond receipts in their pockets almost to a man. Twenty graduates took $1,200 worth of bonds on their last day here. And the station as a whole took $37,450 worth - over half the quota of $50,000-on the first day.

``Altogether, a very good show,’’ said S/ L Poupore, chairman, who paid tribute to the energetic captains and canvassers.

Even the Nazi Leaders Are Buying War Bonds, Believe It or Not!
We sure met a dumb cluck the other night. He thought that when he bought a war bond he was contributing something to the cause. Like a donation to the Red Cross, He thought he was "giving" instead of receiving. We said right out loud: "look at this dumb bastard; he thinks he is GIViNG something, instead of making a swell investment."

And much to our surprise, most of the group to whom we addressed these well-chosen remarks had the same idea. They thought they were making a terrific sacrifice by buying bonds.

"Well," we said, "if you were going to invest some loose change in General 

Motors or some such stock, would you consider vou were making any sacrifice?" They all agreed that they would not. "OK, then," we went on, "how long would General Motors be worth a nickel if this country went smash?" They all agreed that their investment wouldn't be worth a dime.

"All right, again," we said, "there is no thing more solid and substantial than the Canadian government. When it falls, everything falls. But it ain't going to fall. So when you buy bonds all you are doing is investing your money in the safest and best investment in the world today.\

"When even the Nazi leaders are buying war bonds because they know that their money will be safe."