War Finance Committee

(noun)

A federal agency in charge of supervising the sale of all war bonds during World War II.

Related Terms

Examples of War Finance Committee in the following topics:

  • Financing the War

    • Of principal concern were issues surrounding war financing.
    • Bonds became the main source of war financing, covering what economic historians estimate to be between 50% and 60% of war costs.
    • The War Finance Committee was placed in charge of supervising the sale of all bonds, and the War Advertising Council promoted voluntary compliance with bond buying.
    • The Treasury sold $185.7 billion of securities (over $2.1 trillion in 2016) to finance the war.
    • Explain how "defense bonds" worked to finance the war in the United States.

  • War Propaganda

    • War propaganda campaigns by the Creel Committee and Hollywood influenced American views on World War I.
    • Hoping to influence public opinion favorably toward American participation in World War I, President Woodrow Wilson established the Committee on Public Information (CPI) through Executive Order 2594 on April 13, 1917.
    • The committee also used direct human media in the form of about 75,000 "Four Minute Men," volunteers who delivered positive public messages about the war.
    • The Creel Committee used all forms of media, such as this poster, to spread the US message during World War I.
    • Describe how the Committee on Public Information used propaganda to influence American public opinion toward supporting U.S. participation in the war

  • Conclusion: The Fight for Independence

    • By June 1776, the Second Continental Congress had appointed a “Committee of Five”, consisting of John Adams of Massachusetts, Benjamin Franklin of Pennsylvania, Thomas Jefferson of Virginia, Robert R.
    • The Committee of Five drafted the text of the Declaration of Independence, which was presented to Congress on June 28, 1776.
    • Due to the lack of funds for the war effort, much of the financial burden of financing military operations was passed on to the states.
    • In response, Britain declared war on France on March 17, 1778.
    • Summarize the general arc of the war and the reasons for colonial victory.

  • "Americanizing" the Vietnam War

    • Johnson dramatically increased U.S. presence in Vietnam in the late 1960s, an act referred to as the "Americanization" of the war.
    • The U.S. also financed and supplied the forces of all the American allies in the Vietnam War including Australia, New Zealand, Thailand, the Phillipines, and the Republic of Korea (second only to the Americans in troop strength).
    • On February 14, 1965, the National Leadership Committee installed Air Vice-Marshal Nguyen Cao Ky as prime minister.
    • Thieu and Ky were elected and remained in office for the duration of the war.
    • The American generals decisions in this period would influence American strategy and tactics for the duration of the war.

  • Union Finances

    • Chase showed remarkable ingenuity in financing the war without crippling the economy.
    • An additional means of financing the war was printing money, a strategy also employed in the Confederacy.
    • The Legal Tender Act of 1862 was enacted in February 1862 to issue paper money to finance the war.
    • The Union printed paper money, which was used in lieu of gold and silver, to finance the war.
    • Describe how the Union financed the war through taxes, printing money, the sale of government bonds, and the creation of a national banking system

  • War Debts and Reparations

    • World War I reparations were compensation imposed during the Paris Peace Conference upon the Central Powers following their defeat in World War I by the Allied and Associate Powers.
    • Article 231 of the 1919 Treaty of Versailles (knows as the "War Guilt Clause") declared Germany responsible for all "loss and damage" experienced by the Allied and Associated powers during World War I.
    • In response to the crisis, the Dawes Committee, chaired by Charles G.
    • However, the plan was a temporary measure and in 1929,  a new committee was formed to re-examine reparations.
    • In addition, foreign oversight of German finances was to end with the withdrawal of the Reparations Agency, which would be replaced by the Bank for International Settlements.

  • Americanization and Pluralism

    • The outbreak of war in 1914 led to the "Americanization" campaign aimed at millions of immigrants to the U.S.
    • The outbreak of war in 1914 increased concern over the millions of immigrants to the United States, many of whom could not return to their native countries in Europe.
    • The privately operated Committee for Immigrants in America helped fund the Division of Immigrant Education within the Bureau of Education.
    • Immigrants became a concern for the U.S. during the war and led to Americanization campaigns throughout the country.
    • Describe the rationale behind the "Americanization" of immigrants by the National Americanization Committee and the Committee for Immigrants in America.

  • The Election of 1924

    • Coolidge, the former governor of Massachusetts, was given credit for a prosperous economy at home and no visible crises abroad, which was especially important in the decade following the carnage of World War I.
    • Large standing armies and the cost of preparing for war still cast their burdens upon humanity.
    • The Republican Party National Convention in Cleveland, Ohio, ran from June 10 to June 12 and made history by being the first GOP convention to provide equal representation to women, with a rule change that provided each state with a national committee-man and national committee-woman.
    • The platform stated in part that the reduction of taxes by $1.25 billion per year, reduction of public debt by $2.4 billion, reduction of public expenditures from $5.5 billion to a pre-war figure of $3.4 billion, “all during the short period of three years – presents a record unsurpassed in the history of public finance.”
    • La Follette’s 17% vote total was the third highest for a third-party candidate since the Civil War and has only been surpassed by Theodore Roosevelt’s 27% in 1912 and Ross Perot’s 19% total in 1992.

  • Commitment to Vietnam

    • Johnson, committed to preventing the expansion of communism, increased U.S. involvement in the war in Vietnam.
    • In effect, Johnson escalated the war, following the controversial Gulf of Tonkin incident.
    • The U.S. also financed and supplied the forces of all the American allies in the Vietnam War including Australia, New Zealand, Thailand, the Phillipines, and the Republic of Korea (second only to the Americans in troop strength).
    • On February 14, 1965, the National Leadership Committee installed Air Vice-Marshal Nguyen Cao Ky as prime minister.
    • Thieu and Ky were elected and remained in office for the duration of the war.

  • Economic Impacts of the Revolution

    • Congress and the individual colonies encountered difficulties financing the Revolutionary War.
    • Congress and the individual American colonies encountered difficulties when financing the Revolutionary War.
    • As a result, the Continental government had to devise a number of means for financing the war.
    • Soldiers, for example, were already being paid in arrears due to the difficulty Congress was having financing the war, and their wages were rapidly declining in value every month.
    • Morris used a French loan in 1782 to set up the private Bank of North America to finance the cost of the war.