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WWI Bond Drive Flag, With Prussian Blue Eagle, ca 1919
About the Item
WWI BOND DRIVE FLAG WITH A WHIMSICAL & ARTISTICALLY COMPELLING EAGLE, PERCHED DIRECTLY ON THE LOWER EDGE OF THE TEXTILE (HIGHLY UNUSUAL), WITH WINGS UPSTRETCHED IN A “V” FOR “VICTORY” TO CRADLE THE WORDS “VICTORY CHEST 100%;” PRUSSIAN BLUE ON A WHITE GROUND; LIKELY MADE FOR THE 5TH BOND SUBSCRIPTION, ISSUED MAY 20TH, 1919
U.S. involvement in WWI cost the federal government more than $30 billion. This occurred at a time when total annual federal expenditures were less than $1 billion ($970 million in 1913, for ex., prior to wartime build-up). Due to such disparity, the importance of war drives in the First and Second World Wars cannot be understated. Because federally issued war bonds not only raised cash for the war, but simultaneously removed it from the economy, it had a second positive effect by helping to keep inflation at bay during a war-time, economic boom.
In all, there were four bond drives initiated during WWI itself, called “Liberty Loans,” plus a fifth “Victory Loan” drive announced after the armistice was signed on November 11th, 1918. The bonds offered subscriptions as follows*:
First Liberty Loan - $2 Billion, issued Apr. 24th, 1917 (issued on Flag Day, June 14th)
Second Liberty Loan - $3 Billion, Oct. 1st, 1917 (issued Nov. 15th)
Third Liberty Loan - $3 Billion, Apr. 5th, 1918 (issued May 9th)
Forth Liberty Loan - $6 Billion, Sept. 28th, 1918 (issued October 24th)
Fifth “Victory” Loan - $4.5 Billion, April 21st, 1919 (issued May 20th)
Though the last was called a “Victory Loan” instead of a “Liberty Loan,” all were often referred to as “Victory Loans” in American propaganda. President Woodrow Wilson appointed muckraking journalist George Creel to develop a campaign to induce bonds subscription. Posters produced as a result illustrated Germans burning homes and destroying cities. Slogans ranged from "Buy Bonds Till It Hurts" to "Come Across or the Kaiser Will." Non-subscribers were labeled “slackers,” with the suggestion that such individuals be ridiculed and “picked up by the ‘slacker wagon.’” The tactic worked and bond subscriptions were represented by about 1 in 6 households. Reports that a huge proportion of the money came from low income households, those who made less than $2,000 year, are distorted by the fact that the lowest denominations received priority and were issued first, to increase the number of involved households. J.D. Rockefeller, for example, put in for $15 million in the First Liberty Loan, but was awarded just $3 million.
This highly unusual flag, printed on cotton or a wool and cotton blended fabric and bound on all sides with machine stitching, was almost certainly made for the fifth campaign. The imagery consists of a whimsical and artistically compelling eagle, with wings stretched skyward in a “V” for “Victory,” cradling the words: “Victory Chest 100%.” This verbiage is probably celebratory, signifying that the $4.5 billion subscription was fulfilled. Note the beautiful, Prussian or cornflower blue coloration. A poster used to track the volume of subscriptions, with a thermometer in the center and the slogan “Turn up the Heat!” illustrates a yellow eagle with a similarly stylized design.
This is the only example of this flag I have ever encountered, and I know of nothing identical in posters, fliers, or other wartime material.
Mounting: The flag was mounted and framed within our own conservation department, which is led by master’s degree trained staff. We take great care in the mounting and preservation of flags and have framed thousands of examples; more than anyone worldwide.
The background is 100% cotton twill, black in color, that was washed and treated for colorfastness. The black-painted molding, with its wide, serpentine profile, is Italian. The glazing is U.V. protective acrylic (Plexiglas). Feel free to contact us for more details.
Condition: There are no significant condition issues.
- Dimensions:Height: 39.75 in (100.97 cm)Width: 515 in (1,308.1 cm)Depth: 2.5 in (6.35 cm)
- Materials and Techniques:
- Place of Origin:
- Period:1910-1919
- Date of Manufacture:1919
- Condition:See Item Description.
- Seller Location:York County, PA
- Reference Number:Seller: ofj-10121stDibs: LU849743098482
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