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Research Article
Open Access

Turning Citizens into Investors: Promoting Savings with Liberty Bonds During World War I

Eric Hilt, Wendy M. Rahn
RSF: The Russell Sage Foundation Journal of the Social Sciences October 2016, 2 (6) 86-108; DOI: https://doi.org/10.7758/RSF.2016.2.6.05
Eric Hilt
aAssociate professor of economics at Wellesley College and research associate at the National Bureau of Economic Research
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Wendy M. Rahn
bProfessor of political science at the University of Minnesota
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Article Information

vol. 2 no. 6 86-108
DOI 
https://doi.org/10.7758/RSF.2016.2.6.05

Published By 
RSF: The Russell Sage Foundation Journal of the Social Sciences
Print ISSN 
2377-8253
Online ISSN 
2377-8261
History 
  • Published online October 1, 2016.

Copyright & Usage 
Copyright © 2016 by Russell Sage Foundation. All rights reserved. Printed in the United States of America. No part of this publication may be reproduced, stored in a retrieval system, or transmitted in any form or by any means, electronic, mechanical, photocopying, recording, or otherwise, without the prior written permission of the publisher. Reproduction by the United States Government in whole or in part is permitted for any purpose. We would like to thank Price Fishback and Paul Rhode for sharing their data on early taxpayers, and Richard Sutch and two anonymous referees for helpful comments. Christina Ferlauto, Polina Soshnin, Ryan Halen, and Lauren Carr provided research assistance. Direct correspondence to: Eric Hilt at ehilt@wellesley.edu, Department of Economics, Wellesley College, Wellesley MA 02481; and Wendy M. Rahn at rahnx003@umn.edu, University of Minnesota, 1414 Social Sciences Building, 267 19th Ave S., Minneapolis MN 55455. Open Access Policy: RSF: The Russell Sage Foundation Journal of the Social Sciences is an open access journal. This article is published under a Creative Commons Attribution-NonCommercial-NoDerivs 3.0 Unported License.

Author Information

  1. Eric Hilta and
  2. Wendy M. Rahnb
  1. aAssociate professor of economics at Wellesley College and research associate at the National Bureau of Economic Research
  2. bProfessor of political science at the University of Minnesota
  1. Corresponding authors:
    Eric Hilt, (ehilt{at}wellesley.edu); Wendy M. Rahn, (rahnx003{at}umn.edu)
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RSF: The Russell Sage Foundation Journal of the Social Sciences: 2 (6)
RSF: The Russell Sage Foundation Journal of the Social Sciences
Vol. 2, Issue 6
1 Oct 2016
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Turning Citizens into Investors: Promoting Savings with Liberty Bonds During World War I
Eric Hilt, Wendy M. Rahn
RSF: The Russell Sage Foundation Journal of the Social Sciences Oct 2016, 2 (6) 86-108; DOI: 10.7758/RSF.2016.2.6.05

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Turning Citizens into Investors: Promoting Savings with Liberty Bonds During World War I
Eric Hilt, Wendy M. Rahn
RSF: The Russell Sage Foundation Journal of the Social Sciences Oct 2016, 2 (6) 86-108; DOI: 10.7758/RSF.2016.2.6.05
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  • Article
    • Abstract
    • BARRIERS TO SAVING
    • LIBERTY BONDS
    • EMPIRICAL ANALYSIS OF VARIATION IN LIBERTY LOAN PARTICIPATION RATES
    • SERIES E BOND SALES DURING WORLD WAR II
    • CONCLUSION: LESSONS FOR PROGRAMS TO INCREASE SAVINGS
    • Acknowledgments
    • FOOTNOTES
    • REFERENCES
  • Figures & Data
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  • References
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Keywords

  • saving
  • Liberty Bonds
  • savings bonds
  • Wealth inequality
  • civil society
  • financial institutions

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