14 MAR--This Day in US Military History

MSG Private RallyPoint Member — Sat, 14 Mar 2015 12:23:41 -0400

1812 – The US issues the first War Bonds.

By the end of 1811, the United States government had tired of seeing the nation’s merchant ships suffer at the hands of the British and French. Having already tried to retaliate through fiscal measures, namely an embargo that only served to hurt U.S. businesses, the government was on the verge of committing its military to what would be later known as the War of 1812. However, scrounging up resources for the war proved to be an issue, leading U.S. President James Madison to call on Congress to provide for means for bolstering the nation’s defenses.
On March 14, 1812, legislators heeded Madison’s plea and approved the issue of the very first war bond, worth some eleven million dollars. Over the next three years of the war, Congress would authorize six more war bonds, and also hike tariffs on imports, all in the name of another battle against Great Britain.

https://thisdayinusmilhist.wordpress.com/2014/03/14/march-14/

March 14

14 March1629 - A Royal charter was granted to the Massachusetts Bay Colony.1644 - England granted a patent for Providence Plantations (Rhode Island).1743 - The first recorded town meeting in Americ...

Response by LTC Stephen F. made Jun 10 at 2015 5:07 PM

LTC Stephen F. — Wed, 10 Jun 2015 17:07:27 -0400

MSG Private RallyPoint Member, thanks for posting this. I was not aware that Defense or War Bonds were issued in support of the War of 1812. I was more familiar with the War Bonds which supported WWI and WWII.