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by rocket_surgeron
1191 days ago
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Individuals purchasing war bonds helped, but didn't pay for WWII. The war cost a little over $300 billion. $50 billion of that was through individual purchases of War Bonds, the rest came from banks and taxes. Bankers and merchants have always funded the United States. A representation of Robert Morris, the "financier of the American Revolution" is painted in The Apotheosis of Washington, the fresco decorating the ceiling of the rotunda in the Capitol building where he is shown receiving a bag of gold from the god Mercury. Soldiers and supplies were paid for with "morris notes" which was a proto-currency of the US that was backed by Morris' personal fortune. https://allthingsliberty.com/2019/03/how-robert-morriss-magi... Just about 30 years later, banker Stephen Girard almost single-handedly funded the War of 1812. |
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