Near War’s End: May 15, 1945
Hitler was dead, and Mussolini, too, their forces defeated. The U.S. had celebrated victory in Europe a week earlier. But one Axis power stubbornly fought on: Japan.
To keep the effort going, America turned to a frequently used weapon: war bonds. In keeping with the patriotic spirit of the times, FORBES provided prime real estate to support the bond drive, turning its cover into a full-page unpaid advertisement for the 7th War Loan, complete with a glory shot of the Iwo Jima flag-raising. It wasn’t the first time FORBES gave up its cover in this way: At least three others from the 1940s featured ads for war bonds.
For patriotic investors, $18.75 got them a $25 bond with Uncle Sam’s promise to pay the difference ten years later. (In today’s terms, that’s $250 for $330 down the road.) In all, America would borrow $156 billion (roughly $2.1 trillion now) through war bonds.