First Liberty Bond Act
The 1st Liberty Loan Act established a $5 billion aggregate limit on the amount of government bonds issued at 30 years at 3.5% interest, redeemable after 15 years. It raised $2 Billion with 5.5 million people purchasing bonds.
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Famous quotes containing the words liberty, bond and/or act:
“The English, besides being “good haters,” are dogged and downright, and have no salvos for their self-love. Their vanity does not heal the wounds made in their pride. The French, on the contrary, are soon reconciled to fate, and so enamoured of their own idea, that nothing can put them out of conceit with it. Whatever their attachment to their country, to liberty or glory, they are not so affected by the loss of these as to make any desperate effort or sacrifice to recover them.”
—William Hazlitt (1778–1830)
“Don’t go on a man’s bond in public, nor guarantee his debts in private.”
—Chinese proverb.
“One need not be a great beau, a seductive catch, to do it effectively. Any man is better than none. To shrink from giving so much happiness at such small expense, to evade the business on the ground that it has hazards—this is the act of a puling and tacky fellow.”
—H.L. (Henry Lewis)