Liberty Loans, a series of loans by the people of the United States to their government to provide funds for the conduct of World War I and to make possible loans to the Allies. The people loaned the money to the government by purchasing bonds. There were four issues of Liberty bonds and a fifth of Victory bonds (issued after the armistice). A total of more than $21,000,000,000 was raised.
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World War I, also known as the Great War, left Germany and other countries humiliated and angry. Germany viewed the armistice that ended World War I as a truce, rather than a surrender. This view was ignored. Learn about events that led to World War II.