Finance

The war was costly, and most governments were hard pressed to find ways to pay for their war efforts. Most countries issued bonds to help finance the war. In the United States these were called defense savings bonds and war savings bonds, and were redeemed, with interest payments, after the war. Income taxes, sales taxes, and excise taxes were increased, and governments had to borrow heavily. The United States' Lend- Lease program eased the burden of 38 Allied nations by providing billions of dollars' worth of war goods. Germany and Japan helped to pay for their war effort by looting the countries they conquered of industrial machinery, raw materials, and virtually anything else of value.