war savings certificates
COMMONWEALTH OF AUSTRALIA
WAR SAVINGS CERTIFICATES
To help fund the Australian war effort in both world wars the Australian Government had to raise money. Times were naturally tough and the men and women of our small fledgling nation were fighting a determined enemy. They needed the right equipment and arms to do their job. War Savings Certificates, purchased by the mums and dads of Australia, were refunded after wars end.
WORLD WAR ONE
Certificates were introduced by the Australian Government in June 1916. They were designed to be simple, down-to-earth and affordable for ordinary people. A £1 certificate cost 15s 6d to buy and could be redeemed, free of income tax, five years later. They were only available to individual buyers or, with special permission, charities and provident societies, and ownership was limited to a maximum of £500. They could be bought from local war savings associations, the post office or banks.
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From the Burra Record (S.A.)
11 April, 1917 edition
(TROVE website)
War Savings Certificates
To carry on Australia’s share of the War the Commonwealth Government must have money.
Already four War Loans have been successfully floated and the money is being devoted to War purposes only. Continue reading
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WORLD WAR TWO
The certificate above belongs to Merv Doak of Katanning. His mother purchased one for each of her children.
Investing in victory
From the Australian War Museum Archives
Percy Spender was Treasurer in the Menzies Government in early 1940 when he and his department created a plan for raising money to pay for the war effort by encouraging Australians to “invest in victory” by purchasing certificates. The issuing of these certificates enabled the government to borrow money from the Australian people. Continue reading
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War Bonds or Treasury Bonds?
The Australian Difference
By Tony Jones
The statement that started this investigation was a simple one. “We never hear about Australian War Bonds, only War Savings Certificates”. Then followed a listing of… Continue reading
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