Re: [sixties-l] Carrol Cox - War Bonds

From: Jane Lekus (
Date: 11/02/00

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    Thanks, Carrol, for explaining the difference between Liberty Bonds and War Bonds. War Bonds  actually became the Series E bonds of my childhood. Almost no Bar Mitzvah, Confirmation or Sweet Sixteen was complete without an  "eighteen-seventy five bond" as my grandmother called them. In 1965, when I became a NYC teacher, I was asked to sign up for the "payroll savings plan" on my first day, which I did. I accumulated a few bonds until two years later  - when I decided I didn't like what my government was doing with my $10.00 per week. I cashed them all in. But you should all know that the Series E Bonds sold between May 1941 and Nov. 1965 stopped earning interest after 40 years, and those sold from Dec. 1965 to June 1980 stop after 30 years. So I suggest you all take a look for those old bonds you or your family members may still have put away, since they may not be gaining in value anymore.(Those held beyond maturity actually paid more than face value). Series H Bonds, and the later issues of EE and HH may also have ceased paying interest. 
    By the way, unless you cashed in bonds during their first 6 months, you didn't lose interest, you just didn't get the face value at maturity. The bonds being sold now have varying maturity dates, which is how the Treasury adjusts the interest being paid.
    In the early sixties, I remember TV ads and other advertisments for the Payroll Savings Plan, but none for at least thirty years.  I wonder if their sales  fell off with the increase in protest against Vietnam. 

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