Most government officials
wanted to levy payroll taxes to fund the war, but Secretary
Morgenthau sought to preserve the voluntary savings system.
He believed selling war bonds was more democratic, allowing
everyone including children to participate and
get involved. In April 1942, he vowed to increase bond sales
to $1 billion a month by July.
The Treasury Department
reached its goal, launching a massive drive promoted by posters,
parades, store displays, newspapers, magazines, and radio
shows. By the end of World War II, Americans had bought over
$185 billion in bonds.