{"product_id":"original-u-s-wwi-fourth-liberty-loan-poster-liberty-shall-not-perish","title":"Original U.S. WWI Fourth Liberty Loan Poster - Liberty Shall Not Perish","description":"Original Item: Only One Available. “That Liberty Shall Not Perish From The Earth'' was one of many posters issued by the U.S. government during World War I to encourage support of the war. This poster features a picture of the Statue of Liberty in ruin,  the New York skyline in flames with a squadron of German bombers flying overhead and in the distance a collapsed Brooklyn Bridge. A German U-Boat can also be seen in the water heading towards the coastline. The artist’s name, Joseph Pennell can be seen in the left hand corner. This historic poster was originally to have been titled \"Buy Bonds or you will See This,\" but the publisher changed the title. The “new” title that was printed is: \u003cbr data-mce-fragment=\"1\"\u003e\u003cbr data-mce-fragment=\"1\"\u003e\u003cstrong\u003eTHAT LIBERTY SHALL NOT \u003c\/strong\u003e\u003cbr data-mce-fragment=\"1\"\u003e\u003cstrong\u003ePERISH FROM THE EARTH\u003c\/strong\u003e\u003cbr data-mce-fragment=\"1\"\u003e\u003cstrong\u003eBUY LIBERTY BONDS\u003c\/strong\u003e\u003cbr data-mce-fragment=\"1\"\u003e\u003cstrong\u003eFOURTH LIBERTY LOAN\u003c\/strong\u003e\u003cbr data-mce-fragment=\"1\"\u003e \u003cbr data-mce-fragment=\"1\"\u003eIn the bottom right corner, the publisher information can be found, sadly the location is torn off and missing. The publisher information is:\u003cbr data-mce-fragment=\"1\"\u003e \u003cbr data-mce-fragment=\"1\"\u003e\u003cstrong\u003eHeywood, Strasser \u0026amp; Voigt Litho Co. in  New York\u003c\/strong\u003e\u003cbr data-mce-fragment=\"1\"\u003e \u003cbr data-mce-fragment=\"1\"\u003eThe poster appears to have never never been folded, but there is some damage to the bottom right corner and top. A torn section is missing from the corner and some sections of the top, including the right corner, have been torn or are completely missing from the poster. The poster itself has been mounted on a thick poster board to better preserve the document. \u003cbr data-mce-fragment=\"1\"\u003e \u003cbr data-mce-fragment=\"1\"\u003e\u003cstrong\u003ePoster Measurements: 40.5” x 28”\u003c\/strong\u003e \u003cbr data-mce-fragment=\"1\"\u003e \u003cbr data-mce-fragment=\"1\"\u003eThis haunting Liberty Bonds poster is a definite must have in your poster or WWI collection!\u003cbr data-mce-fragment=\"1\"\u003e \u003cbr data-mce-fragment=\"1\"\u003eDuring World War I, the impact of the poster as a means of communication was greater than at any other time during history. The ability of posters to inspire, inform, and persuade combined with vibrant design trends in many of the participating countries to produce thousands of interesting visual works. As a valuable historical research resource, the posters provide multiple points of view for understanding this global conflict. As artistic works, the posters range in style from graphically vibrant works by well-known designers to anonymous broadsides (predominantly text).\u003cbr data-mce-fragment=\"1\"\u003e \u003cbr data-mce-fragment=\"1\"\u003eThe poster was a major tool for broad dissemination of information during the war. Countries on both sides of the conflict distributed posters widely to garner support, urge action, and boost morale. During World War II, a larger quantity of posters were printed, but they were no longer the primary source of information. By that time, posters shared their audience with radio and film.\u003cbr data-mce-fragment=\"1\"\u003e \u003cbr data-mce-fragment=\"1\"\u003eEven with its late entry into the war, the United States produced more posters than any other country. Taken as a whole, the imagery in American posters is more positive than the relatively somber appearance of the German posters.\u003cbr data-mce-fragment=\"1\"\u003e \u003cbr data-mce-fragment=\"1\"\u003eA Liberty bond (or liberty loan) was a war bond that was sold in the United States to support the Allied cause in World War I. Subscribing to the bonds became a symbol of patriotic duty in the United States and introduced the idea of financial securities to many citizens for the first time.\u003cbr data-mce-fragment=\"1\"\u003e \u003cbr data-mce-fragment=\"1\"\u003eThere were four issues of Liberty Bonds:\u003cbr data-mce-fragment=\"1\"\u003e \u003cbr data-mce-fragment=\"1\"\u003e-April 24, 1917: Emergency Loan Act,  authorizes issue of $1.9 billion in bonds at 3.5 percent.\u003cbr data-mce-fragment=\"1\"\u003e-October 1, 1917: Second Liberty Loan, offers $3.8 billion in bonds at 4 percent\u003cbr data-mce-fragment=\"1\"\u003e-April 5, 1918: Third Liberty Loan, offers $4.1 billion in bonds at 4.15 percent.\u003cbr data-mce-fragment=\"1\"\u003e-September 28, 1918: Fourth Liberty Loan, offers $6.9 billion in bonds at 4.25 percent.\u003cbr data-mce-fragment=\"1\"\u003eInterest on up to $30,000 in the bonds was tax exempt only for the First Liberty Bond.\u003cbr data-mce-fragment=\"1\"\u003e \u003cbr data-mce-fragment=\"1\"\u003eThe first three Liberty bonds, and the Victory Loan, were retired during the course of the 1920s. However, because the terms of the bonds allowed them to be traded for the later bonds which had superior terms, most of the debt from the first, second, and third Liberty bonds was rolled into the fourth issue.\u003cbr data-mce-fragment=\"1\"\u003e \u003cbr data-mce-fragment=\"1\"\u003eThe fourth Liberty Bond had the following terms:\u003cbr data-mce-fragment=\"1\"\u003e \u003cbr data-mce-fragment=\"1\"\u003e-Date of Bond: October 24, 1918\u003cbr data-mce-fragment=\"1\"\u003e-Coupon Rate: 4.25%\u003cbr data-mce-fragment=\"1\"\u003e-Callable Starting: October 15, 1933\u003cbr data-mce-fragment=\"1\"\u003e-Maturity Date: October 15, 1938\u003cbr data-mce-fragment=\"1\"\u003e-Amount Originally Tendered: $6 billion\u003cbr data-mce-fragment=\"1\"\u003e-Amount Sold: $7 billion\u003cbr data-mce-fragment=\"1\"\u003e \u003cbr data-mce-fragment=\"1\"\u003eThe terms of the bond included: \"The principal and interest hereof are payable in United States gold coin of the present standard of value.\" This type of \"gold clause\" was common in both public and private contracts of the time, and was intended to guarantee that bond-holders would not be harmed by a devaluation of the currency.\u003cbr data-mce-fragment=\"1\"\u003e \u003cbr data-mce-fragment=\"1\"\u003eHowever, when the US Treasury called the fourth bond on April 15, 1934, it defaulted on this term by refusing to redeem the bond in gold, and neither did it account for the devaluation of the dollar from $20.67 per troy ounce of gold (the 1918 standard of value) to $35 per ounce. The 21 million bond holders therefore lost 139 million troy ounces of gold, or approximately 41% of the bond's principal. This was the equivalent of $2.866 billion (in 1918 dollars) and $250 billion in 2021 dollars.\u003cbr data-mce-fragment=\"1\"\u003e \u003cbr data-mce-fragment=\"1\"\u003eThe legal basis for the refusal of the US Treasury to redeem in gold was the gold clause resolution, dated June 5, 1933. The Supreme Court later held this to be unconstitutional under section 4 of the Fourteenth Amendment:\u003cbr data-mce-fragment=\"1\"\u003e \u003cbr data-mce-fragment=\"1\"\u003e“We conclude that the Joint Resolution of June 5, 1933, insofar as it attempted to override the obligation created by the bond in suit, went beyond the congressional power.”\u003cbr data-mce-fragment=\"1\"\u003e— Chief Justice Charles Evans Hughes, Perry v. United States, 294 U.S. 330, 354 (1935)\u003cbr data-mce-fragment=\"1\"\u003e \u003cbr data-mce-fragment=\"1\"\u003eHowever, due to President Franklin D. Roosevelt's elimination of the open gold market with the signing of Executive Order 6102 on April 5, 1933, the Court ruled that the bond-holders' loss was unquantifiable, and that to repay them in dollars according to the 1918 standard of value would be an \"unjustified enrichment\". The ruling therefore had little practical effect.","brand":"Original Items","offers":[{"title":"Default Title","offer_id":39696653058117,"sku":"ONJR21VD360","price":295.0,"currency_code":"USD","in_stock":false}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/1524\/1342\/products\/ONJR21VD360__01.jpg?v=1640436863","url":"https:\/\/www.ima-usa.com\/products\/original-u-s-wwi-fourth-liberty-loan-poster-liberty-shall-not-perish","provider":"International Military Antiques","version":"1.0","type":"link"}