Hollywood helped fund American military activity by boosting bond sales

Rockwell's 'Four Freedoms' raised millions for the US war effort

Rockwell initially pitched the "Four Freedoms" project to the US Ordnance Department, but was rejected. Rockwell's editor at the Saturday Evening Post, however, loved the idea and published the images across four consecutive issues. After they became a sensation, the Saturday Evening Post partnered with the US Department of the Treasury to send the paintings on a 16-date national tour, which raised $133M in war bonds and stamps. Meanwhile, the Office of War Information printed four million sets of the posters with "Buy War Bonds" emblazoned on them.

A boom hit after WWI, with consumerism usurping frugality as an American value

When American soldiers returned home after WWI in the 1920s, they found a country ready to spend money, make a home, and indulge in creature comforts after wartime rationing. This uptick in US wealth and production led to job opportunities for advertising experts.

Disney chipped away at its debt by creating propaganda during World War II

Disney began producing training videos for the Navy and propaganda films for US involvement in World War II, including the shorts "Der Fuehrer's Face," "The Spirit of '43," and "Donald Gets Drafted." The effort provided a much-needed cash injection, allowing Disney to continue producing films.

Comic books were a major part of American propaganda efforts during WWII

See how US comic books, alongside international counterparts, served as powerful wartime propaganda tools from 1941 to 1945—boosting morale, promoting war bonds, and demonizing Axis powers through the use of iconic heroes and patriotic messaging.

The bond market dates back to the 1100s in Venice

In the early 1800s, bonds were used to fund US railroads and canals in Great Britain. “Liberty Bonds” were sold during both World Wars in the 20th century. Learning about the early and modern history of bonds can offer a glimpse into how the modern bond market came to be.

2 months after Pearl Harbor, American libraries launched a drive to collect 10 million books for soldiers

The 1942 Victory Book Campaign—sponsored by the American Library Association, the Red Cross, and the USO—asked the public to donate books to both train and entertain troops. The national campaign exceeded its goal, collecting more than 10.2 million books.

The US has carried debt since 1791

After the Revolutionary War, the US owed $75M to nations like France. Debt builds when spending exceeds revenue, funding programs, wars, and economic recovery efforts. Most debt is domestic, like Social Security bonds, with foreign nations also holding a share.

Hollywood's efficient response to the Spanish flu made it a filmmaking destination

In 1918, the Great Influenza epidemic killed more than 675,000 Americans. Los Angeles was one of the first cities to shut down movie theaters, most of which were independently owned and couldn’t afford the revenue loss. The results were twofold: the quick response meant that Hollywood could bounce back faster than other film hubs, and it also contributed to the rise of vertical integration as studios stepped in to purchase the flailing theaters.

How the US government used photography to fight poverty

In the 1930s, the US was in crisis, and the government turned to photography to win public support. Images of rural poverty stirred empathy, shifting public opinion and helping pave the way for New Deal reforms.

How World War II affects your wallet today

The world's deadliest conflict also impacted social programs extensively, including ways that still affect your money today. World War II is responsible for the practice of employers withholding tax payments and sponsoring health insurance, as well as the norm of providing school lunches for the nation's schoolchildren. Watch this brief video to learn more.

How the US entered WWI in 1917

Originally taking a position of neutrality during the course of World War I, the United States of America eventually relented. Entering the war in 1917, support for the British and French had risen and Americans were incensed by Germany's overtures to Mexico and U-boat attacks that sank ships and ended American lives. See how and why the US entered WWI in this article.

Cold War soft power helped sell the space race to the American public

The fear of Soviet dominance prompted the US to invest heavily in space, but public support was also crucial. This video shows how marketing, media, and "soft power" framed spaceflight as peaceful, aspirational, and worth the cost—helping sustain the space race at home.

The 1956 Federal-Aid Highway Act spent $25B to build 41,000 miles of freeway

Sold to Congress as a national defense measure, the Interstate Highway Act committed the federal government to covering 90 cents of every dollar spent on a 41,000-mile freeway network, a subsidy that reshaped American cities and supercharged car dependency.

Bills passed during the Civil War shaped postwar America

Despite the war with the South, Congress passed transformative laws like the Homestead Act and the Morrill Land-Grant College Act, which encouraged westward settlement and expanded higher education.

Women's role in society expanded during the war

With millions of men at war, women managed farms and businesses, served as nurses, and organized aid efforts—broadening women's participation in public life and laying the groundwork for future suffrage movements.

Gambling funded America's early expansion

In the colonial era, lotteries were viewed as a voluntary tax to help fund infrastructure and capital projects. The idea came from Europe, which had used lotteries dating back to the 16th century. The image below is from a Massachusetts lottery in 1758.

Roughly 43 million US borrowers owe roughly $1.7T in student debt, the second-largest source of consumer debt behind mortgages.

What are baby bonds?

In 2008, Hillary Clinton proposed giving every US newborn a $5,000 government-funded trust, often called a “baby bond,” to help low-income families build long-term wealth. Supporters said it could reduce wealth inequality, while critics argued existing programs like the Child Tax Credit offered similar benefits.

Governments have historically used counterfeiting for economic warfare

Inserting fake currency into an economy can help destabilize it. During the American Revolution, for instance, the British distributed counterfeit “Continental Dollars” in an effort to devalue the currency being used in the US at the time with the goal of undermining America’s growing financial credibility. The Nazis also ran an extensive counterfeiting scheme during WWII.

Military bases were once targets for payday loans and other predatory lending

The Military Lending Act of 2006—a federal law—capped the interest a lender can charge an active-duty soldier at 36% after the Department of Defense criticized payday lenders for targeting young soldiers with high-interest, short-term loans. However, many towns near military bases still have predatory businesses that critics say take advantage of army families living paycheck to paycheck. (Some readers may experience a paywall.)

The Smoot-Hawley Tariff Act is among the most famous pieces of economic legislation in the US

In a desperate move to save the economy from the deepening global depression, the US placed tariffs on thousands of goods from abroad. This approach backfired, as many of America’s trade partners took retaliatory measures.

The 16th Amendment paved the way for capital gains taxes

Ratified in 1913, the 16th Amendment paved the way for a far-reaching federal income tax and supercharged the country’s coffers. Before then, the US depended on import tariffs and so-called consumption taxes to raise revenue.

Charlie Chaplin's 'Modern Times' blended slapstick and satire

The 1936 film thrust Chaplin's iconic Little Tramp character into the Industrial Revolution, satirizing how mass production was dehumanizing individuals. The movie was not only a hit, but it was also the product of a burgeoning Hollywood: Chaplin had founded his own company (United Artists) in 1919.

A formal declaration of war automatically triggers hundreds of statutes granting the president sweeping domestic authority

Beyond authorizing military force abroad, a formal declaration activates a wide range of domestic powers, including authority over enemy property, trade restrictions, and emergency economic authority. It also waives the 60-day time limits under the War Powers Resolution.

The GI Bill helped expand formal jazz education

Berklee School of Music (then known as the Schillinger House) and a program at the University of North Texas (then known as Texas State University) established academia's earliest jazz programs in 1945. The GI Bill provided World War II veterans with educational funding, which helped the programs proliferate: By the end of the 1960s, there were 450 college jazz ensembles.

The Manhattan Project was one of the most expensive undertakings of World War II

Building the first atomic weapons required hundreds of thousands of workers, vast secret facilities, and enormous spending. This 1998 study details the full cost of the Manhattan Project and compares it to other major US wartime expenditures.

The US dollar is the most widely circulated currency in the world, and is involved in nearly 90% of global transactions

At the beginning of the 20th century, a group of young men ate standard American food—replete with food additives like borax and formaldehyde—as part of government research to better understand food safety.

Experimental hantavirus vaccines and therapies, still under development, have long been funded by the US military.

Walt Disney's early film 'Alice's Wonderland' was a groundbreaking innovation in the silent film era

The most expensive ad of all time was for Chanel No. 5 perfume and cost roughly $33M to produce in 2004—about $57M in today's dollars.

The distributor behind 'Rocky Horror' pulled the film from its scheduled national release, believing it would be a failure, though it eventually amassed a dedicated fanbase through midnight showings, a trend that continues over 50 years later.

The idea for the Federal Reserve was conceived in secret in 1910—with bankers donning duck hunt gear for disguise while traveling to a remote country club on Georgia's Jekyll Island

See the most iconic photos from four decades of LIFE magazine

The power and influence of the American presidency have expanded significantly over time—far beyond what the founders envisioned.

Hedge funds, the private investment firms that trade a wide swath of financial assets, make money by imposing steep fees on investors and from the fund's investment performance.

Explore an interactive map of battles from the American Revolution, along with detailed summaries of each engagement

Jimmy Carter signed a 1978 bill that legalized home brewing, a move credited with kick-starting the craft beer industry.

An initial public offering or 'IPO' is the process of a private company becoming public by putting shares of the company on the stock market for purchase.

The Beatles' US label rejected the band's first two singles, 'Please Please Me' and 'From Me to You,' with one executive calling the band 'dead in the water.'

Up to a million Girl Scouts sell about 200 million cookie boxes every spring, generating $800 million, largely because refusing a child is frowned upon

Mark Twain spent decades feuding with the US Postal Service, convinced its costs and regulations were bureaucratic overreach.

Fireworks make a loud booming sound after exploding due to air expanding faster than the speed of sound.

Power lines are dotted with large, brightly colored balls to improve the visibility of these thin wires to helicopters and small planes and help prevent potential crashes.

The American Society of Civil Engineers' infrastructure report card gave the US a C in 2025, its highest grade since the project launched in 1998.

In 1939, baseball star Lou Gehrig delivered his inspirational 'Luckiest Man' speech after retiring due to the health condition that now bears his name.

Frank Lloyd Wright's houses are historically hard to sell because they're old, subject to local landmark commissions, and often unfashionable

Dozens of S&P 500 stocks, including Coca-Cola and Walmart—known as the dividend aristocrats—have increased dividends every year for 25 years

Double world record holder Hunter Ewen helped conquer his fear of balloons, called globophobia, by training to win Guinness World Record titles for balloon inflation.

The story of Dollree Mapp, whose legal challenge over her 1957 conviction for possessing "obscene material" led to a major strengthening of the Fourth Amendment