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In 1941, in an effort to control inflation, the U.S. Treasury began marketing the new Series E bonds U.S. Savings Bonds as “defense bonds”. The government used the hype of the war to market the bonds to the country as a way to raise money for the war, when in fact they were used to remove money from the economy to control inflation. The first one was sold to President Franklin D. Roosevelt on May 1, 1941, by Secretary of the Treasurter the formal entry of the United States into the war in December of that year, these bonds became known as “war bonds”.   These bonds were simply the latest offering of the U.S. Savings Bonds program that had begun in 1935, which replaced U.S. Postal Savings Bonds, and continues to this day. However, the mood of the nation at that time allowed the U.S. government to market Series E bonds as “war bonds”, “war loans”, “victory bonds”, and by other names meant to appeal to a sense of patriotism.

The government appealed to the public through popular culture. The music industry got on board with songs and various campaigns, such as the song and accompanying animated short, Any Bonds Today?   The Music Publishers Protective Association encouraged its members to include patriotic messages on the front of their sheet music like “Buy U.S. Bonds and Stamps”. Various band leaders and celebrities held rallies, where they encouraged the public to help their country by buying war bonds.

Although they were initially marketed as war bonds, Series E bonds continued to be offered by the U.S. government until June 1980, when they were replaced by the Series EE bond.