User:Mary Tarantine/sandbox

On February 1, 1935, President Franklin D. Roosevelt signed legislation that allowed the U.S Department of the Treasury to sell a new type of security, and thus the savings bond was born. One month later the first Series A Savings Bond proceeded to be issued with a face value of $25. At first, it's main purpose was help finance World War II, these were referred to as Defensive Bonds. On April 30th, 1941 Roosevelt purchased the first bond from Treasury Secretary Henry Morgenthau. The next day, they were made available for the public. After the attack on Pearl Harbor, the Defensive Bonds were informally known as the War Savings Bonds, citizens could buy the bonds for a dime. All the revenue coming in from the bonds, went directly to support the war. Even after the war ended, the Savings Bonds became popular with families. Unlike before, people started to just wait to cash them so the bonds would grow in value. To help sustain the post-war sales, they were advirtised on televison progams, films, and commercials. Even when John F. Kennedy was president, he encouraged Americans to purchase them and that stimulated a large enrollment in Savings Bonds. By 1976, President Ford helped celebrate the 35th anniversary of the U.S. Savings Bond Program. The film, "An American Partnership" honored the role of citizens in financing the nation's growth. In 1990, Congress created the Education Savings Bond program which helped Americans finance a college education. If the bond is purchased on or after January 1, 1990, it is tax-free if used to pay tuition and fees at a eligible institution.