View of the banner announcing the beginning of the War Savings parade in Vernon nearly 80 years ago on May 10, 1941. There were nine such campaigns across Canada during the Second World War to raise funds for the war effort, and together they raised roughly $12 billion. (Greater Vernon Museum and Archives photo 16510)

View of the banner announcing the beginning of the War Savings parade in Vernon nearly 80 years ago on May 10, 1941. There were nine such campaigns across Canada during the Second World War to raise funds for the war effort, and together they raised roughly $12 billion. (Greater Vernon Museum and Archives photo 16510)

Vernon History in Pictures

A look at a parade to spark the war effort 80 years ago

Canadians did their part in both World Wars.

The accompanying picture shows a Victory Loans parade in May of 1941, 80 years ago. According to thecanadianencyclopedia.ca, Victory Loans were the Canadian government’s appeals for money to finance the war efforts in both conflicts.

The first domestic war loan was raised in November 1915, but not until the fourth campaign of November 1917 was the term “Victory Loan” applied. The First Victory Loan, with an issue of $150 million, 5.5% 5, 10 and 20-year gold bonds (some as small as $50) was quickly oversubscribed, collecting $398 million, or about $50 per capita.

The Second and Third Victory Loans were floated in 1918 and 1919, bringing another $1.34 billion.

In the Second World War, following the slow-moving second war loan of 1940, the Victory Loan returned with the panoply of colourful posters, patriotic pleas and vast sales apparatus which had become familiar in the First World War.

There were nine Victory Loans dating from June 15, 1941 to Nov. 1, 1945, having total cash sales of almost $12 billion, about 52% from corporations and the rest from individuals.

READ MORE: Vernon’s History in Pictures



roger@vernonmorningstar.com

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