University of Virginia Library

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Second War Loan

On Monday, April 12, 1943, the Second War Loan Drive to raise
thirteen billion dollars began. Charlottesville and Albemarle County,
assigned a quota of $1,313,900, again went to work buying
bonds under the leadership of William S. Hildreth, who was assisted
by a committee of the Lions Club in the city and a similar
committee of citizens, under Harry Frazier, Jr., in the county.

Although the campaign began officially on April 12, the sales of
Series E, F, and G bonds between April 1 and May 8 were counted
toward fulfilling the quota. Other U. S. Treasury securities were
on sale between April 12 and May 1. Alex Thompson was chairman
of publicity in this and all subsequent drives. Full page advertisements
in The Daily Progress urging the purchase of bonds
had been sponsored jointly by thirty local business organizations
each week beginning on February 10. With some changes in sponsors,
these continued to appear regularly throughout the war. Local
firms frequently supported the bond drives individually with advertisements
in the newspapers, over the radio, and on billboards.[11]

The drive was a success from the start. By Friday of the first
week $628,450 worth of bonds had been bought, and by the following
Wednesday the quota had been exceeded. Many local business
firms made substantial purchases and contributed materially to
the early success of the drive. The campaign was pushed to the
end of the three-week period. Local sales finally totaled $1,550,873,
of which $1,358,250 worth was sold by the Peoples National
Bank. For this outstanding achievement in individually exceeding the
entire local quota, the bank was given a United States Treasury
Department Citation, which corresponded to the Army-Navy “E”
award for superior industrial production. Lane High School, which
sold $131,000 worth of bonds and stamps, was also given a citation.[12]

A national campaign, announced early in March, was started
to encourage school children to buy bonds and stamps. Any school
which sold stamps and bonds in the amount of $900, the price of
a jeep, was eligible for a certificate signed by the Secretary of the
Treasury, bearing a picture of a jeep in action and the name of the
school. The quota for Virginia was 174 jeeps. By a vigorous selling
campaign, Lane High School accounted for forty-seven jeeps.
Venable School raised funds for three jeeps, and Clark School added
another. In the county Scottsville High School, Greenwood High
School, and Albemarle Training School for Negroes each sold enough
bonds and stamps in this campaign to win a certificate.[13]

Finding itself unable, because of war conditions, to undertake the
usual amount of construction work, the Charlottesville City Council
in May bought $100,000 worth of war bonds. This action was
generally approved, the citizens feeling that the money would be

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An analysis of war bonds sales in Virginia for the fiscal year beginning
July 1,1942, showed that in Charlottesville and Albemarle
County $2,017,263 worth of war bonds and stamps had been
distributed within twelve months. This sum represented per capita
purchases of $44 and was equivalent to 5.4 per cent of the estimated
per capita income. This local record was disappointing when compared
with per capita purchases of $59, which were equivalent to
9.2 per cent of estimated per capita income, for the state as a whole.[15]