Made during WWII, “The Price of Freedom” was produced by the United States Treasury Department to promote the sale of War Bonds. The film charts some of the United States Saving Bond and Stamp programs, and shows how they were promoted within industry and civilian populations. The film includes pleas from African American workers, female “Rosie the Riveters”, and others.

At the 5 minute mark, the film shows the International Harvester Corporation and shows how it implemented a Payroll Savings Plan to formalize the selling of bonds. By making a commitment to a regular contribution to the effort, the bond program flourished.

The International Harvester Company (abbreviated first IHC and later IH) was a U.S. manufacturer of agricultural machinery, construction equipment, trucks, and household and commercial products. In 1902, J.P. Morgan merged the McCormick Harvesting Machine Company and Deering Harvester Company, along with three smaller agricultural equipment firms, to form International Harvester. In 1985, International Harvester sold off most of its agricultural division to Tenneco, Inc., who merged it into its subsidiary J.I. Case under the Case IH brand. Following the terms of IH’s agreement with Tenneco, International Harvester renamed itself Navistar International Corporation in 1986.

International Harvester produced 13,622 M4 Half Tracks at its Springfield facility from October 1942 through January 1944. It also built: (1,123) M-1-4 1/2 Ton 4×4 Utility Trucks, (10,450) M-2-4 One Ton 4×4 Trucks, (unknown small amount) M-3-6 1&1/2 Ton 4×4 Trucks, (36,320 approximate) M-5-6 2&1/2 Ton 6×6 Cargo Trucks, (4,460) H542-9 M425/ H542-11 M426 Five Ton 4×2 tractors, (5,290) M5 13 Ton High Speed Tractors (Artillery Prime Movers)

Most of the trucks built by International were used by the Navy or Marine Corps or became part of the Lend-Lease program.

During World War II International was the 33rd in dollar value of production contracts.

War bonds are debt securities issued by a government to finance military operations and other expenditure in times of war. The bonds also remove money from circulation and thus help to control inflation. In practice, a government in desperate need of finances may also put additional money into circulation. War bonds are either retail bonds marketed direct to the public or wholesale bonds traded on a stock market. Exhortations to buy war bonds are often accompanied by appeals to patriotism and conscience. Retail war bonds, like other retail bonds, tend to have a yield which is below that offered by the market and are often made available in a wide range of denominations to make them affordable for all citizens.

War savings stamps were issued by the United States Treasury Department to help fund participation in World War I and World War II. Although these stamps were distinct from the postal savings stamps issued by the United States Post Office Department, the Post Office nevertheless played a major role in promoting and distributing war savings stamps. In contrast to Liberty Bonds, which were purchased primarily by financial institutions, war savings stamps were principally aimed at common citizens. During World War I, 25-cent Thrift stamps were offered to allow individuals to accumulate enough over time to purchase the standard 5-dollar War Savings Certificate stamp. When the Treasury began issuing war savings stamps during World War II, the lowest denomination was a 10-cent stamp, enabling ordinary citizens to purchase them. In many cases, collections of war savings stamps could be redeemed for Treasury Certificates or War Bonds.

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This film is part of the Periscope Film LLC archive, one of the largest historic military, transportation, and aviation stock footage collections in the USA. Entirely film backed, this material is available for licensing in 24p HD and 2k. For more information visit http://www.PeriscopeFilm.com