War Loan Bonds conversion, 1932. In an attempt to reduce the National Debt the British government campaigned for the conversion of 5% War Loan Bonds to new 3 1/2% Bonds. Over 75% of bondholders applied for conversion and only 6 1/2% exercised their rights. Bernard Partridge cartoon from 'Punch', London, 1932.

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War Loan Bonds conversion, 1932. In an attempt to reduce the National Debt the British government campaigned for the conversion of 5% War Loan Bonds to new 3 1/2% Bonds. Over 75% of bondholders applied for conversion and only 6 1/2% exercised their rights. Bernard Partridge cartoon from 'Punch', London, 1932.

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Photo credit: © World History Archive / Alamy / Afripics
License: Licensed
Model Released: No

Keywords: 1/2%, 3, 5%, 6, 1932, 1932., 75%, applied, archival, archive, attempt, bernard, bondholders, bonds, bonds., britain, british, campaigned, cartoon, conversion, debt, exercised, government, historical, history, loan, london, national, partridge, punch, reduce, rights., war