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  4. Australia under attack 1942-1943
  5. Australia under attack: Mobilising the nation
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Australia under attack: Investing in victory

  • Introduction
  • Under attack
  • Mobilisation
  • The End in sight

 

Percy Spender was Treasurer in the Menzies Government in early 1940 when he and his department created a plan for raising money to pay for the war effort by encouraging Australians to “invest in victory” by purchasing war savings certificates. The issuing of these certificates enabled the government to borrow money from the Australian people.

The loans supplemented the government’s war budget and their purpose was to reduce inflation by soaking up money unable to be spent on scarce consumer goods.

Certificates bought during the war were expected to mature from 16 shillings to £1 in seven years. By 1942 the sale of war savings certificates was a major source of revenue for the government. Australians were encouraged to invest during victory loan drives.

Collection Item C280920

Accession Number: 001336

Federal Treasurer Percy Spender001336

Collection Item C1028489

Accession Number: REL31823

War Savings Certificates banner

Collection Item C1041795

Accession Number: RELC02619

War Savings Certificate

Collection Item C100030

Accession Number: ARTV04566

We’re all in this …

Mobilisation

  • Mobilising the nation
  • Air Raid Precautions
    • Identification labels
    • The Anderson air raid shelter
    • “When the air raid siren sounds …”
  • Scanning the skies
  • The man who killed Santa Claus
    • Austerity
    • Suits and home-made toys
    • Investing in victory
  • Inventors and industry
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  • The Australian Military Forces
    • Lines of communication
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    • Australia’s home guard
    • The Nackeroos
    • The RAAF at war
    • The Z men

Last updated: 27 November 2019

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TRADITIONAL CUSTODIANS

The Australian War Memorial acknowledges the traditional custodians of country throughout Australia. We recognise their continuing connection to land, sea and waters. We pay our respects to elders past and present.
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The Australian War Memorial

Fairbairn Avenue
Campbell ACT 2612
Australia
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The Australian War Memorial

Fairbairn Avenue

Campbell ACT 2612

Australia

 

Opening Hours

10 am to 4 pm daily (except Christmas Day)

 

In preparation for the daily Last Post Ceremony,

galleries are progressively closed from 3:40 pm.

 

Public entrance via Fairbairn Avenue, Campbell ACT 2612

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