Peace Loans - World War I

Peace Loan Plaque: Commonwealth of Australia Peace Loan A.D. 1919 To commemorate the subscription of Double the Allotted Quota of thes Loan by the Shire of Doncaster. J Tully President, WA Watt Treasurer, WM Hughes Prime Minister. DJ2772

During World War One, to finance the war the Commonwealth had a series of war loans, and then peace loans. To recover the cost of the war and fund soldier pensions the government launched 'Peace Loan' campaigns after the war. The various Shires in each States were given quotas that they were expected to raise. It was announced that “a bronze tablet would be issued to each district which secures its quota. The tablet is to be fixed on the wall of the local municipal building, and will bear the name of the Shire to which it is awarded, and the name of the President. The inscription explaining the object of the award will be over the signatures of the Prime Minister and the Treasurer of districts which secure double their quota the tablet will be surmounted by the Commonwealth coat-of-arms”. (1)

The Shire of Doncaster met its quota and “The Reporter” newspaper (Box Hill) of March 1920 reported as follow “An interesting exhibit at the meeting of Doncaster council on Tuesday night, March 9, was the bronze tablet presented by the Commonwealth Government to commemorate the subscription of double the allotted quota by the shire of Doncaster for the Peace Loan, 1919. It was much admired by councillors, who expressed pride at securing such a coveted honor. The secretary was instructed to have the tablet suitably mounted and hung on the wall of the council chamber, in order that it may in the future fittingly remind them of such an historic occasion. The shire's quota for the loan was £13,500, and total of £30,880 was raised, a most gratifying and satisfactory result”. (2)

Although the Shire of Doncaster tablet is not these days hung on the wall of the council chamber, it is in the safe keeping of the Doncaster Templestowe Historical Society. We wonder how many other Shires there are who met their quota and still have their bronze tablet.

Sources:

(1) 1919 'The Peace Loan.', The Age (Melbourne, Vic. : 1854 - 1954), 19 August, p. 5. , viewed 16 Feb 2023, http://nla.gov.au/nla.news-article202450422
(2) 1920 'DONCASTER PEACE LOAN', The Reporter (Box Hill, Vic. : 1889 - 1925), 12 March, p. 2. , viewed 16 Feb 2023, http://nla.gov.au/nla.news-article257153672

Ian Schafter DTHS February 2023

---

Peace Loan

Commonwealth Government of Australia, EB Studios, Sydney c. 1918 - 1920 

Australian post-war poster appealing to viewers to apply for 'Peace Loans' which were needed to recoup the cost of the war. Peace loans functioned along the same lines of the War Loans, in that people 'lent' the government money in return for interest. This poster depicts an Australian naval ship heading back home; it is surrounded by a wreath of laurel, and flanked by the Union Jack and the Australian flag. The text and image are positioned against a yellow background.

Source: https://www.awm.gov.au/collection/C95588. Feb2023

---

THE PEACE LOAN

Add Trove entries regarding Peace Loans in Victoria

---

Badge - 'Peace Loan 1919 Subscriber', World War I, Aug 1919

Small, metal badge dating from August 1919, the year after World War I ended.

During World War I the Australian public loaned the government £193,689,974 for the war effort. After the war, the government issued 'Peace Loans' in order to recoup some of the money spent during the war and to facilitate the return of the Australian servicemen. The announcement of the first of three such loans was made in August 1919 by Acting Treasurer Alexander Poynton.

Source: https://collections.museumsvictoria.com.au/items/268914

---

---

---

---