$100 United States Savings Bond and Envelope - 1944 dated Bond with Envelope

$100 Series E U.S. Savings Bond with the First National Bank of North Bergen envelope to keep it in. The Pair.

United States savings bonds are debt instruments issued by the U.S. Department of the Treasury to assist in meeting the borrowing requirements of the federal government. These bonds are regarded as one of the most secure investment options since they are supported by the full faith and credit of the U.S. government. The savings bonds are classified as nonmarketable treasury securities available to the public, indicating that they cannot be traded on secondary markets or transferred in any other manner. They can only be redeemed by the original buyer or a designated beneficiary in the event of the buyer's death.

On February 1, 1935, President Franklin D. Roosevelt enacted legislation permitting the U.S. Department of the Treasury to issue a new category of security known as the savings bond, aimed at promoting savings during the Great Depression. The inaugural Series A savings bond was released a month later, with a nominal value of $25. These bonds were promoted as a secure investment option accessible to all. Subsequent Series B, C, and D bonds were introduced in the following years.

Series E bonds, known as Defensive Bonds, served as a significant source of funding just prior to the United States' involvement in World War II. On April 30, 1941, Roosevelt acquired the first Series E bond from Treasury Secretary Henry Morgenthau, Jr.; the following day, they were made available for public purchase. Following the attack on Pearl Harbor, Defensive Bonds were rebranded as War Bonds. Stamps featuring a Minuteman statue design, available in denominations of 10¢, 25¢, 50¢, $1, and $5, were also sold for collection in booklets, which could be exchanged for interest-bearing Series E bonds once filled. All proceeds from the bonds were directly allocated to support the war effort.