With this poster, the Comptoir National d’Escompte de Paris (CNEP) calls on its clients to participate in the 4th National Defence loan known as the Liberation Loan, launched in 1918. The sums the French people loaned the State to finance the war effort earned them an annual annuity of 4%.
When the banks contributed to the war effort
French banks provided decisive support to help fund the 1914-1918 war and the reconstruction efforts.
Faced with exceptional financial needs, partially related to the length of the conflict, the French government launched 4 major “National Defence loans” (1915, 1916, 1917 and 1918).
Meanwhile the banks mobilised their networks in order to harness the savings of the French people. Issued as perpetual bonds starting in 1915, these four National Defence loans were the most famous, promoted on posters featuring powerful patriotic allegories. These posters covered the facades of bank agencies during the war.