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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Image Number: 1746-19626273Rights ManagedCredit Line:World History Archive/Image Asset Management/SuperStockCollection:Image Asset Management Contributor:World History Archive Model Release:NoProperty Release:NoResolution:2963×4200
