War bonds are debt securities issued by a government to finance military operations and other expenditure in times of war. The bonds also remove money from circulation and thus help to control inflation. In practice, a government in desperate need of finances may also put additional money into circulation. War bonds are either retail bonds marketed direct to the public or wholesale bonds traded on a stock market. Exhortations to buy war bonds are often accompanied by appeals to patriotism and conscience. Retail war bonds, like other retail bonds, tend to have a yield which is below that offered by the market and are often made available in a wide range of denominations to make them affordable for all citizens.
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