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The Freedom Bonds Act of 2001

11 Sep

In September of 1942, as a reward for the town of Libertyville, Illinois’ record-breaking war bond sales in 1942, the town’s Liberty Theater was chosen to be the location of the world premiere of Errol’s first of five World War II films, “Desperate Journey”, which, much more notably now than then also starred Ronald Reagan. Far more notably at the time was the fact that Jimmy Cagney hosted the event.

This historic event of September 1942 was cited in the Freedom Bonds Act Hearings of 2001 U.S. Congressional Hearings of 2001, as follows:

From the Congressional Record (Bound Edition), Volume 147 (2001), Part 14][Pages 20376-20379]

FREEDOM BONDS ACT OF 2001

Mr. Speaker, I move to suspend the rules and pass the bill (H.R. 2899) to authorize the Secretary of the Treasury to issue War Bonds in support of recovery and response efforts relating to the September 11, 2001 hijackings and attacks on the Pentagon and the World Trade Center, and for other purposes, as amended.

The Clerk read as follows:

H.R. 2899

Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

This Act may be cited as the “Freedom Bonds Act of 2001”.

SEC. 2. ISSUANCE OF FREEDOM BONDS.

Section 3105 of title 31, United States Code, is amended by adding at the end the following new subsection:

“Freedom Bonds.–The Secretary may designate one or more series of bonds or certificates (or any portion thereof) issued under this section as `Freedom Bonds’ in response to the acts of terrorism perpetrated against the United States on September 11, 2001.”

Mr. KIRK of Illinois:

Mr. Speaker, I want to rise in strong support of H.R. 2899, the Freedom Bonds Act of 2001. This legislation draws upon the heritage of our greatest generation. During World War II, war bonds were one important way that every American could help make sure that our men and women in uniform had what they needed for victory. My own district is home to Libertyville, Illinois. Libertyville sold more war bonds per capita than any other city in America. Libertyville oversubscribed every bond quota assigned, and this achievement led to a unique honor.

In the fall of 1942, a young sailor reported for duty at the Great Lakes Naval Training Center. Like the 3 million Americans who entered the Navy there, James Cagney trained for war. On September 10, 1942, he was able to leave the base and paid a unique honor to Libertyville’s war bond drive by opening a major Hollywood movie there, Desperate Journey. Desperate Journey was a war thriller starring Errol Flynn and Ronald Reagan and it opened at the Libertyville Theater. Tickets went for a $25 war bond, and the evening was a smashing success, raising $110,000 for the war effort.

Mr. Speaker, in these tough times after September 11, we return to our values in tested ways to support our country and the cause of freedom. This legislation recalls that spirit of Libertyville to enlist the help of every American in our cause against terrorism. I would hope that this legislation receives quick action and that Libertyville can help launch our State’s freedom bond effort.

— Gentleman Tim

 

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