Oxford County's WWII Victory Loan Campaigns

Dive into the history of victory loan campaigns in Oxford County during the First and Second World Wars.

By Liz Dommasch, Archivist

Victory loans were developed during the First World War to help finance Canada’s military efforts. Although the first domestic war loan was raised in November 1915, it wasn’t until the fourth campaign of November 1917 that the term “Victory Loan” was applied. The First Victory Loan, with an issue of $150 million and consisting of 5.5% 5, 10, and 20-year gold bonds, was quickly oversubscribed, collecting $398 million. The Second and Third Victory Loans were floated in 1918 and 1919, bringing in another $1.34 billion. Canadians were encouraged to purchase Victory Bonds, War Savings Certificates and War Savings Stamps through the use of colourful, catchy posters, big ceremonies, and other fundraising events.

A parade float which was used in the 8th victory loan campaign in Oxford County.

During WWII, the Victory Loan returned with the same style colourful posters, patriotic pleas, and vast sales events, which had become familiar in WWI. There were 9 Victory Loans dating from June 15, 19141 to November 10, 1945, having total cash sales of almost $12 billion. Of that total amount, about 52 percent was raised from corporations while the rest was received from the general public.

In Oxford County, the Victory Loan Campaigns were the responsibility of the Oxford County War Finance Committee, chaired by James Vance. A native of East Zorra Township, James (Jim) Vance studied engineering at the University of Toronto before arriving in Woodstock in 1922 to take over his father’s contracting business. Although he would sell the company in 1962, today it is still known as James A. Vance Construction.

During the duration of all nine Victory Loan Campaigns, Oxford County was able to successfully raise over $41 million. Each campaign had its own motivational slogan, such as “Give us the Tools and we’ll Finish the Job” (1^st Campaign) or “Back the Attack” (4^th Campaign).

A Victory Dinner held November 20, 1945, in St. Paul’s Church, Ingersoll paid tribute to Vance with one speaker noting that “every loan under his leadership came through a credit to him and the people of Oxford County”. Special recognition was also made throughout the night to the various local area chairmen and salesmen including Edwin Bennett who had returned from a prisoners-of-war camp to get an award as “campaign salesman who showed the most originality, persistence, and energy”. Hugh Harris, a long-time veteran loan worker, was the happy recipient of a live pig, bound in red, white, and blue ribbons for his outstanding hard work.

Image credits:

Hugh Harris and pig: Woodstock Sentinel-Review. – 21 November 1945

8^th Victory Loan Float – COA93 Woodstock Training School, WWII fonds

James Vance’s 9^th Victory Loan folder – COA Reference shelf

The final sales bulletin of the Ninth Victory Loan Campaign for Oxford County, November 15, 1945.