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The National War Bonds, which paid out a rate of interest of 5%, were issued in 1917 as the government sought to raise more money to finance the ongoing cost of the First World War. The Spectator wrote at the time: “It is the people of Great Britain who must provide the cash with which to finance the war, and there is little reason to doubt that they can do it if only they will. A large part of the nation, instead of being impoverished by the war, has been enriched.” The National War Bonds, which paid out a rate of interest of 5%, were issued in 1917 as the government sought to raise more money to finance the ongoing cost of the First World War. The Spectator wrote at the time: “It is the people of Great Britain who must provide the cash with which to finance the war, and there is little reason to doubt that they can do it if only they will. A large part of the nation, instead of being impoverished by the war, has been enriched.”