“Austrian War Bond Posters from the Great War” Exhibition
Neue Galerie
This event has ended.
One hundred years ago, Europe erupted into a cataclysmic war that brought down four empires (Austro-Hungarian, German, Ottoman, and Russian), wreaked unprecedented destruction, and altered modern society forever. Known as the Great War, and later as World War I, the trigger event was the assassination of heir apparent Archduke Franz Ferdinand and his wife in Sarajevo by 19-year-old Serbian Gavrilo Princip on 28 June 1914.
Emperor Franz Joseph and his advisors were determined to protect the integrity of the Austro-Hungarian Empire. An ultimatum was delivered to Serbia in late July. With Serbia’s refusal, war was declared on 28 July. Hundreds of thousands of men volunteered to serve. There was widespread belief that the war would end quickly and that it would offer a necessary “cleansing” to society.
Europe marched off to war woefully unprepared. As early as autumn 1914, the Austro-Hungarian Empire had to borrow money to finance the mobilization of its troops. The issuance of war bonds soon followed. Austro-Hungarian loans were issued twice a year–May and November–and paid 5% interest with a five-year term. These bonds—promoted through postcards and posters—include a wide array of imagery, such as soldiers in uniform and women and children offering gold coins for the cause. One striking example shown here depicts a German U-boat, the use of which precipitated the United States entering the conflict in 1917.
The first Austrian war bond raised $440 million. Children were even enlisted to help, as war bond campaigns were held in schools. Likewise, two-thirds of Austrians and one-third of Hungarians purchased bonds. In addition to bonds, the Austro-Hungarian government funded the war through increases on customs receipts, loans, currency inflation, and taxes.
Media
Schedule
from October 09, 2014 to April 20, 2015