Dėl Lietuvos laisvės paskolos grąžinimo JAV lietuviams
Repayment of Lithuanian Freedom Bonds to Lithuanian-Americans

Summary/Abstract: The article, on the basis of archival documents and periodical press of that time, analyzes the reasons which forced the Lithuanian government at the beginning of the fourth decade of the 20th century to settle the issue ofthe sale of Lithuanian Freedom Bonds (LFBs) received from Lithuanian emigrants in 1919-1923. The Lithuanian government, regularly paying intereston the bonds (securities), realized that during the economic crisis of 1929-1932 their value decreased drastically (up to 25-30% of their nominal value). This decrease, unfortunately, diminished the prestige of the Lithuanian government among Lithuanian-Americans at the time when it assiduously tried to strengthen its authority among there. Persuaded by their representatives in the USA, the government authorized the bank of Lithuania to purchase the bonds to restore their value. However, to avoid expenses worth millions purchasing LFB in 1935, the Lithuanian government at first attempted to bind the bonds with the new domestic loan but in the end refused this idea and extended the validity of LFBs till 1945. Theauthor emphasizes that the authorities, having failed to increase interest on LFBs, had to purchase the major part of bonds in 1935-1936. The research proved that Lithuanians-Americans were willing to sell out their bonds because of the economic crisis, the devaluation of the dollar as well as unstable economic and political situation in Lithuania. However, Lithuania's occupation terminated the final purchasing of bonds planned for 1945. Nevertheless, it should be stated that this loan was useful and profitable for Lithuania.

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