Give to the Nation: Subscription to the National Loan is Open until 1 March 1916


Italy, which entered World War I on May 23, 1915, by declaring war on Austria-Hungary, financed its war effort primarily through domestic and international loans, along with some increases in taxation. Between December 1914 and the beginning of 1916 the Italian government issued three national loans to support the war effort. The war was not popular in Italy, and these loans were not greeted with particular enthusiasm by domestic investors. Posters were used to advertise Italian government bonds, which were sold predominantly in northern Italy to lower-middle-class buyers. This poster of 1916 advertising the 5 percent loan of that year features a winged victory brandishing a sword and a laurel wreath. Over the course of the war, the Italian government launched five national loans. The poster is by Ugo Finozzi (1874‒1932), an artist and illustrator who produced other war posters and postcards, including the much bleaker “Cacciali via!” (Drive them out!), an advertisement for war bonds of 1918 that shows an Italian soldier with a dagger drawn protecting an Italian mother and her child from the unseen invader.

Date Created

Subject Date

Publication Information

Danesi, Rome


Title in Original Language

Date alla patria : fino al 1. Marzo 1916 è aperta la sottoscrizione al Prestito Nazionale


Type of Item

Physical Description

1 print (poster) : lithograph, color ; 139 x 100 centimeters



  1. Douglas J. Forsyth, The Crisis of Liberal Italy: Monetary and Financial Policy, 1914‒1922 (Cambridge, U.K.: Cambridge University Press, 1993).
  2. Fabio Degli Esposti, “War Finance (Italy),” in: 1914-1918-online. International Encyclopedia of the First World War, ed. by Ute Daniel, Peter Gatrell, Oliver Janz, Heather Jones, Jennifer Keene, Alan Kramer, and Bill Nasson,
  3. Thomas Row, “Mobilizing the Nation: Italian Propaganda in the Great War,” Journal of Decorative and Propaganda Arts, Volume 24, Design, Culture, Identity (Miami Beach, FL: Florida International University Board of Trustees on behalf of The Wolfsonian-FIU, 2002).

Last updated: November 14, 2017