Investopedia

Continue to Site »

Service Certificates

Filed Under » ,
Dictionary Says

Definition of 'Service Certificates'

Bond-like certificates that promised payments at maturity date to World War I (WWI) veterans. Service certificates were granted to WWI veterans under the Adjusted Service Certificate Law in 1924, which promised "bonus" payments to eligible soldiers redeemable in 1945. Service certificates had a face value like a bond and the promised payment at maturity included compound interest.
Investopedia Says

Investopedia explains 'Service Certificates'

The long-term maturity date of these service certificates presented problems for holders and the U.S. goverment. In the 1930s, in the midst of the Great Depression, war veterans were desperate and tried to demand immediate payment of the service certificates. A group of war veterans and their families, known as the "Bonus' Army", marched to Washington D.C. to try to persuade Congress to move up the date of maturity of the certificates. The march in 1932 failed initially to get Congress to speed up the payments, only in 1936 did Congress pass a bill allowing veterans to collect the service certificate payment.

Articles Of Interest

  1.

    Protect Your Personal Assets

    A family limited partnership (FLP) can go a long way toward securing your family's property.

  2. The History Of Money: Currency Wars

    Find out how conflicts have changed the role money plays in our lives.

  3. The Financial Markets: When Fear And Greed Take Over

    If these unpleasant emotions are allowed to influence your decision-making, they may cost you dearly.

  4. War's Influence On Wall Street

    Blitzkrieg? Dawn raids? Sounds like the markets and the battlefield have a few things in common!

  5. Playoff Perks For Pro Athletes

    If personal pride, a stellar resume and increased job security aren't enough incentive for some pro athletes, each league has reserved a bit of lunch money to up the ante and help tide athletes ...

  6. Why You Should Invest In Municipal Bond ETFs

    These versatile instruments have become popular with investors in higher tax brackets and fill a specific niche in the wide selection of fixed-income offerings.

  7. What is a triple tax-free municipal bond?

    At its core, a triple tax-free municipal bond is just like any corporate bond: it is a debt instrument, a loan given to a government authority or municipality in order to help it meet certain ...

  8. Besides a savings account, where is the safest place to keep my money?

    Savings accounts are safe because investors' deposits are guaranteed by the Federal Deposit Insurance Corporation (FDIC) for bank accounts or the National Credit Union Administration (NCUA) for ...

  9. How does TARP affect the economy?

    TARP - or the Troubled Asset Relief Program - is a government program created in response to the subprime mortgage crisis that began in 2007. The original goal of the program was to give the ...

  10. Which Financial Careers Pay The Most?

    There are many job that can be considered "working in finance" but some definitely pay more than others.
comments powered by Disqus
Marketplace
Hot Definitions

  1. Disaster Loss

    A special type of tax-deductible loss, similar to a casualty loss, where a loss has been incurred by taxpayers who reside in an area that has been designated as a federal disaster area by the President.

  2. Fool In The Shower

    The notion that changes or policies designed to alter the course of the economy should be done slowly, rather than all at once.

  3. Pattern Day Trader

    An SEC designation for traders who trade the same security four or more times per day (buys and sells) over a five-day period, and for whom same-day trades make up at least 6% of their activity for that period.

  4. Cost-Push Inflation

    A phenomenon in which the general price levels rise (inflation) due to increases in the cost of wages and raw materials.

  5. Happiness Economics

    The formal academic study of the relationship between individual satisfaction and economic issues, such as employment and wealth.

  6. Affluenza

    A social condition arising from the desire to be more wealthy, successful or to "keep up with the Joneses." Affluenza is symptomatic of a culture that holds up financial success as one of the highest achievements.
Trading Center
Array ( )
taggroups(for debug only):
Array ( [0] => Personal Finance [1] => Bonds And Fixed Income [2] => Investing [3] => Bonds [4] => SEG (Investors) [5] => SEG (Investors:Instrument-Bonds) ) time:8ms