Defense loan
The defense loan was an extraordinary war loan of 235 million Swiss francs , which the Swiss Federal Assembly approved in 1936 for additional armaments investments. The trigger was the danger of war that emanated from National Socialist Germany . The defense loan was initiated by Federal Councilor Rudolf Minger .
The bonds were securities with 3 percent interest and could be subscribed from September 21, 1936 to October 15, 1936. The bonds had an interest rate comparable to that of savings accounts at the time, but a little below that of previous government bonds . However, the state made additional relief possible, such as the abolition of stamp tax , the possibility of short-term repayment and small denominations. Since there was a devaluation of the Swiss franc in 1936 , the defense bond became a good investment, as the market price rose over 100% and thus promised an additional profit from the price increase. The state received a total of CHF 335 million from the bonds.
An extensive advertising campaign was carried out for the military loan. For example, the first commemorative coin was issued by the Federal Mint .
