The Equitable Trust Company of New York. Emprunt National 5% 1920. Souscrivez!
Translation: The Equitible Trust Company of New York. 5% National Loan of 1920. Subscribe!
Lucien Jonas, Paris, 1920

Allied forces mounted a successful offensive throughout the summer of 1918. For Germany, the chance of victory slipped away. In early November, Kaiser Wilhelm ll abdicated his throne and fled to Holland while representatives of the new German Republic met with Allied leaders to negotiate peace.

On November 11, 1918 at 11 AM, German and Allied leaders signed an armistice ending the war. In all, more than seventeen million people died worldwide. Though few countries were unaffected, none were more damaged than France. War destroyed nearly seven million acres of land, 220,000 homes, and left 5% of the population dead or incapacitated.

France borrowed money from the United States and Britain to rebuild. The creation of new factories, along with the recovery of mineral-rich territories from Germany, allowed France to meet its prewar industrial production by 1925. In this postwar loan poster, Lucien Jonas portrays a French family admiring a house that American soldiers have built. His imagery reflects positivity amidst unprecedented loss.