The French government issued four loans during World War I and, in 1920, two additional ones: l’emprunt de la Victoire (the Victory Loan) and l’emprunt de la Paix (the Peace Loan), also known as “l’emprunt de Reconstruction” (the Reconstruction Loan). Like the wartime loans, they were administered by the French banks. But now they urged civilians to buy bonds so that the country could address the huge devastation to French land and infrastructure, the repayment of its loans, and the relaunching of the economy. Like the wartime loans that preceded it, these war-bond drives were accompanied by major poster campaigns. This fundraising poster by Bruno Chavannaz , who also illustrated several earlier ones, was probably for the second of these campaigns, by the far the most ambitious of the two. It ultimately raised more than 27 million francs for the reconstruction.