This item is believed to be a “Holdall,” which would have been used during World War One to keep items together. Holdalls would contain various items needed for personal use and hygiene such as utensils, comb. sewing kit ("Housewife"), shaving equipment, toothbrush, etc. It is stamped with, "1916 W [arrow symbol] D 25." The arrow symbol was used by the British government to denote government property and was used in various parts of the British empire, the "WD" indicates that the item belonged to the British War Department and the "1916" indicates the year.
"The Canadian Government sold Victory Bonds to Canadian citizens, private corporations and various organizations in order to raise funds to pay for the war. The bonds were a loan to the government that could be redeemed with interest after 5,10, or 20 years and were released during 5 different campaigns between 1915 and 1919. In 1915 a hundred million dollars worth of Victory Bonds was issued and quickly purchased."