Lend-Lease Act

(The US learns to share :)

 

-Name of program between 1941 and 1945 where the United  States supplied the allied nations with an extensive amount of war materials.

-$50.1 billion worth of supplies was given to allied nations in return for services that went to the U.S.

    *$31.4 billion - Great Britain

    *$11.3 billion - Soviet Union

    *$3.2 billion - France

    *$1.6 billion - China

-Came into existence on March 11, 1941

    *"Permitted the President of the United States to sell, transfer title to, exchange, lease, lend, or otherwise dispose of, to any government               any defense article"

-Roosevelt set up the Office of Lend-Lease Administration in 1941

    *Edward R. Stettinius was appointed head

-Crucial move that eventually helped the allies to win World War II

-Lend-Lease was unexpectedly terminated on September 2, 1945.  The supplies and goods that were in Britain, or on the way to Britain, at the time were sold to Britain.  Britain's payment was stretched out over 50 years with a 2% interest.

    *The final payment was given to the U.S. on December 29, 2006.

 

 *FDR passing the Lend-Lease Act

 

Sources:

http://en.wikipedia.org/wiki/Lend-Lease

http://www.britannica.com/eb/article-9047741/lend-lease

http://www.americaslibrary.gov/assets/jb/wwii/jb_wwii_lendleas_1_e.jpg

 

Links:

Home- http://apwh.pbwiki.com/

Week 30- http://apwh.pbwiki.com/Week%2030:%20World%20War%20II%20IDs