Jump to content

Lend-Lease

From Wikipedia, the free encyclopedia
This is an old revision of this page, as edited by William M. Connolley (talk | contribs) at 19:26, 11 March 2003 (Modify text to be quote from the act, rather than near-quote. Add exact date. Etc.). The present address (URL) is a permanent link to this revision, which may differ significantly from the current revision.

The Lend-lease Act of 11th March 1941 permitted the President of the United States to "sell, transfer title to, exchange, lease, lend, or otherwise dispose of, to any [country whose defense the President deems vital to the defense of the United States] any defense article". It thus extended Cash and Carry and obliterated any sense of Neutrality. The value of the items to be lent were not to exceed $1,300,000,000 in total.

The act is generally known as lend-lease in the US but lease-lend in the UK. In fact neither term appears in the true title of the act, which is "Further to promote the defense of the United States, and for other purposes.". See [1] for the text of the act. More information, and images of the text, from [2].