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The Epic Interactive Encyclopedia 1998
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Epic Interactive Encyclopedia, The - 1998 Edition (1998)(Epic Marketing).iso
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Lend-lease
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1992-09-03
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An act of the US congress Mar 1941 that gave
the president power to order `any defense
article for the government of any country
whose defence the president deemed vital to
the defense of the USA'. During World War II,
the USA negotiated many Lend-Lease
agreements, most notably with Britain and the
Soviet Union. The aim of such agreements was
to ignore trade balances among the
participating countries during the war effort
and to aid the Allied war effort without
fanning isolationist sentiments. Lend-lease
was officially stopped Aug 1945, by which
time goods and services to the value of $42
billion had been supplied in this way, of
which the British Empire had received 65% and
the Soviet Union 23%.