LJ asked in Arts & HumanitiesHistory · 1 decade ago

What was the Lend Lease (act) in the United States?

What was the Lend Lease (act) in the United States?

- who did it involve

-and what was the outcome

10 Answers

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  • Lester
    Lv 5
    1 decade ago
    Favorite Answer

    Lend-Lease, program of military and economic aid given by the United States to nations warring against the Axis powers in World War II. Despite the proclaimed neutrality of the U.S., Congress by the Lend-Lease Act of 1941 empowered President Franklin D. Roosevelt on behalf “of any country whose defense the President deems vital to the defense of the United States, to sell, transfer title to, exchange, lease, lend, or otherwise dispose of, to any such government any defense article” not expressly prohibited. The law originally authorized an appropriation of $1 million. The Office of Lend-Lease Administration, established in October 1941 to administer the act, was incorporated into the Foreign Economic Agency; in 1943 the office was transferred to the Department of State.

    In addition to the United Kingdom, China, and the USSR, 35 other governments received lend-lease aid. They included the Netherlands, Belgium, and the Free French. By the Reciprocal Aid Agreement with the United Kingdom, the Free French, Australia, and New Zealand, popularly known as reverse lend-lease, American troops stationed overseas in return received material assistance from the signatory nations. By August 1945, when the war ended, lend-lease appropriations totaled about $48 billion. The U.S. had received more than $6 billion in reverse lend-lease. Arrangements for the repayments by the recipient nations were begun shortly after hostilities ceased. Except for the Soviet debt, of which less than one-third was repaid, repayment was virtually complete by the late 1960s. The U.S., in 1972, accepted an offer by the Soviet Union to pay $722 million in installments through 2001 to settle the indebtedness.

  • keetch
    Lv 4
    3 years ago

    Define Lend Lease Act

  • 3 years ago

    Lend-lease Act Definition

  • 3 years ago

    In addition to the United Kingdom, China, and the USSR, 35 other governments received lend-lease aid. They included the Netherlands, Belgium, and the Free French. By the Reciprocal Aid Agreement with the United Kingdom, the Free French, Australia, and New Zealand, popularly known as reverse lend-lease, American troops stationed overseas in return received material assistance from the signatory nations. By August 1945, when the war ended, lend-lease appropriations totaled about $48 billion. The U.S. had received more than $6 billion in reverse lend-lease. Arrangements for the repayments by the recipient nations were begun shortly after hostilities ceased. Except for the Soviet debt, of which less than one-third was repaid, repayment was virtually complete by the late 1960s. The U.S., in 1972, accepted an offer by the Soviet Union to pay $722 million in installments through 2001 to settle the indebtedness.

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  • The British had to sell a great deal of, or even all of their investments in the USA, built up over more than a century, to clear the way for Lend-Lease. The USA profited coming and going through Lend Lease. The British had to sell off huge investments at "fire sale" prices, they then received weapons which they used against the common enemy, Nazi Germany, -----though the USA did not actually declare war until Nazi Germany declared war on it, and those who received the weapons have felt compelled to blubber their thanks ever since.

    Better, by far, than Lend Lease would have been if the USA had declared war against Nazi Germany with the other democracies back in 1939. It couldn' t, because the American people were too "prudent." FDR probably would have, but he was held back by the native bad sense of the people. The USA also could have shown up for the Munich Peace Conference in 1938. The Americans certainly spoke loudlly enough at the Paris Peace Conference in 1919. But by 1938, the Americans were "neutral" again.

  • 4 years ago

    Definitely A. Lend-Lease benefited America by creating demand in the economy, thus ending the Great Depression.

  • Anonymous
    1 decade ago

    The UK Paid off Lend lease In 2006 and paid nearly $14.00 for every dollar borrowed

    it was designed to help the UK win the war and to destroy the British empire after the War

    congress said so in 1941

  • ?
    Lv 4
    1 decade ago

    Lend Lease gave tons of war material to Great Britain and the Soviet Union during WW2. Both were already involved in heavy fighting against the nazis and couldn't pay for supplies. The US "loaned" then supplies in return for later payment. This payment that went into the billions was never repaid to us!

  • 1 decade ago

    LesterM has it right except the British debt was not finally paid of until 2006.

    In addition to this debt Britain gave the USA some of its overseas territories such as part of the Virgin Islands.

  • 1 decade ago

    Why don't you just google it? First thing that popped up when I searched for "Lend Lease" http://en.wikipedia.org/wiki/Lend-Lease

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