Trade LendLease Group
Lending and Rent Policy, officially titled Law to Promote the Defense of the United States (Pub.L. 77-11, H.R. 1776, 55 Stat. 31, age on March 11, 1941), was the program that the United States supplied the United Kingdom (and the British Commonwealth), Free France, The Republic of China, then the Soviet Union and other Allied states with food, oil, oil, oil, gear between 1941 and August 1945. This included warships and warplanes, among other weapons. It was signed into law on March 11, 1941, and ended in September 1945. Aid was generally free, although some equipment (such as ships) was returned after the war. In return, the United States granted leases on military and naval bases in Allied territory during the war. 21. Canada has pursued a similarly smaller programme called "mutual assistance". a total of $50.1 billion (equivalent to $575 billion in 2019) was shipped from supplies, or 17% of total war expenditures in the United States. In any case, $31.4 billion went to the United Kingdom, $11.3 billion went to the Soviet Union, $3.2 billion to France, $1.6 billion to China, and $2.6 billion remaining to other allies. Reverse rental lending policies included services such as rent on air bases that went to the United States, totalling $7.8 billion; of this, $6.8 billion came from the British and commonwealth. The agreement stipulated that the equipment would be used until it was returned or destroyed. In practice, very few equipment was received. Supplies that arrived after the termination date were sold to the United Kingdom at a significant discount of £1.075 billion, using long-term loans from the United States. Canada's mutual assistance program has sent a $1 billion and $3.4 billion loan in supplies and services to the United Kingdom and other allies. Lend-Lease effectively ended the neutrality declared by the United States enshrined in the neutrality laws of the 1930s. It was a decisive step away from non-interventionist policy and towards outright support for allies. Harry Hopkins, Roosevelt's senior foreign policy adviser, effectively controlled The Lindt-Rent, making sure that it was in line with Roosevelt's foreign policy objectives.