A Dictionary of American History

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Author: Thomas L. Purvis  | Date: 1995

Lend Lease Act

Lend Lease Act (11 March 1941) To circumvent the Johnson Debt Default Act’s restrictions on federal financial loans to ex-Allies from World War I, this law allowed the president to lend, lease, or otherwise transfer military equipment and other war-related goods to nations whose security was declared essential to US interests by the president. Congress voted for an initial exchange of $7 billion in war materiel. Lend lease began with the transfer of badly-needed escort ships to the British; when it was terminated on 21 August 1945, US aid to Britain and the USSR totaled $50.6 billion.

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Chicago: Thomas L. Purvis, "Lend Lease Act," A Dictionary of American History in A Dictionary of American History (Cambridge, Mass.: Blackwell Reference, 1995), Original Sources, accessed October 16, 2019, http://originalsources.com/Document.aspx?DocID=HH5EYYDEGBPRJJV.

MLA: Purvis, Thomas L. "Lend Lease Act." A Dictionary of American History, in A Dictionary of American History, Cambridge, Mass., Blackwell Reference, 1995, Original Sources. 16 Oct. 2019. originalsources.com/Document.aspx?DocID=HH5EYYDEGBPRJJV.

Harvard: Purvis, TL, 'Lend Lease Act' in A Dictionary of American History. cited in 1995, A Dictionary of American History, Blackwell Reference, Cambridge, Mass.. Original Sources, retrieved 16 October 2019, from http://originalsources.com/Document.aspx?DocID=HH5EYYDEGBPRJJV.