[ARC5] Lend-Lease (was P-40 Found in Desert)

[mac]

To which Robert Alphonso Taft, Republican Senator from Ohio,  
responded: "Lending war equipment is a good deal like lending chewing  
gum. You don't want it back."

On the matter of payback Wikipedia says:

"There was no charge for the Lend Lease aid delivered during the war,  
but the Americans did expect the return of some durable goods such as  
ships. Congress had not authorized the gift of supplies after the war,  
so the administration charged for them, usually at a 90% discount.  
Large quantities of undelivered goods were in Britain or in transit  
when Lend-Lease terminated on 2 September 1945. Britain wished to  
retain some of this equipment in the immediate post war period. In  
1946, the post-war Anglo-American loan further indebted Britain to the  
U.S. Lend-lease items retained were sold to Britain at 10% of nominal  
value, giving an initial loan value of £1.075 billion for the Lend  
Lease portion of the post-war loans. Payment was to be stretched out  
over 50 annual payments, starting in 1951 and with five years of  
deferred payments, at 2% interest.[28] The final payment of $83.3  
million (£42.5 million), due on 31 December 2006 (repayment having  
been deferred in the allowed five years), was made on 29 December 2006  
(the last working day of the year). After this final payment Britain's  
Economic Secretary to the Treasury, Ed Balls, formally thanked the  
U.S. for its wartime support."

Dennis D.  W7QHO


Glendale, CA

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On May 12, 2012, at 4:40 PM, gordon white wrote:

>   The description by FDR in 1940 was that "when your neighbor's house
> is on fire you loan him a hose and get it back when the fire is put  
> out."