Lend-Lease was a plan developed by the United States early in World War II (1939-1945) to aid the countries that were then fighting the Axis powers. The Lend-Lease Act became law on March 11, 1941. It provided that the president of the United States could transfer weapons, food, or equipment to any nation whose fight against the Axis aided the defense of the United States. Under Lend-Lease, billions of dollars worth of American supplies were transferred to the United Kingdom, China, and the Soviet Union. President Franklin D. Roosevelt described the Lend-Lease Act as helping to put out the fire in your neighbor’s house before your own house caught fire and burned down.
After World War II, no terms were decided upon for the return of goods by countries that received U.S. equipment under the Lend-Lease Act. Some countries, especially the United Kingdom, had already balanced part of the account by furnishing goods and services to U.S. troops. Many people felt that to accept a return of the goods that had been lent would harm U.S. producers. Some people pointed out that all nations fighting the Axis powers contributed everything they could to the war effort. They argued that American Lend-Lease contributions were balanced by the sacrifices of the other Allies.
