ECONOMICS: $7 Billion Comrade?

In Washington the fourth Lend-Lease agreement with Russia was in process of fulfillment. Nearly all goods shipped to date were of the immediately expendable type (planes, trucks, food). But the emphasis was shifting. Unofficial reports said present negotiations stressed goods that may outlast the war (railroad equipment, machinery, etc.). These goods would not be "lent," they would be sold on terms like those of the new French Lend-Lease agreement (30 years to pay with interest at 2⅜%).

Five Republicans of the House Foreign Affairs Committee last week came out with an eyebrow-raising minority report on the French Lend-Lease agreement (TIME,...

Want the full story?

Subscribe Now


Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!