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On Jan. 10, 1941, President Franklin Roosevelt introduced the lend-lease program to Congress. The plan was intended to help Britain beat back Hitler’s advance while keeping America only indirectly involved in World War II. Britain was cash-strapped and desperately needed airplanes, tanks and ships. Roosevelt had been committed to abiding by Americans’ wishes to stay out of the conflict but the lend-lease program provided for military aid to any country whose defense was vital to US security. The understanding was that, after the war, America would be paid back in kind. Congress overwhelmingly accepted the plan, which only staunch isolationists opposed. Roosevelt’s program enabled the U.S. military to prepare for the growing threat of Japan on its Pacific flank while helping Britain to contain Hitler across the Atlantic, as it permitted aid to Europe without committing American troops that might be needed in a Pacific war. Even though Roosevelt’s plan did not require immediate repayment, America commandeered what was left of Britain’s gold reserves and overseas investments to help pay for the increased defense production.
(History.com)
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