LEASE-LEND AID

Wairarapa Times-Age, 17 June 1942, Page 3

LEASE-LEND AID

NOW MOVING BOTH WAYS REPAYMENT AFTER WAR. IN WAY TO SERVE NEEDS OF LASTING PEACE. (By Telegraph—Press Association—Copyright) WASHINGTON, June 15. President Roosevelt’s quarterly report to Congress on the lease-lend agreement revealed that the total till May 31 reached 4,497,000,000 dollars. The report said that the battle of production is being won. but that the battle of distribution is in a critical state. “Our reservoir of resources, said Mr Roosevelt, “is approaching the flood stage. The next step is for our military, industrial and shipping experts to direct its full force against centres of enemy power. “Britain and the United States are taking combined action to carry to our men weapons on anything that will float 'or fly and to places from which offensives can be launched.” : The report mentioned specifically food, housing and other equipment which is going to Britain and Australia for American troops, and also special machine tools and equipment for munitions plants. The report indicated that when the reckoning time comes after the war the United States docs not intend to de-, mand repayment dollar for dollar, tank for tank, and plane for plane. “The real war costs cannot be measured or compared, nor can they be paid for in money. They must be, and are being, met in blood and toil, but the financial costs of the war can and should be met in a way which will serve the needs of lasting 'peace and mutual economic well-being. “The money costs of the war will fall according to the rule of equality in sacrifice, as in effort.” The President asserted that leaselend business is moving both ways, with the Allies supplying the United States with things she needs to the fullest extent of their ability. He emphasised the hope that plans will soon develop for a series of agreements and recommendations for legislation in the , fields of commercial polciy, money, i internation investment an( t 'recon-1 struction. ■