Lend-Lease Act
Definition
The Lend-Lease Act was a U.S. law passed in 1941 that allowed the United States to lend or lease war supplies to any nation deemed "vital to the defense of the U.S." before America entered World War II.
Analogy
Think of it like lending your friend a baseball bat for their game because you're not playing yet, but you want them to win because their victory will benefit you too.
Related terms
War Bonds: These are debt securities issued by a government for the purpose of financing military operations during times of war. It's like taking out a loan from citizens to fund the war effort.
Neutrality Acts: A series of laws enacted in the 1930s intended to prevent the U.S. from becoming involved in foreign wars. It's like refusing to take sides in an argument between friends until absolutely necessary.
Cash and Carry Policy: This was a policy requested by U.S. President Franklin Roosevelt at a special session of Congress on Sept. 21, 1939, subsequent to the outbreak of war in Europe. It replaced neutrality acts so that European democracies might purchase American war materials on a cash-and-carry basis.
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