LEND-LEASE FACTORS

Dominion, Volume 37, Issue 19, 18 October 1943, Page 5

LEND-LEASE FACTORS

Resources, Sacrifices, And Contributions NEW YORK, October 15. ■ “Lend-lease has never been an accounting transaction, and we do not-expect to match other nations’ figures against ours to arrive at a balance,” declared an authoritative source, says the Washington correspondent of the “New York Herald Tribune.” It was added that there is a difference of opinion within the Lend-Lease Administration about the ultimate settlement, but high officials believe it is impossible and undesirable to set dollar values on Ihe whole transaction. Records are kept in terms of dollars for all supplies and services which the United States provides, but reverse lend-lease supplies by the Allies are accounted on a different basis. No attempt has been made since Pearl Harbour to balance the two accounts. Britain so far bus not assigned n dollar or pound value to her services. Henceforth, however, by request of the. Lend-Lease Administration, Britain will try to evaluate her services in terms of pounds, but the question of the exchange rate has not been solved, as the current rate of the dollar to the pound is considered unfavourable to Britain. Russia has provided little reverse lend-lease, but this is considered to be balanced by the heavy pouring out of Russian arms and lives. Ultimate settlement will he reached by negotiation among the United Nations. Consideration will be given not only to each country's contribution in lives and material sacrifices, but also to, the relation of each country’s contributions to its resources. Repayments after the war will be pretty well limited to American possession of factories and ether permanent facilities built with lend-lease funds, and perhaps rights to use air bases and similar facilities built with lend-lease money abroad.