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SUPPLEMENT TO APPENDIX B

Showing status of completion of defense aid shipbuilding facilities as at Sept. 30, 1941

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STATEMENt of oscar s. cox, general COUNSEL, DIVISION OF DEFENSE AID REPORTS

PROBLEM OF REIMBURSEMENT FOR LEASE-LEND PROPERTIES

Senator ADAMS. Mr. Stettinius says in a brief way you can tell us the whole problem of the reimbursement for these lease-lend properties. Mr. Cox. He is being very charitable to me.

Do you mean within section 102?

Senator ADAMS. Well, such information as you give us about the whole problem, this reimbursement problem.

Mr. Cox. You mean as to the agreements?
Senator ADAMS. Yes.

SEVERAL AGREEMENTS ALREADY EXECUTED

Mr. Cox. There have been several agreements that are already executed, one with the Dominican Republic, one with the Netherlands East Indies, and three with American republics. The rest are in negotiation.

AGREEMENTS WITH UNITED KINGDOM AND CHINA NOW BEING

NEGOTIATED

Of course, the two major agreements, in terms of the whole picture, that are still left are the ones with the United Kingdom and the one with China. Both are in negotiation.

The work on both agreements, and particularly on the British, started the day after the lend-lease bill was passed. That is, it started about March 12, 1941, with the State Department carrying the major responsibility for the negotiation.

The theory is to work out in general principles the kind of benefits which from both the long range and short range standpoint would be in the best interests of the United States, with whatever necessary implementation is required to make them work.

The consultation first took place between the different branches of the American Government and between the State Department and the President, before even a draft was given to the British, on this end. Then further discussions went on with the British here, and subsequent discussions have been going on and still are going on between. the British and our Ambassador on the London end.

(Discussion off the record.)

Senator ADAMS. We will adjourn.

(Whereupon at 5:30 p. m. the committee adjourned until 10:30 a. m. Thursday, October 16, 1941.)

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Senator ADAMS. What part of this bill are you interested in? Mr. WILKIE. The lend-lease, $6,000,000,000 appropriation. Senator ADAMS. We have concluded consideration of the lend-lease bill. We are discussing the deficiency bill. You are interested in the lend-lease, you say.

Mr. WILKIE. Yes, sir.

Senator ADAMS. What part of it?

Mr. WILKIE. That $6,000,000,000 appropriation. I have something to say on behalf of small business about that appropriation.

OPPOSED TO APPROPRIATION

Senator MCKELLAR. In favor of it or against it?

Mr. WILKIE. Against it.

Senator ADAMS. You have a written statement?

Mr. WILKIE. Yes, sir.

Senator ADAMS. Could you summarize what you have in mind and let us put your statement in the record in full?

Mr. WILKIE. Yes, sir.

Senator ADAMS. I am saying that because we are awfully crowded for time. Instead of reading part of your statement, tell us what is in it.

PRIORITY DEPRESSION

Mr. WILKIE. I am much concerned about the priority depression that is brought about by the allotment of materials for defense use and taking them away from useful production. I believe that the lend-lease part of our appropriation is the part that is going to wreck our whole internal economy.

Of course, we are doing this lending of materials to other countries in the name of defense, but I believe it is that part that is a very serious thing right now, and we are alarmed about the great many small businesses that have gone out of existence, that are closing down, and about the 25 percent bigger unemployment now than there was before.

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