Without the Economic Assistance of the U.S., Great Britain would of Essay

Without the Economic Assistance of the U.S., Great Britain would of Industrially Collapsed during World War II - Essay Example It also depicted some interesting facts about the Allied Victory and the different phases that Britain and America experienced. It was by the end of this very devastating war that America emerged as a new, popular and powerful nation in the world. Often the World War II is referred to as the â€Å"Good War† representing that in the war the good forces triumphed over the evil. Since every war has its aftermaths especially when it’s a widespread conflict and is quite destructive as was the World War II. The role of United States during the outbreak of World War II in 1939 had been quite neutral. However, when the Germany victories began to rise in Europe it was then that president Roosevelt considered being the ally of Britain and started seeking ways through which they can aid Britain while not indulging themselves in the war. Under its Neutrality Act initially by which only some cash and carry purchases were made by the belligerents, in the mid of 1940s it was declared by president Roosevelt to send US weapons to Britain in surplus amounts (Hickman n.d.).1. The support provided to Britain was increased in view of the devastating setbacks in the war when the Netherlands, Norway, Belgium, Luxemburg and France fell to Nazis. Although America had taken a stance on providing a split two-to-one favor and to remain out of the war at every cost even at the stake of Britain’s loss. However by the end of 1940 in November, America decided to aid Britain and to take the risk of a war (Cole 1983)2. This was even declared by the candidates running for the Presidential elections in America 1940 just three days before the elections that: â€Å"Our policy is to give all possible material aid to the nations which still resist aggression across the Atlantic and Pacific Oceans† (Roosevelt) and â€Å"All of us – Republicans, Democrats and Independents – believe in giving aid to the heroic British people. We must make available to them the products of our industry† (Willkie). Thus, showing America’s utmost interest in providing aid to Britain (Churchill 1949)3 By March, 1941 America had maintained its stance of staying away from war and kept its isolationist sentiment, while Britain kept on fighting the war alone. The effects of war on the financial standing of Britain were apparent, its financial assets were ending, the Commonwealth assets from overseas were also dried up, and it had no aid coming from anyplace. At that time it was only the Cash and Carry option provided by America that was available to Britain for buying the war supplies and under this it was using American destroyers to protect the shipments. It was quite evident from the conditions that Britain was reaching the stage of Bankruptcy. This soon led to the Lend-Lease Act of March, 1941 that made America an ally for Britain. Under this Act, Britain was given the privilege to buy the war good without having to pay America upfront for the go ods. Hence, Britain was given over $1 billion as aid at the end of the year believing it to be sufficient amount to keep Britain standing during the war time. It has been stated in the UK’s Guardian Unlimited that, under the American Lend-Lease Act, it transferred nearly $48 billion worth of war good to different nations during the period March 1941 to September 1945, out of which the aid send to Britain amounted to nearly $21 billion which nearly equaled to UKs entire years gross national product. The major good under the Lend-Lease included