3 - The Last Months of Lend Lease: Preparing for Stage III
Published online by Cambridge University Press: 05 November 2012
Summary
Although the day-to-day problems of war finance overseas continued to intrude, more and more of Keynes's time during 1945 was spent on post-war financial problems, in particular those of the transitional period after the end of lend lease, or Stage III. Throughout the period prior to the end of lend lease in August, Keynes, in addition to several memoranda, minutes and Treasury discussions of the situation, kept up an extensive and lively correspondence with R. H. Brand, head of the United Kingdom Treasury Delegation in Washington. Brand, along with others including F. G. Lee, kept Keynes informed of the twists and turns of Washington opinion and provided advice on procedure.
This mixture of wartime and post-war concerns came out clearly in two letters to the Canadian Deputy Minister of Finance.
To DR C. CLARK, 16 January 1945
Dear Clark,
Gordon Munro is taking to you in a separate letter some rather lengthy results of the further researches we have been making into the problem of how to avoid a re-adjustment between you and Washington on lend lease elements in the supplies to your Forces. But I should like also to write to you, briefly in this case, about another matter, which I know is preoccupying both you and Towers, namely, the type of exchange arrangements with the sterling area which are likely to be practicable in Stage III.
Naturally we, on our side, are not less preoccupied with this problem.
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- Information
- The Collected Writings of John Maynard Keynes , pp. 231 - 419Publisher: Royal Economic SocietyPrint publication year: 1978