810.20 Defense/1152c: Telegram

The Acting Secretary of State to the Ambassador in Cuba (Messersmith)

192. The Department on July 17 handed to the Cuban Ambassador a draft34 of basic agreement for the lend-lease program of transferring military matériel to Cuba. The principal financial provisions are as follows: Cuba is to receive a total of $3,700,000 of war and navy matériel of which it is expected $1,000,000 of army matériel and $100,000 of navy matériel will be transferred during the fiscal year ending June 30, 1942. This delivery date is subject to change if broad defense considerations so require.

With respect to repayment, Cuba is expected to pay $400,000 in each fiscal year until 1947, making a total of $2,400,000 to be repaid prior to June 30, 1947. In consideration of the broad objectives of the program and of certain very general economic concepts, the entire obligation of Cuba to the United States would be considered discharged by such payments.

  1. Not found in Department files.