My dear Mr. President:                   
 
                                                            
 
 
I enclose for your consideration drafts of notes to be exchanged 
      with the British Ambassador and the Australian Minister concerning 
      the principles and procedures applicable to the provision of 
      aid by the Governments of the United Kingdom and Australia to 
              the armed forces of the United States.        
 
                                                            
 
 
The essence of the proposed arrangement with the United Kingdom 
      is that the war production and war resources of each contracting 
      nation should be used by the armed forces of each, and of the 
      other United Nations, in ways which most effectively utilize 
      available materials manpower, productive facilities and shipping 
      space. With respect to financing, the general principle to be 
      applied is to reduce to a minimum the need of each Government 
                  for the currency of the other.            
 
                                                            
 
 
                       The President,                       
 
      The White House.