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      2. There is another aspect. It takes between three and four years 
      to convert the industries of a modern state to war purposes. 
      Saturation point is reached when the maximum industrial effort 
      that can be spared from civilian needs has been applied to war 
      production. Germany certainly reached this point by the end of 
      1939. We in the British Empire are now only about halfway through 
      the second year. The United States, I should suppose, was by 
      no means so far advanced as we. Moreover, I understand those 
      immense programs of naval, military and air defense are now on 
      foot in the United States, to complete which certainly two years 
      are needed. It is our British duty in the common interest as 
      also for our own survival to hold the front and grapple with 
      Nazi power until preparations of the United States are complete. 
      Victory may come before the two years are out; but no right to 
      count upon it to the extent of relaxing any effort that is humanly 
      possible. Therefore I submit with very great respect for your 
      good and consideration that there is a solid identity of interest 
      between the British Empire and the United