Ever since the abrupt announcement that Lend Lease was to be discontinued, the attention of the British public has been focused on Anglo-American economic problems. So furious has been the spate of articles (well informed and otherwise) launched by the Press, and so vociferous have been the supporters of wholly divergent views, that most people must by this time be heartily sick of the whole subject. I must therefore apologize for inflicting upon the Society the subsequent remarks on such a well-worn theme, but in self-defence would explain that the subject was chosen before the recent clamour and shouting arose.