I have examined the record of the Moscow Conference and the members of the mission have discussed the details with me. All of the military equipment and munitions items have been approved and I have ordered that as far as possible the delivery of raw materials be expedited. Deliveries have been directed to commence immediately and to be fulfilled in the largest possible amounts. In an effort to obviate any financial difficulties immediate arrangements are to be made so that supplies up to one billion dollars in value may be effected under the Lend-Lease Act. If approved by the Government of the U.S.S.R. I propose that the indebtedness thus incurred be subject to no interest and that the payments by the Government of the U.S.S.R. do not commence until five years after the war's conclusion and be completed over a ten-year period thereafter.
I hope that special efforts will be arranged by your Government to sell us the available raw materials and commodities which the United States may need urgently under the arrangement that the proceeds thereof be credited to the Soviet Government's account.
At this opportunity I want to tell you of the appreciation of the United States Government for the expeditious handling by you and your associates of the Moscow supply conference, and to send you assurances that we will carry out to the limit all the implications thereof. I hope that you will communicate with me directly without hesitation if you should so wish.
U.S. Department of State Bulletin, 8 November 1941. .