The History Network

By mid 1940 of the European powers and Britain and her Empire stood alone against Germany. The situation looked dire. Though the miracle of Dunkirk had managed to save thousands of British troops much of their equipment had been lost, Britain needed to replace this and her own industry was not up to providing in numbers the goods required. Though the United States was officially neutral it would supply goods on a "cash and carry" basis, and millions of pounds was flowing out of Britain to the US, in the form of gold, to pay for vital war materiel. But this could not go on, Britain had only so many assets it could liquidate. Dur: 18mins File: .mp3