1.
At the end of the war, millions of people were dead and millions more homeless, the European economy had collapsed, and much of the European industrial infrastructure had been destroyed. 2. The Soviet Union, too, had been heavily affected. 3. Many veterans used the GI Bill of Rights to get an education and buy homes.
This Act lifted the arms embargo and put all trade with belligerent nations under the terms of “cash-and-carry.” The ban on loans remained in effect, and American ships were barred from transporting goods to belligerent ports.