The statute placed a $1.3 billion ceiling on a category of transferred articles but allowed the relevant department or agency to determine their value. A joke that an aircraft could be assigned a token price exposes the practical discretion hidden in that arrangement. The same section authorized testing, inspection, repair, outfitting, reconditioning, and private contracts for those services. It also permitted defense information to be communicated and articles to be released for export. The president retained equally broad discretion to accept money, property, repayment in kind, or another direct or indirect benefit as satisfactory consideration.
Notable Point · 24:29-26:42
Valuation and servicing powers soften the statutory ceiling
Departmental valuation, repair authority, private contracting, and flexible reciprocal terms made the headline limit less restrictive than it appeared.