The foundation for the Canadian-American defense cooperation in the Cold War was laid in the early years of World War II. The Ogdensburg Declaration of 1940 and the Hyde Park Declaration of 1941 not only coordinated the Canadian-American wartime effort but formed the first mutual North American defense agreement. Addressing the need to alleviate Canada's financial bottlenecks and further tie Canadian-American war production, Hyde Park arranged for a reciprocal scheme of war material production in which both countries agreed to have war items manufactured in the country with the best capabilities to do so. In addition, the declaration allowed for materials needed by Canada for British orders to be secured by the British in the United States through the Lend-Lease Act of 1941. In 1947, Ottawa and Washington declared by means of a public declaration that both countries would continue their defense cooperation and thus extended their close wartime alliance into the Cold War era.