128 SPECIALPROVIDENCEThosewhodenounce(or,inthecaseofContinentalrealists,admire)
Hamiltoniansfortheirpresumedhard-nosed,realisticapproachtopro-
motingthenationalinteresthavemisunderstoodthesynthesisofprinci-
plesandintereststhatdoessomuchtodefinetheHamiltonianmind.
Businessisthehighestformofphilanthropy;commerceisthefastest
roadtoworldpeace.Othersmayscoffatthatview,andattackwhatthey
seeastheconscioushypocrisyoftheHamiltonianforeignpolicyestab-
lishment.Yetthatbeliefissincerelyheldanddeeplyfelt.Whetherone
agreeswithitornot,itisimpossibletounderstandthemotivesandthe
actionsofHamiltonianpolicymakerswithoutunderstandingthepsy-
chologicalandintellectualinfluenceofthisconviction.
E
venasHamiltonianssoughttofulfilltheirtraditionalgoalsinthe
newcircumstancesthatfollowedthefalloftheBritishEmpire,
they understood thatthe newinternational situationwould require
boldchangesintime-honoredAmericanstrategies.Toadjusttohewcir-
cumstances,Hamiltonianswouldchangetheirpolicyapproachinthree
importantwaysafterWorldWarII.Thoseadjustments,largelycomplete
by1950,continuetoshapeAmericanforeignpolicytoday.
ThemostimportantchangecameinthepolicytowardBritain.From
1789 to1941,HamiltoniansgenerallybelievedthatAmerica'splacewas
at Britain'sside.From 1941 tothepresent, they havebelievedthat
Britain'splaceisatAmerica's.AmericaninterventioninWorldWarI
wasinmanywaysshapedtosupportGreatBritain'sinternationalposi-
tion.Thiswasastrueinfinanceasitwasinpolitics;oncetheUnited
Statesenteredthewar,theBritishgovernmentreceivedofficialcredit
fromtheUnitedStatesonveryfavorableterms.InparticularAmerican
authoritiesextendedbalance-of-paymentsassistancewithoutrequiring
theBritishgovernmenttocallinprivatelyhelddollar-denominatedor
gold-backedsecuritiesfromBritishcompaniesandcitizens.
Those termsbecameevenmorefavorablewhenBritainfirstmade
repaymentcontingentonreceiptofGermanreparationsandthenrepudi-
ateditswardebtoutright. WhilediligentAlliedpropagandaduring
WorldWarIItrumpetedthedisinterestednatureofsuchprovisionsas
Lend-Lease,inrealitytheUnitedStatesadopteda farharshereconomic
approachtoBritishwealthafter1939.ThistimetheBritishwereforced
todivestthemselvesofa substantialportionoftheirforeignholdings,
offeringenormousopportunitiesforAmericancapitaltoacquirethose