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1 - The Anglo-American Relationship and the Need for Historical Interpretation

Published online by Cambridge University Press:  05 October 2013

Gavin J. Bailey
Affiliation:
University of Dundee
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Summary

This little island will be ridiculously proud some ages hence of its former brave days and swear its capital was once as big again as Paris, or – what is to be the name of the city that will then give laws to Europe? – perhaps New York or Philadelphia.

Horace Walpole, August 1776

I have come to the conclusion that they haven't any dollars left and I am convinced, if Congress does not make it possible for them to buy more supplies, they will have to stop fighting.

Henry Morgenthau, US Secretary of the Treasury, testimony to Congress during hearings on House Resolution 1776 in January 1941

These two statements encapsulate our fundamental understanding of the historical relationship between Britain and the United States to the present. Morgenthau's statement was made in support of the Lend-Lease Act in early 1941, a measure designed to relieve the exhausted British dollar exchange resources needed to purchase American supplies in World War II. The importance of that economic support is indicated by the critical dependence Morgenthau identified for it – without it, the British would be unable to continue their resistance to the Axis powers. This was a watershed moment, both in the history of the war and in the history of the Anglo-American relationship. British imperial decline and the rise of American power had been predicted, and then demonstrated.

Type
Chapter
Information
The Arsenal of Democracy
Aircraft Supply and the Anglo-American Alliance, 1938-1942
, pp. 1 - 27
Publisher: Edinburgh University Press
Print publication year: 2013

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