After the French Revolution, the world money power shifted from Paris to London. For three generations, the British maintained an old-fashioned colonial empire, as well as a modern empire based on London’s primacy in the money markets. Then, in 1914, New York replaced London as the world’s financial capital. Before 1914, the United States had been a developing country, dependent on outside investment. But with the shift of the money power from Old World to New, what had been a debtor nation became a creditor nation and central motor to the world’s economy. All in all, the English were well pleased to have us take their place. They were too few in number for so big a task. As early as the turn of the century, they were eager for us not only to help them out financially but to continue, in their behalf, the destiny of the Anglo-Saxon race: to bear with courage the white man’s burden, as Rudyard Kipling not so tactfully put it. Were we not—English and Americans—all Anglo-Saxons, united by common blood, laws, language? Well, not, we were not. But our differences were not so apparent then. In any case, we took on the job. We would supervise and civilize the lesser breeds. We would make money.