A meridional American space, a brief history, a rapid rythm of change and finally a specific time element, these are perhaps the fundamental elements of American history. These fundamental elements determine a conjucture. America entered the mainstream of history rather late. But America has more than fully made up for this because events and economic factors, which take place there, have an amazing ability to stamp by their shifts and changes the worldwide resultant of all specific conjunctures. To the extent that, almost everywhere, the rythm of a worldwide conjuncture can be felt, whose peaks and troughs impose themselves on men and have to be forcibly taken into account by all strategies, this conjuncture, ever since America took her place in history, has borne the imprint of America. One is tempted to write that it is American.