First Advisor

Victoria Belco

Date of Award


Document Type

Closed Thesis

Degree Name

Bachelor of Arts (B.A.) in History and University Honors






Italy -- Foreign economic relations -- United States, United States -- Foreign economic relations -- Italy, Fascism -- Italy -- History, Fascist economics, Public debts




This thesis attempts to prove that relations between Fascist Italy and the United States government arose from, and remained grounded in, economic interest. Examining America's new position as a financial power demonstrates that America held influence in the future of Europe as never before and used this influence to further its booming economy. When considering the actions between politicians and businessmen who viewed the new Italian Fascist government's ideology positively, it is evident that the American government was significantly influenced by those interested in personally making money on Fascist Italy.

By this same token, a look at the economic situation and Italian Fascist actions shows a clear link between what the Italians needed economically, what America wanted diplomatically, and what American financiers did to ensure both sides were satisfied. The economic triangle appears most clear when examining the war debt settlement between the Italian and American government, and the one-million dollar loan by J.P. Morgan that shortly followed. When congenial relations between the governments faltered once fascist economics proved to be unreliable and America's financial power diminished following the depression, it became apparent that relations between the two countries had been rooted in unreliable economic interest.


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