Ideology as a tool in the economic struggle is in and of itself nothing new in history. The literary ideology of Italianism in South America is of the slightest effect. Pan-Hispanism or Hispano-Americanism is best compared with Pan-Germanism of Imperial Germany; but it is a passive, theoretical “ism.” It is richer in ideology and poorer in economic strength. The psychological and political atmosphere, with the exception of the War years, had been not favourable toward American attempts to gain goodwill in Latin America. Besides, there was no such thing as a Pan-American ideology in political and economic literature of the United States. Like the United States, Brazil lost interest in these problems in the following decades. However, she participated in official Pan-Americanism like the others. At the end of the nineteenth century there arose a renaissance of Brazilian continental thought, whose ideology was familiar to the great Brazilian statesmen of that time.