The extensive literature on the Anglo-American ''special relationship'' revolves around an observation that Britain and the US tend to cooperate more closely than any other comparable pair of states. I argue that this cooperation pattern originates in the construction of a ''racialized peace'' between the American and British empires at the fin-de-siècle. My argument builds on constructivist theorizations of the links among state ⁄ national identity, foreign policy, and international conflict ⁄ cooperation. Beginning with a discourse analysis of representative texts from the period leading up to the Venezuela crisis of 1895-96, I show how American and British elites succeeded in framing themselves as the vanguards of civilization and how the idea that two Anglo-Saxon entities could not fight each other in a global political system defined by race had significant consequences in world politics.