This Article argues for stabilizing and preserving arbitration's necessary and valuable vocation in dispute resolution. It outlines the basic stages in the evolution of the American law of arbitration and studies the underlying motivation of each of its historical phases. It attributes vital significance to the legislative and decisional law developments that led to an early rehabilitation of arbitration in American law, beginning with the enactment of the United States Arbitration Act (FAA) in 1925 and continuing with the ratification of the New York Arbitration Convention and the elaboration of a "hospitable" federal caselaw. Eventually, these developments gave rise to a law of arbitration with truly national dimensions that also embraced the ideals of international comity.