In this paper, the author defines the various concepts and positions taken by different groups of preservationists in the U.S. « The historic preservation movement », he asserts, « has been and continues to be, a thundering failure ». Despite all the efforts, and with rare exception, urban landscapes of the eighteenth and nineteenth centuries have been destroyed. One of the principal causes for the failure of the historic preservation movement in the U.S. is the absence of a reverence for the past, and the counter current of those with « romantic attachment » to the past has not been able to surmount the ongoing destruction, mostly due to the lack of clear, well-defined arguments for preservation. The author analyses five elemental arguments used by preservationists. The arguments are :1) Cultural Memory — Fidelity to the past can lead to the danger of preserving history like « a fly in amber ».2) Antique Texture — the expression of an aesthetic and sensual perception of objects as an argument for preservation is done at the risk of being called elitist.3) Successful Proximics — The preservation of old neighborhoods on the grounds that is will maintain the quality of the social environment is alluring, but such arguments cannot be universally applied and must be carefully studied.4) Environmental Diversity — Environments of the past were more diverse than the present. However, « If you justify historic preservation on the grounds of environmental variety, you cannot complain if your variety cornes in unexpected forms ».5) Economic Gain — Applying cost/benefit analysis to historic preservation is certainly the strongest of the five arguments. The profits from various restoration projects have been very interesting, but the costs are paid more in terms of alienating the poor (by relocating them) and turning history into a nightly show à la Disneyland (Old Quarter of New Orleans). The author concludes by insisting on the necessity of well-defined principles that carry with them a vision of the future.