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Dollar diplomacy of the United States, particularly during the presidency of William Howard Taft (1909–1913) was a form of American foreign policy to minimize the use or threat of military force and instead further its aims in Latin America and East Asia through the use of its economic power by guaranteeing loans made to foreign countries. [1]
No foreign affairs controversy tested Taft's policy more than the collapse of the Mexican regime and subsequent turmoil of the Mexican Revolution. [96] Taft and Porfirio Díaz, Ciudad Juárez, Mexico, 1909. When Taft entered office, Mexico was increasingly restless under the grip of longtime dictator Porfirio Díaz.
Taft was well-educated in foreign affairs, from his academic studies of international arbitration, to his administration of the Philippines, and especially his service as Secretary of War. His main innovation was to downplay the use of physical power and threats of power, and emphasize the nation's rapidly growing economic power.
Taft and Porfirio Díaz, Ciudad Juárez, Mexico, 1909. Díaz opened Mexico to foreign investment of Britain, France, Germany, and most especially the United States. Mexico–United States relations during Díaz's presidency were generally strong, although he began to strengthen ties with Great Britain, Germany, and France to offset U.S. power and influence. [7]
"Columbia's Easter bonnet". The bonnet is labelled "World Power". Puck magazine (New York), 6 April 1901 by Ehrhart after sketch by Dalrymple.. The history of U.S. foreign policy from 1897 to 1913 concerns the foreign policy of the United States during the Presidency of William McKinley, Presidency of Theodore Roosevelt, and Presidency of William Howard Taft.
Taft increasingly became Roosevelt's trusted troubleshooter in foreign affairs, and his designated presidential successor in 1908 [14] Roosevelt was very close to Senator Henry Cabot Lodge of Massachusetts, but otherwise largely kept his distance from congressional leaders, much to the annoyance of those senators who were accustomed to ...
September 2 - Taft sets aside the first Naval oil reserve to be used in the event of war in Kern County, California. [49] September 23 - Taft bans all foreign ships from accessing Pearl Harbor, Guantánamo Bay, Subic Bay, and Guam. [50] September 24 - U.S. Marines restore order in the Dominican Republic amid the Dominican Civil War.
The Taft–Katsura Agreement (桂・タフト協定, Katsura-Tafuto Kyōtei), also known as the Taft-Katsura Memorandum, was a 1905 discussion between senior leaders of Japan and the United States regarding the positions of the two nations in greater East Asian affairs, especially regarding the status of Korea and the Philippines in the aftermath of Japan's victory during the Russo-Japanese War.