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From 1909 to 1913, President William Howard Taft and Secretary of State Philander C. Knox followed a foreign policy characterized as "dollar diplomacy". It was a policy whereby American influence would be exerted primarily by American banks and financial interests, supported in part by diplomats.
This lack of flair marked Taft's presidency; according to Lurie, Taft "was boring—honest, likable, but boring". [147] Mason called Taft's years in the White House "undistinguished". [148] Coletta deemed Taft to have had a solid record of bills passed by Congress, but felt he could have accomplished more with political skill. [149]
With World War I raging in Europe, Taft sent Wilson a note of support for his foreign policy in 1915. [185] President Wilson accepted Taft's invitation to address the league, and spoke in May 1916 of a postwar international organization that could prevent a repetition. [186]
The president confided in Taft and took his advice on many foreign policy issues. [10] After Hay's death in 1905, Roosevelt convinced Root to return to the Cabinet as secretary of state, and Root remained in office until the final days of Roosevelt's tenure.
McKinley was assassinated in September 1901 and was succeeded by Vice President Theodore Roosevelt. He was the foremost of the five key men whose ideas and energies reshaped American foreign policy: John Hay (1838-1905); Henry Cabot Lodge (1850-1924); Alfred Thayer Mahan (1840-1914); and Elihu Root (1845-1937).
In the speech, Taft discussed the success of the fourth Pan-American Conference. In terms of foreign policy, the President mentioned that special efforts should be undertaken to ensure continued American dominance of commerce abroad. President Taft also discusses the effectiveness of the Court of the Hague by saying: [2]
Similarly, while Trump’s foreign policy — especially on Ukraine — is a rejection of traditional American policy, it is difficult to argue it will be less effective than former President ...
American foreign policy under Wilson marked a departure from President Taft's "Dollar Diplomacy." Wilson wished to correct the American errors of the nineteenth century. [16] Instead, Wilson desired to extend American friendship to the nations of Latin America. In his 1913 Address Before the Southern Commercial Congress, Wilson states: