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Overall the "dollar diplomacy" was to encourage and protect trade within Latin America and Asia. Taft maintained an activist approach to foreign policy. On one hand, he was the initiator of what became known as dollar diplomacy, in which the United States used its military might to promote American business interests abroad.
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:
Although exports rose sharply during Taft's administration, his Dollar Diplomacy policy was unpopular among Latin American states that did not wish to become financial protectorates of the United States. Dollar Diplomacy also faced opposition in the U.S. Senate, as many senators believed the U.S. should not interfere abroad. [206]
Although exports rose sharply during Taft's administration, his Dollar Diplomacy policy was unpopular among Latin American states that did not wish to become financial protectorates of the United States. Dollar Diplomacy also faced opposition in the U.S. Senate, as many senators believed the U.S. should not interfere abroad. [91]
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Knox felt that not only was the goal of diplomacy to improve financial opportunities, but also to use private capital to further U.S. interests overseas. "Dollar diplomacy" was evident in extensive U.S. interventions in Cuba, Central America and Venezuela, especially in measures undertaken by the United States government to safeguard American ...
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