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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]
"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.
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:
Taft and Secretary of State Knox instituted a policy of Dollar Diplomacy towards Latin America, believing U.S. investment would benefit all involved and minimize European influence in the area. Although exports rose sharply during Taft's administration, his Dollar Diplomacy policy was unpopular among Latin American states that did not wish to ...
After 1900, experience deepened in the State Department, and at the very top level, Roosevelt, Taft, Wilson, Hoover and their secretaries of state comprised a remarkable group with deep knowledge of international affairs. American elections rarely featured serious discussion of foreign-policy, with a few exceptions such as 1910, 1916, 1920 and ...
From 1909 to 1913, President William Howard Taft and his Secretary of State Philander C. Knox asserted a more "peaceful and economic" Dollar Diplomacy foreign policy, although that too was backed by force, as in Nicaragua.
The William Howard Taft Presidency (University Press of Kansas, 2009) 51–64. Mowry, George E. Theodore Roosevelt and the Progressive Movement (1946) pp. 36–65 online. Mowry, George E. The Era of Theodore Roosevelt, 1900–1912 (1958) pp. 242–247 read online; Solvick, Stanley D. "William Howard Taft and the Payne–Aldrich Tariff."
1854: Commodore Matthew C. Perry negotiated the Convention of Kanagawa, which effectively ended Japan's centuries of national isolation, opening the country to Western trade and diplomacy. [6] The U.S. later advanced the Open Door Policy in 1899 that guaranteed equal economic access to China and support of Chinese territorial and administrative ...