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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]
The United States occupation of Nicaragua from August 4, 1912, to January 2, 1933, was part of the Banana Wars, when the U.S. military invaded various Latin American countries from 1898 to 1934. The formal occupation began on August 4, 1912, even though there were various other assaults by the United States in Nicaragua throughout this period.
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. [92]
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]
November 21 - The United States demands reparations from Nicaragua for the killing of Americans. [12] December 1 - The United States ends diplomatic relations with Nicaragua. [13] December 7 - Taft delivers the 1909 State of the Union Address. [14] December 13 - Taft nominates Horace Harmon Lurton to the Supreme Court of the United States.
Sinan Kuneralp, author of "Ottoman Diplomatic and Consular Personnel in the United States of America, 1867–1917," wrote that the empire initially apparently lacked "any sensible justification" to open a mission stateside due to the relative distance between the countries. [8]
Since the 19th century, the United States government has participated and interfered, both overtly and covertly, in the replacement of many foreign governments. In the latter half of the 19th century, the U.S. government initiated actions for regime change mainly in Latin America and the southwest Pacific, including the Spanish–American and Philippine–American wars.
The 19th century saw the United States transition from an isolationist, post-colonial regional power to a Trans-Atlantic and Trans-Pacific power. From 1790 to 1797, the U.S. Revenue Marine served as the United States' only armed maritime service, tasked with enforcing export duties, and was the predecessor to the United States Coast Guard.