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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]
When Woodrow Wilson became president in March 1913, he immediately canceled all support for Dollar diplomacy. Historians agree that Taft's Dollar diplomacy was a failure everywhere, In the Far East it alienated Japan and Russia, and created a deep suspicion among the other powers hostile to American motives. [21] [22]
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]
He was elected to a full five-year term. Some two dozen of Taft's opinions as a state judge survive, the most significant being Moores & Co. v. Bricklayers' Union No. 1 [b] (1889) if only because it was used against him when he ran for president in 1908. The case involved bricklayers who refused to work for any firm that dealt with a company ...
Taft defeated Bryan by a two-to-one (321 to 162) margin in the Electoral College and by a 52% to 43.5% margin in the popular vote. [7] Bryan did worse in 1908 than he did in both 1896 and 1900, carrying only the South, Oklahoma, Colorado, and Nevada (Bryan also won 6 of 8 electors in Maryland while losing the state to Taft by less than 0.30%). [7]
However, 36 more conservative states did not hold primaries, but instead selected delegates via state conventions. For years Roosevelt had tried to attract Southern white Democrats to the Republican Party, and he tried to win delegates there in 1912. However, Taft had the support of black Republicans in the South, and defeated Roosevelt there. [1]
For the first time in inauguration history, the incoming First Lady (in this case Helen Herron Taft) joined her husband in leading the parade from the Capitol to the White House. Probably during the parade, the choral march "Our Country" by Arthur Whiting was played. [3] An inaugural ball that evening was held at the Pension Building.
Bryan won Texas by a landslide margin of 51.62%. Bryan had previously won Texas against William McKinley in both 1896 and 1900 . With 73.97 percent of the popular vote, Texas would also prove to be Bryan's fourth strongest victory in terms of percentage in the popular vote only after South Carolina , Mississippi and Louisiana .