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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]
In 1914 the war was so unexpected that no one had formulated long-term goals. An ad-hoc meeting of the French and British ambassadors with the Russian Foreign Minister in early September led to a statement of war aims that was not official, but did represent ideas circulating among diplomats in St. Petersburg, Paris, and London, as well as the secondary allies of Belgium, Serbia, and Montenegro.
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]
The Deluge: The Great War, America and the Remaking of the Global Order, 1916-1931 (2014) audio; emphasis on economics; Tucker, Robert W. Woodrow Wilson and the Great War: Reconsidering America's Neutrality (U of Virginia Press, 2007). Venzon, Anne ed. The United States in the First World War: An Encyclopedia (1995), Very thorough coverage.
Various studies portray him as a Cold War liberal, or a liberal Cold Warrior, or come up with pithy phrases to summarize the man and his foreign policy. [ 171 ] The Containment policy meant fighting communist expansion where ever it occurred, and the Communists aimed where the American allies were weakest.
The A to Z of U.S. Diplomacy from World War I through World War II (2010) excerpt and text search; Herring, George. From Colony to Superpower: U.S. Foreign Relations since 1776 (Oxford History of the United States) (2008), 1056pp excerpt, a standard scholarly history; also published in updated two volume edition in 2017
This announcement has been described as the policy of "speaking softly but carrying a big stick", and consequently launched a period of "big stick" diplomacy, in contrast with later Dollar Diplomacy. [8] Roosevelt's approach was more controversial among isolationist-pacifists in the U.S.
The US and Latin America: Eisenhower, Kennedy and Economic Diplomacy in the Cold War (Bloomsbury, 2015). Smith, Joseph. The United States and Latin America: A History of American Diplomacy, 1776–2000 (Routledge, 2005). Smith, Joseph. Illusions of Conflict: Anglo-American Diplomacy Toward Latin America, 1865–1896 (U of Pittsburgh Press, 1979).