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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]
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 ...
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]
He would eventually serve as the 31st United States Secretary of War and the 34th United States Attorney General. [4] Subsequent to serving in those positions, Taft also served as United States Minister to Austria-Hungary, being appointed to this position in 1882 and in 1884, serving as United States Minister to Russia until 1885. Wikilinks
William Howard Taft (September 15, 1857 – March 8, 1930) was the 27th president of the United States, serving from 1909 to 1913, and the tenth chief justice of the United States, serving from 1921 to 1930. He is the only person to have held both offices.
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:
The longshoremen’s strike that bottled up U.S. ports from Maine to Texas has put Joe Biden in a tough political spot five weeks out from the presidential election.
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.