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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]
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]
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 ...
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.
William Howard Taft (September 15, 1857 – March 8, 1930) was the 27th president of the United States and the tenth chief justice of the United States, the only person to have held both offices. Taft was elected president in 1908 as a Republican and defeated for reelection in 1912 by Democratic nominee Woodrow Wilson in a three-way race that ...
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.
The Latin American Policy of the United States. (1943) pp 168–201 online; Boghardt, Thomas. The Zimmermann telegram: intelligence, diplomacy, and America's entry into World War I (Naval Institute Press, 2012). De Quesada, Alejandro. The Hunt for Pancho Villa: The Columbus Raid and Pershing's Punitive Expedition 1916–17 (Bloomsbury, 2012).
In 1909, President William Howard Taft appointed Knox to the position of United States Secretary of State. From that post, Knox reorganized the State Department and pursued dollar diplomacy, which focused on encouraging and protecting U.S. investments abroad. Knox returned to private practice in 1913 after Taft lost re-election.