1. US Foreign policy

2. 2. William Taft (1909-1913) “Dollar Diplomacy”
Following the Spanish-American War, the US began to aggressively pursue an expansionist foreign policy. Now with territories in the Pacific and the Caribbean, the nation could focus it efforts on both protecting existing commercial interests and expanding trade to foreign markets.
There were three US presidents who led the US during this time of territorial and commercial expansion and each furthered their own brand of international relations:
1. Theodore Roosevelt ( ) “Big Stick Diplomacy”
2. William Taft ( ) “Dollar Diplomacy”
3. Woodrow Wilson ( ) “Moral Diplomacy”

3. Roosevelt’s “Big Stick Diplomacy” He used the Monroe Doctrine as support for US intervention in various Latin American nations. * Nicaragua (initial canal preference) * Colombia/Panama (canal building) * Venezuela (debt repayment) * Dominican Republic (debt repayment) * Cuba (Platt Amendment) * Japan (Root-Takahira Treaty) Roosevelt Corollary (1904): essentially turned the US into an “international police power” and gave US right to intervene in order to stabilize the economies of Caribbean and Central American nations if they were unable to pay their European debts. The Monroe Doctrine sought to prevent European powers from creating Latin American empires, the addition of the Roosevelt Corollary announced US intention to take their place.
Theodore Roosevelt

4. Great white fleet Successes and Failures of “Big Stick”
Numerous “big stick” policies were successful for US, especially in terms of furthering US economic interests
Was successful in brokering numerous peace agreements (Treaty of Portsmouth, Gentlemen’s Agreement)
Helped US gain world influence and power (through both diplomatic and military means)
Aggressive determination in regard to the Panama Canal damaged relations with Latin America

5. William H. taft Taft’s “Dollar Diplomacy”
The goal was the expand US influence by guaranteeing loans made to foreign countries by nations in Latin America and East Asia (in an effort to protect US trade)
$41 million
$93 million
encouraged and supported American bank and industrialist investments
Prevented European powers from profiting
Used in the following countries:
* Panama (protecting the canal)
* Nicaragua (revolt supported by US miners)
* Honduras (debt repayment)
* Haiti (debt repayment)
* Dominican Republic (debt repayment)
* Mexico (promote economic stability)
* China (promote economic stability)
William H. taft

6. Successes and Failures of “Dollar Diplomacy”
Gained the US short-term allies
Strengthened the US economy through American foreign investment
Allowed US to gain position of influence in numerous emerging global markets
Created long-term animosity throughout Latin America (“dollar diplomacy” became so closely associated with unpopular regimes, corporations and banks that it caused Wilson to attempt to completely reverse the tactic upon taking office)

7. Wilson’s “Moral Diplomacy” As Wilson viewed the US as the most “moral” of all nations, the goal was to support like-minded democratic countries and economically hurt countries seen as threats to US and democracy worldwide. “Dollar diplomacy” was based on economic support, but “moral diplomacy” was based on economic power. Used in the following nations: * Mexico (Mexican Revolution) * Haiti (Haitian presidential elections) * Dominican Republic (debt repayment) * Panama (protecting the canal) * Turkey (mining, irrigation and railroads) * China (railroad in Manchuria) * Nicaragua (debt repayment)
Woodrow Wilson

8. Successes and Failures of “Moral Diplomacy”
His administration negotiated arbitration agreements with over 30 nations to keep peace
Despite his intentions to stabilize Latin America and the Caribbean with minimal involvement, he intervened in regional affairs more than any other president
Sent troops to Nicaragua, Haiti and the Dominican Republic (created a military presence in the area that lasted for decades)
Didn’t take into account the near- impossibility of trying to graft US–style democracy/capitalism on to a country with its own culture and customs
Received a hostile reception from foreign nations