B. Teddy Roosevelt and the World 1.Japan & Russia fight over Korea 2.TR negotiates peace agreement 3.Earns him Nobel Peace Prize 1906 4.TR builds The Great White Fleet 5. Japan follow suits
C. Hay-Pauncefote Treaty US has exclusive rights to build canal in Central America
D. Panama Canal 1.Benefits a.Save time, fuel, and money b.Commercial and militarily 2.Nicaragua or Panama? 3.Nicaragua Easy terrain but very wide 4.Panama More narrow but very mountainous 5. France had already begun in Panama
D. Panama Canal 1.Problem: Panama controlled by Columbia 2.TR supports rebellion of Panama against Columbia = sends in the Great White Fleet 3.Panama gains independence
Panama Canal 1904-1914 $380 million Paid Columbia $25 million for its loss Relationship with Latin America worsen
Roosevelt Corollary to the Monroe Doctrine US to act as an international police Goal: stop European powers from using the debt problems of LA to justify intervening in the region M.D. = European countries will not intervene in affairs of Latin America and vice- versa
"Speak softly and carry a big stick, and you will go far."
Dollar Diplomacy Pres. Tafts policy of helping LA countries by encouraging Amer.businesses develop industries in LA Would increase income in both countries