Dollar diplomacy was an extension of the Roosevelt Corollary in the sense that Roosevelt tried to eliminate European
Dollar diplomacy was an extension of the Roosevelt Corollary in the sense that Roosevelt tried to eliminate European
Dollar diplomacy was an extension of the Roosevelt Corollary in the sense that Roosevelt tried to eliminate European
Dollar diplomacy was an extension of the Roosevelt Corollary in the sense that Roosevelt tried to eliminate European
He used and expanded on the Roosevelt Corollary, which allowed the US to interfere with the business of other nations if they were "politically or financially unstable." He justified his protecting Panama Canal with this. The dollar diplomacy was the term given to his policy of guaranteeing loans made to foreign countries.
Roosevelt
Theodore Roosevelt
Roosevelt, in his corollary to the Monroe Doctrine, stated we must "Speak Softly and Carry a Big Stick." Basically, this means that we must negotiate diplomatically but be ready to use force (a stick) when necessary while negotiating with foreign powers.
The Roosevelt Corollary protected economic interests.
Roosevelt's Corollary was an addition to the Monroe Doctrine that declared the United States could intervene, or use military force to keep peace, in Latin American countries when necessary. Dollar Diplomacy focused on business. Taft believed the United States should invest in other countries to maintain and increase its power. Wall street bankers backed loans made by US business to foreign countries. Basically, Roosevelt's "big stick" was military and Taft's "big stick" was business.
The Roosevelt Corollary was mainly aimed towards the Europeans that were intervening with affairs in the Americas.
When the Roosevelt Corollary was issued, it amended the Monroe Doctrine.