William Taft
WILLIAM HOWARD TAFT AND DOLLAR DIPLOMACY
- Roosevelt's successor, William Taft (1909-1913), did not carry a big stick
- Taft adopted a foreign policy that was mildly expansionist but depended more on investors' dollars than on the navy's battleships
- Taft's policy of trying to promote U.S. trade by supporting American enterprises abroad was given the name dollar diplomacy
DOLLAR DIPLOMACY IN EAST ASIA AND LATIN AMERICA
- Taft believed that private American financial investment in China & the nations of Central America would lead to greater stability there, while at the same time promoting U.S. business interests
- Taft's policy was thwarted by one major obstacle: growing anti-imperialism both in the U.S. & overseas
RAILROADS IN CHINA
- Taft wanted U.S. bankers to be included in a British, French, and German plan to invest in railroads in China & Taft succeeded in securing
American participation in an agreement signed in 1911
-In the northern province of Manchuria, however, the U.S., was excluded from an agreement between Russia & Japan to build railroads there
-In direct defiance of the U.S. Open Door policy, Russian & Japan agreed to treat Manchuria as a jointly held sphere of influence
INTERVENTION IN NICARAGUA
- To protect U.S. investments, theU.S. intervened in Nicaragua's financial affairs in 1911, & sent in marines when a civil war broke out in 1912
- The marines remained, except for a short period, until 1933
THE LODGE COROLLARY
-Henry Cabot Lodge, a Republican senator from Massachusetts, was responsible for another action that alienated both Latin America & Japan
- A group of Japanese investors wanted to buy a large part of Mexico's Baja Peninsula, extending south of California
- Fearing that Japan's gov't might be secretly scheming to acquire the land, the Senate in 1912 passed a resolution known as the Lodge Corollary to the Monroe Doctrine that said non-European powers such as Japan would be excluded
- Roosevelt's successor, William Taft (1909-1913), did not carry a big stick
- Taft adopted a foreign policy that was mildly expansionist but depended more on investors' dollars than on the navy's battleships
- Taft's policy of trying to promote U.S. trade by supporting American enterprises abroad was given the name dollar diplomacy
DOLLAR DIPLOMACY IN EAST ASIA AND LATIN AMERICA
- Taft believed that private American financial investment in China & the nations of Central America would lead to greater stability there, while at the same time promoting U.S. business interests
- Taft's policy was thwarted by one major obstacle: growing anti-imperialism both in the U.S. & overseas
RAILROADS IN CHINA
- Taft wanted U.S. bankers to be included in a British, French, and German plan to invest in railroads in China & Taft succeeded in securing
American participation in an agreement signed in 1911
-In the northern province of Manchuria, however, the U.S., was excluded from an agreement between Russia & Japan to build railroads there
-In direct defiance of the U.S. Open Door policy, Russian & Japan agreed to treat Manchuria as a jointly held sphere of influence
INTERVENTION IN NICARAGUA
- To protect U.S. investments, theU.S. intervened in Nicaragua's financial affairs in 1911, & sent in marines when a civil war broke out in 1912
- The marines remained, except for a short period, until 1933
THE LODGE COROLLARY
-Henry Cabot Lodge, a Republican senator from Massachusetts, was responsible for another action that alienated both Latin America & Japan
- A group of Japanese investors wanted to buy a large part of Mexico's Baja Peninsula, extending south of California
- Fearing that Japan's gov't might be secretly scheming to acquire the land, the Senate in 1912 passed a resolution known as the Lodge Corollary to the Monroe Doctrine that said non-European powers such as Japan would be excluded