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When William Howard Taft became president in 1909, he chose to adapt Roosevelt’s foreign policy philosophy to one that reflected American economic power at the time. In what became known as “ dollar diplomacy,” Taft announced his decision to “substitute dollars for bullets” in an effort to use foreign policy to secure markets and ...
- The Stock Market Crash of 1929
After the crash, Hoover announced that the economy was...
- The Stock Market Crash of 1929
Under the name of Dollar Diplomacy, the Taft administration engineered such a policy in Nicaragua. It supported the overthrow of José Santos Zelaya and set up Adolfo Díaz in his place; it established a collector of customs; and it guaranteed loans to the Nicaraguan government.
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]
In what became known as “ dollar diplomacy,” Taft announced his decision to “substitute dollars for bullets” in an effort to use foreign policy to secure markets and opportunities for American businessmen (Figure 22.18).
In what became known as “dollar diplomacy,” Taft announced his decision to “substitute dollars for bullets” in an effort to use foreign policy to secure markets and opportunities for American businessmen (Figure 22.18).
William Howard Taft. Taft shared the view held by Knox, a corporate lawyer who had founded the giant conglomerate U.S. Steel, that the goal of diplomacy was to create stability and order abroad that would best promote American commercial interests.
2 Αυγ 2021 · Dollar diplomacy refers to the U.S. foreign policy created by President William Howard Taft and Secretary of State Philander C. Knox in 1912. Dollar Diplomacy sought to bolster the struggling economies of Latin American and East Asian countries while also expanding U.S. commercial interests in those regions.
