Adriana's Dollar Diplomacy
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Vocabulary Section

Vocabulary Section | Adriana's Dollar Diplomacy | Scoop.it

1.Dollar Diplomacy- economic policy used in Latin America to provide loans to nations for their loyalty instead of threatening military intervention.
- While “dollar diplomacy” has encumbered my mind and thoughts for the last week, there are many other troubling concerns affecting the future of populations in various CARICOM and OECS nations.

 

2.Coeraon - The practice of persuading someone to do something by using force or threats
- it wasn't slavery because no coercion was used

 

3. Sanction - A threatened penalty for disobeying a law or rule
- a range of sanctions aimed at deterring insider abuse

 

4. Sovereignty - The authority of a state to govern itself or another state
- how can we hope to wrest sovereignty away from the oligarchy and back to the people

 

5. Political - Of or relating to the government or the public affairs of a country
- a period of political and economic stability

 

6. Dollarization - The process of aligning a country's currency with the US dollar
-Dollarization occurs when the inhabitants of a country use foreign currency in parallel to or instead of the domestic currency.

 

7.Noncombatants - military and legal term describing civilians not engaged in combat.

 

8. Enterprises - A project or undertaking, typically one that is difficult or requires effort

-a joint enterprise between French and Japanese companies

 

9. inconsistency - The fact or state of being inconsistent.

- inconsistency between his expressed attitudes and his actual behavior

 

10. Representatives - A person chosen or appointed to act or speak for another or others, in particular
- fossil representatives of lampreys and hagfishes

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About U.S. Imperialism and The Dollar Diplomacy

William Taft often used dollar diplomacy to protest American capitalism of American businessmen, to help American business grow. Dollar Diplomacy; economic policy used in Latin America to provide loans to nations for their loyalty instead of threatening military intervention. In Latin American and surrounding countries dollar diplomacy had a positive and negative effect on world trade. For instance in Latin American there were bands placed on dollar diplomacy. Due to the Panama Canal U.S. exports increase rapidly. Since the Panama Canal was build profitable investments were being made by trading, making it easier for countries to trade with each other. Because of the U.S. signing a treaty with Nicaragua it set an agreement, wherein the USA was allowed to refund the foreign debts of Nicaragua. In return, the USA received majority stake in the National Bank of Nicaragua and the state railways making American in charge of majority of railroads. The maker of dollar diplomacy, Taft use government officials to encourage the sale of American products overseas, especially heavy industrial goods and military hardware. To promote this foreign policy, the U.S military was a key tool in economic diplomacy. Taft has called on Congress to coordinate all loans to Latin American countries in order to support improvement of infrastructure. The movement of dollar diplomacy had a positive effect on trade, and many countries.

 

There were also negative outcomes because of dollar diplomacy on some countries. Honduras, Nicaragua, Caribbean, Hati, and China didn’t want to be involved in with the United States an the movement of dollar diplomacy, only political people did. Dollar Diplomacy provided a vehicle for U.S sovereignty over the Dollar Dominican Republic and other areas of the Caribbean, substituting “dollars for bullets.” The U.S. projected its power into these areas, seeking to reshape and develop regional Latin American polities into capitalistic, Democratic nations in the American image. This laboratory, experimenting with power and economic development, would forge new American foreign policy directions, its echoes today shaping contemporary nation building projects in places like Iraq and Afghanistan. While dollar diplomacy was meant to make money for the US while establishing stability in the invested countries, it did not really work out that way. While most of the money invested was in the form of loans, the US would not want these loans paid off, because that would lead to economic independence for the countries that were supposed to make money. But since the US was consequently the principal moneylender, also meant that they were responsible for taking care of any trouble in Latin America.

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Primary Document #3: WILLIAM HOWARD TAFT: Dollar Diplomacy by William Howard Taft

The foreign relations of the United States actually and potentially affect the state of the Union to a degree not widely realized and hardly surpassed by any other factor in the welfare of the whole nation....

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Historical Topic #3

Historical Topic #3 | Adriana's Dollar Diplomacy | Scoop.it

"The diplomacy of the present administration has sought to respond to modern ideas of commercial intercourse. This policy has been characterized as substituting dollars for bullets. It is one that appeals alike to idealistic humanitarian sentiments, to the dictates of sound policy and strategy, and to legitimate commercial aims."...

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Website on Historical Topic #2: Imperialism: Dollar Diplomacy

Website on Historical Topic #2: Imperialism: Dollar Diplomacy | Adriana's Dollar Diplomacy | Scoop.it

The dollar diplomacy was lead by President William Howard Taft who started out as Teddy roosevelts Secretary of War...

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Website on Historical Topic #1: Dollar Diplomacy - Wikipedia, the free encyclopedia

Website on Historical Topic #1: Dollar Diplomacy - Wikipedia, the free encyclopedia | Adriana's Dollar Diplomacy | Scoop.it

Wikipedia article on Dollar Diplomacy

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