U.S. Imperialism; Dollar Diplomacy
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Website #3 during the time period we are studying : Office of the Historian - Milestones - 1899-1913 - Dollar Diplomacy

Website #3 during the time period we are studying : Office of the Historian - Milestones - 1899-1913 - Dollar Diplomacy | U.S. Imperialism; Dollar Diplomacy | Scoop.it

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. n China, Knox secured the entry of an American banking conglomerate, headed by J.P. Morgan, into a European-financed consortium financing the construction of a railway from Huguang to Canton. In spite of successes, "dollar diplomacy" failed to counteract economic instability and the tide of revolution in places like Mexico, the Dominican Republic, Nicaragua, and China.

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Website #2during the time period we are studying: Is the US Interested in Exercising Dollar Diplomacy?

Ricardo Hausmann talks about American politics and inferences that could be drawn for congressional attitudes toward possible dollarization in any Latin American countries. Latin American country wanted to dollariz. American congress and public to play an active role in the world had already become evident. The American congress feared the US economy was in decline, particularly compared to Japan and other East Asian countries.

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Website #1(Globally) connect the topic to issues of today: The New Dollar Diplomacy: The Sanctioning of Iran and Syria | Globalization101

Website #1(Globally) connect the topic to issues of today: The New Dollar Diplomacy: The Sanctioning of Iran and Syria | Globalization101 | U.S. Imperialism; Dollar Diplomacy | Scoop.it

This news analysis will take an in-depth look at Iran and Syrian sanctions, and the effect of the embargoes on international diplomacy and coercion. Sanction has been placed on Iran for inriching their nucleur program, which is causing a economic problem for Iran's people. In Syria the problem is complicated by unseen radical groups within the country. Them unseen readical groups makes it hard for the U.S. and other countries to send dollar diplomacy to Syria for fear that no one is in charge.

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Primary Document : Dollar Diplomacy Of U. S. is Still Strongly Felt By Latin Americans

Latin American's understand the importance of big business but would like to keep their sovereignty. They would rather ask for help when needed than to just recieve it. This would keep them from giving the United States Automatic rights to land. Mexico doesn't follow this doctorin because it has not been asked and it feels it will give up to much independence of mexico. Monroe Doctrine declaered at its birth, has violated fundamental rights of several countries offical the continent.

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Primary Document #2: Speech Advocating “Dollar Diplomacy”

Annotation: In this speech from December 3, 1912, President William Howard Taft explains how Ameri- can investments—in railroads, mining, cattle, and export agriculture—can help secure American influ- ence in the Far East and Latin America. In Advocating “Dollar Diplomacy” the United States gives incentivies to other countries for helping themselves in turn other countries they'll show their intrest in their own developement in order to recieve dollar doplomacy (inverstments from other countries).

 

In China the policy of encouraging financial in- vestment to enable that country to help itself has had the result of giving new life and practical appli- cation to the open-door policy. The consistent pur- pose of the present administration has been to encourage the use of American capital in the devel- opment of China by the promotion of those essen- tial reforms to which China is pledged by treaties with the United States and other powers. The hy- pothecation to foreign bankers in connection with certain industrial enterprises, such as the Hukuang railways, of the national revenues upon which these reforms depended, led the Department of State early in the administration to demand for American citirible events recorded there during the revolution of the past summer—the useless loss of life, the dev- astation of property, the bombardment of defense- less cities, the killing and wounding of women and children, the torturing of noncombatants to exact contributions, and the suffering of thousands of hu- man beings—might have been averted had the De- partment of State, through approval of the loan convention by the Senate, been permitted to carry out its now well-developed policy of encouraging the extending of financial aid to weak Central American States with the primary objects of avoiding just such revolutions by assisting those Republics to rehabil- itate their finances, to establish their currency on a stable basis, to remove the customhouses from the danger of revolutions by arranging for their secure administration, and to establish reliable banks.

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Paragraphs: U.S. Imperialism; Dollar Diplomacy

                              U.S. Imperialism; 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. And since the region proved more troublesome than originally thought, America’s goals were not achieved. Through the credit they provided, the US ended up paying for the revolutions, which it was then forced to deal with.

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Vocabulary Words

1.Dollar Diplomacy - 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.

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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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Website #2(Globally)connect the topic to issues of today: Caribbean News Now!: Commentary: Dependency, political inconsistencies and dollar diplomacy are guiding regional development

Website #2(Globally)connect the topic to issues of today: Caribbean News Now!: Commentary: Dependency, political inconsistencies and dollar diplomacy are guiding regional development | U.S. Imperialism; Dollar Diplomacy | Scoop.it

There so much fighting among the people, that its hard for other contries to trust the leadership of the Middle East. That dollar diplomicy is sometimes hard. The continuing economic and political decline in Europe is likely to impact upon us in the near future. China trade agreements may fail. In pakistan leadership is not trusted to not do the right thing with money's giving for nation building.

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Website #1 during the time period we are studying: US foreign policy at the turn of the 20th century, 'big stick diplomacy", "dollar diplomacy", and "moral diplomacy"

This is a video clip about dollar  diplomacy. This video is saying how the U.S. foreign policy at the turn of 20th century was charactarized by the policy of three presidents. Teddy Roosevelt (big stick policy), William Taft (dollar diplomacy) and Woodrow Wilson (moral diplomacy). Teddy Roosevelt intervened to end the war between russia and japan. 

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Primary Document #3: Speech Repudiating “Dollar Diplomacy”

Annotation: In this speech given March 19, 1913, President Woodrow Wilson repudiates Taft’s “dollar diplomacy,” arguing that the conditions of American investments in China “touch very nearly the administrative independence of China itself.” The U.S. needs to know in writing by each government who's in charege of montary diplomacy, otherwise its hard to send them anything.

 

We are informed that at the request of the last administration a certain group of American bankers undertook to participate in the loan now desired by the Government of China (approximately $125,000,000). Our government wished American bankers to participate along with the bankers of other nations, because it desired that the good will of the United States towards China should be exhibited in this practical way, that American capital should have access to that great country, and that the United States should be in a position to share with the other Powers any political responsibilities that might be as- sociated with the development of the foreign rela- tions of China in connection with her industrial and commercial enterprises. The present administration has been asked by this group of bankers whether it would also request them to participate in the loan. The representatives of the bankers through whom the administration was approached declared that they would continue to seek their share of the loan under the proposed agreements only if expressly requested to do so by the government. The administration has declined to make such request because it did not approve the conditions of the loan or the implications of responsibility on its own part which it was plainly told would be involved in the request.

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