HIST 2340W Lecture Notes - Lecture 7: Dollar Diplomacy, Conditionality, Sun Yat-Sen
Document Summary
Us looking to raise capital for railroads, allowing for great investment banks to be born. Loans being made to germany, japan, etc. Taft increased this cooperation, extending into realm of foreign policy. Served as governor of philippines, becomes interested in nation building and development. Appointed secretary of state by roosevelt, becomes roosevelt"s hand picked successor eventually ideologies change drastically. This policy has been characterized as substituting dollars for bullets . Advocated for involvement in international affairs, a moral obligation to pursue foreign policy. Modern diplomacy will be based on commerce. Benefits: increased trade, us can prevent military intervention by helping countries in western hemisphere to repay debts, excludes human casualties. Roosevelt claimed he was about spreading civilization, but you can"t spread that out of the barrel of a gun, taft believes in a more peaceful way to do that. A more modern type of diplomacy, much greater potential to reshape world without making the us look like a bully.
