USA HISTORY

AMERICAN IMPERIALISM(1890 1919)

AMERICAN IMPERIALISM

[SOURCES]
What best defines Dollar Diplomacy?

(A) The ability to make friends with money

(B) ** U.S could intervene to protect American business

(C) The U.S and Europe deciding to have the same currency

(D) Wealthy families give money to charities

EXPLANATIONS BELOW

Concept note-1: -Dollar Diplomacy, foreign policy created by U.S. Pres. William Howard Taft (served 1909–13) and his secretary of state, Philander C. Knox, to ensure the financial stability of a region while protecting and extending U.S. commercial and financial interests there.

Concept note-2: -Dollar Diplomacy, 1909–1913 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.

Concept note-3: -The US Government felt obligated, through dollar diplomacy, to uphold economic and political stability. Taft’s dollar diplomacy not only allowed the United States to gain financially from countries but also restrained other foreign countries from reaping any sort of financial gain.

Concept note-4: -U.S. interference in Nicaragua, China, and Mexico in order to protect American interests are examples of dollar diplomacy in action.