USA HISTORY

Detailed explanation-1: -President Taft was more committed to the expansion of U.S. foreign trade than was Roosevelt. He pursued a program, known as “dollar diplomacy, ” designed to encourage U.S. investments in South and Central American, the Caribbean, and the Far East.

Detailed explanation-2: -Dollar Diplomacy, 1909–1913 From 1909 to 1913, President William Howard Taft and Secretary of State Philander C. Knox followed a foreign policy characterized as “dollar diplomacy.”

Detailed explanation-3: -From 1909 to 1913, President William Howard Taft and Secretary of State Philander C. Knox followed a foreign policy characterized as “dollar diplomacy". It was a policy whereby American influence would be exerted primarily by American banks and financial interests, supported in part by diplomats.

Detailed explanation-4: -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 ([link]).