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Dollar Diplomacy, 1909–1913From 1909 to 1913, President William Howard Taft and Secretary of State Philander C. Knox followed a foreign policy characterized as “dollar diplomacy.”  William Howard Taft 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. Knox felt that not only was the goal of diplomacy to improve financial opportunities, but also to use private capital to further U.S. interests overseas. “Dollar diplomacy” was evident in extensive U.S. interventions in the Caribbean and Central America, especially in measures undertaken to safeguard American financial interests in the region. In 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. Recommended textbook solutionsU.S. History1st EditionJohn Lund, Paul S. Vickery, P. Scott Corbett, Todd Pfannestiel, Volker Janssen 567 solutions America's History for the AP Course9th EditionEric Hinderaker, James A. Henretta, Rebecca Edwards, Robert O. Self 961 solutions
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America's History for the AP Course8th EditionEric Hinderaker, James A. Henretta, Rebecca Edwards, Robert O. Self 470 solutions What does Seward's Folly refer to quizlet?Seward's Folly. Refers to the purchase of Alaska from Russia in 1867. Alaska was considered a waste land rand that it was a foolish purchase.
What reason did Wilson give for proposing tariff reform?Wilson focused first on tariff reform, pushing through Congress the Underwood-Simmons Act, which achieved the most significant reductions in rates since the Civil War. He argued that high tariffs created monopolies and hurt consumers, and his lower tariffs were especially popular in the South and West.
Which of the following was not part of the good government movement of the Progressive Era?were very successful in changing society. Which of the following was not part of the "good government" movement of the Progressive Era? American socialists did not advocate for government ownership of businesses.
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Was President Tafts use of State Department to help American companies and banks invest in foreign countries quizlet?
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