Panama Canal & Roosevelt Corollary vs. Taft Dollar Diplomacy

1. By: Maria A., Nicole B., Anushka D., Sonali P.,Korede Y. Panama Canal & Roosevelt Corollary vs. Taft Dollar Diplomacy

2. U.S. Interest In A Canal *Wanted faster way to travel between Atlantic and Pacific oceans • Panama: • New Granada (present day Panama and Colombia) gave US rights across the Isthmus of Panama • In turn, New Granada was granted neutrality and sovereignty • Nicaragua: • US and Britain both wanted a canal in Nicaragua • Their arguments over Nicaragua ended with a treaty, saying that no one could have exclusive rights over the canal • After Spanish-American War, US won territory in Pacific and Caribbean, so it could build a canal • 1901- US and Britain make an agreement, allowing US to build an isthmian canal A.D.

3. French Attempts For Panama Canal • French company tried to build a canal across the Isthmus of Panama • Poor planning, disease, construction troubles • went bankrupt and could not continue • US bought rights to the canal from France •  1903- treaty was drafted but Columbians would not sign A.D.

4. Revolution • Meanwhile, Panamanians wanted to gain their freedom •   Saw US attempts for a canal as a good economic opportunity •   Began a rebellion which Roosevelt supported •   US even sent an American warship to support Panama •   After Columbia recognized Panama’s independence, US gained complete access to build a canal A.D.

5. Building The Panama Canal Background: • On November 4, 1903, the Panamanian rebels successfully declared independence without shedding any blood • Began building in May 1904 • August 1914 the Panama Canal was completed • The SS Ancon was the first ship to officially pass through the Panama Canal • The Panama Canal when completed, had a 50 mile path • Economic: • Over 10% of the U.S. exports and imports go through the Panama Canal • This allows Americans to get the products in demand and U.S. workers making products to maintain their jobs. • It is cheaper to go through the Canal than to export products • Rather than going around different countries, individuals can cut through Panama. N.B.

6. Building The Panama Canal Social: • About 30,000 workers die mostly because of the yellow fever and malaria • 44,000 workers worked on building the Panama Canal at a time • discovered that yellow fever and malaria comes from mosquitoes • Because of the canal William C. Gorgas was put in charge of sanitizing the Panama Canal site and discovered that yellow fever and malaria comes from mosquitoes. • He drained the ponds and swamps and used fumigated mosquito netting, which prevented sicknesses. Political:Built under President Theodore Roosevelt N.B.

7. Roosevelt Corollary • “Chronic wrongdoing. . . in the Western Hemisphere. . . may force the United States, however reluctantly, . . . to the exercise of an international police power.”--Theodore Roosevelt, 1904 K.Y.

8. Roosevelt Corollary • Significance: • Took the Monroe Doctrine a step further • Further reiterated Roosevelt’s opinion towards foreign policy, “speak softly and carry  a big stick” • Justified American intervention in Latin America Dominican Republic, Nicaragua, Haiti, Mexico Background: • During that time Europe invested money in South America and some countries could not repay their debts • For example, December 13, 1902 Venezuela was attacked by ships from Germany , England and Italy *Similar interventions in Haiti and Nicaragua *Dominican Republic-financial supervision (1905-41) K.Y.

9. Possible Motives of U.S. Involvement In Latin America • Defense • Idealism • Economics K.Y.

10. Taft Dollar Diplomacy William Howard Taft: • 27th President of the United States • Served from 1909-1913 • Dollar Diplomacy: A policy of promoting American economic interests in other countries and using that economic power to achieve American policy goals. S.P.

11. Taft Dollar Diplomacy Purpose • To improve American businesses which would lead to the growth of the economy—implemented to seek a profit • To strengthen America financially and commercially • Taft encouraged investors to invest in foreign markets (mostly Latin America and Far East) to increase America’s influence abroad • Investing in foreign economies means more allies for the United States-Improves foreign relations • Taft believed the dollar diplomacy substituted “dollars for bullets”: An effective way of promoting peaceful foreign relations (No war) S.P.

12. Taft Dollar Diplomacy • One goal was to prevent foreign nations from gaining investment foothold in large markets (America wanted to dominate key global markets) • One important focus of Dollar Diplomacy: Manchurian region of China—Japan and Russia controlled railroads in this region, and Taft wanted to prevent Japan and Russia from taking control of it and colonizing the area • Taft’s offer to the Japanese and Russians: that American bankers would purchase the Manchurian railroads and return them to Chinese control. • Japan and Russia refused Taft’s proposal S.P.

13. Roosevelt Corollary vs. Taft Dollar Diplomacy • Both were expansionist ideas that turned imperialistic • The Roosevelt Corollary justified any military interventions in Latin America’s affairs, whether welcome or not • This tough approach strained relations with the rest of the world M.A.

14. Roosevelt Corollary vs. Taft Dollar Diplomacy • Using the Monroe Doctrine, Taft forbade European investors from entering Latin American markets. • This allowed the U.S. to control the markets. • His passive approach failed since there was economic instability in many countries. M.A.

15. Works Cited “About Major General William C. Gorgas ." Mobile County Health Department. N.p., n.d. Web. 23 Sep 2012. "Economic Importance." Central America Panama Canal. Center for Educational Technologies, n.d. Web. 23 Sep 2012. <http:// www.cotf.edu/earthinfo/camerica/panama/PCtopic4.html>. "Foreign Affairs under Taft: Dollar Diplomacy." United States History. N.p., n.d. Web. 19 Sep 2012. <http://www.u-s-history.com/ pages/h999.html>. "Taft and Wilson-Dollar Diplomacy." AP Study Notes. N.p., n.d. Web. 19 Sep 2012. <http://www.apstudynotes.org/us-history/topics/taft- and-wilson/>. "The Nation At War.” Pearson, n.d. Web. 19 Sep 2012. <https:// docs.google.com/viewer? a=v&q=cache:bAanRcUQOU4J:wps.pearsoncustom.com/>. S.P.

16. Works Cited "The Taft Presidency:1909-1912." Sparknotes. N.p., n.d. Web. 19 Sep 2012. <http://www.sparknotes.com/history/american/gildedage/ section10.rhtml>. "U.S. Interest in a Canal." Infoplease. The Columbia Electronic Encyclopedia, n.d. Web. 23 Sep 2012. <http:// www.infoplease.com/ce6/world/A0860214.html>. S.P.