22.5 Taft's "Dollar Diplomacy"
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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
When William Howard Taft became president in 1909, he chose to
adapt Roosevelt's foreign policy philosophy to one that reflected American economic power at the time
Taft used the threat of American economic clout to
coerce countries into agreements to benefit the United States.
As Taft's presidency came to a close in early 1913, the United States was firmly entrenched on its path towards
empire
The world perceived the United States as the predominant power of the WesternHemisphere—a perception that few nations would challenge until
the Soviet Union during the Cold War era
