How does President Taft‘a dollar diplomacy phrase compare to president Roosevelt
President Taft's dollar diplomacy and President Roosevelt's policies were similar in their aim to increase US economic and political influence globally, but they differed in their approaches to achieving these goals.
President Roosevelt's foreign policy, known as the "Big Stick" policy, focused on asserting US power and influence through military intervention. He believed in using force and a strong military presence to protect American interests, especially in Latin America. Roosevelt's policies included the construction of the Panama Canal, the Roosevelt Corollary to the Monroe Doctrine, and the Great White Fleet naval deployment.
On the other hand, President Taft's dollar diplomacy emphasized economic diplomacy and increased US investment in foreign countries. Taft believed that using economic leverage, through loans and investments, could secure US influence and help other nations develop economically. The goal was to promote stability, enhance American commercial interests, and also avoid direct military intervention whenever possible. The hallmark of Taft's dollar diplomacy was the establishment of the Dollar Diplomacy Loan Program, which aimed to provide financial assistance to countries in need.
While both Roosevelt and Taft sought to expand US influence abroad, Roosevelt used military power more assertively, whereas Taft focused on economic influence.