Dollar Diplomacy by Force


Book Description

In the early twentieth century, the United States set out to guarantee economic and political stability in the Caribbean without intrusive and controversial military interventions—and ended up achieving exactly the opposite. Using military and government records from the United States and the Dominican Republic, this work investigates the extent to which early twentieth-century U.S. involvement in the Dominican Republic fundamentally changed both Dominican history and the conduct of U.S. foreign policy. Successive U.S. interventions based on a policy of "dollar diplomacy" led to military occupation and contributed to a drastic shifting of the Dominican social order, as well as centralized state military power, which Rafael Trujillo leveraged in his 1920s rise to dictatorship. Ultimately, this book demonstrates that the overthrow of the social order resulted not from military planning but from the interplay between uncoordinated interventions in Dominican society and Dominican responses. Telling a neglected story of occupation and resistance, Ellen D. Tillman documents the troubled efforts of the U.S. government to break down the Dominican Republic and remake it from the ground up, providing fresh insight into the motivations and limitations of occupation.




Intervention and Dollar Diplomacy in the Caribbean, 1900-1921


Book Description

The commonly held view that the interests of American business dominated U.S. foreign policy in the Caribbean during the early part of this century is challenged by Dana G. Munro, prominent scholar and former State Department official. He argues that the basic purpose of U.S. policy was to create in Latin America political and economic stability so that disorder and failure to meet foreign obligations there would not imperil the security of the United States. The U.S. government increasingly intervened in the internal affairs of the Central American and West Indian republics when it felt that their stability was threatened. This policy culminated in the military occupation of Haiti and the Dominican Republic and varying degrees of control in other countries. Originally published in 1964. The Princeton Legacy Library uses the latest print-on-demand technology to again make available previously out-of-print books from the distinguished backlist of Princeton University Press. These editions preserve the original texts of these important books while presenting them in durable paperback and hardcover editions. The goal of the Princeton Legacy Library is to vastly increase access to the rich scholarly heritage found in the thousands of books published by Princeton University Press since its founding in 1905.




Financial Missionaries to the World


Book Description

Winner of the Society for Historians of American Foreign Relations Robert H. Ferrell Book Prize Financial Missionaries to the World establishes the broad scope and significance of "dollar diplomacy"—the use of international lending and advising—to early-twentieth-century U.S. foreign policy. Combining diplomatic, economic, and cultural history, the distinguished historian Emily S. Rosenberg shows how private bank loans were extended to leverage the acceptance of American financial advisers by foreign governments. In an analysis striking in its relevance to contemporary debates over international loans, she reveals how a practice initially justified as a progressive means to extend “civilization” by promoting economic stability and progress became embroiled in controversy. Vocal critics at home and abroad charged that American loans and financial oversight constituted a new imperialism that fostered exploitation of less powerful nations. By the mid-1920s, Rosenberg explains, even early supporters of dollar diplomacy worried that by facilitating excessive borrowing, the practice might induce the very instability and default that it supposedly worked against. "[A] major and superb contribution to the history of U.S. foreign relations. . . . [Emily S. Rosenberg] has opened up a whole new research field in international history."—Anders Stephanson, Journal of American History "[A] landmark in the historiography of American foreign relations."—Melvyn P. Leffler, author of A Preponderence of Power: National Security, the Truman Administration, and the Cold War "Fascinating."—Christopher Clark, Times Literary Supplement




A World Safe for Capitalism


Book Description

This award-winning book provides a unique window on how America began to intervene in world affairs. In exploring what might be called the prehistory of Dollar Diplomacy, Cyrus Veeser brings together developments in New York, Washington, Santo Domingo, Brussels, and London. Theodore Roosevelt plays a leading role in the story as do State Department officials, Caribbean rulers, Democratic party leaders, bankers, economists, international lawyers, sugar planters, and European bondholders, among others. The book recounts a little-known incident: the takeover by the Santo Domingo Improvement Company (SDIC) of the foreign debt, national railroad, and national bank of the Dominican Republic. The inevitable conflict between private interest and public policy led President Roosevelt to launch a sweeping new policy that became known as the Roosevelt corollary to the Monroe Doctrine. The corollary gave the U. S. the right to intervene anywhere in Latin American that "wrongdoing or impotence" (in T. R.'s words) threatened "civilized society." The "wrongdoer" in this case was the SDIC. Imposing government control over corporations was launched and became a hallmark of domestic policy. By proposing an economic remedy to a political problem, the book anticipates policies embodied in the Marshall Plan, the International Monetary Fund, and the World Bank.




Dollar Diplomacy


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Sterling-dollar Diplomacy


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The United States and Latin America


Book Description

Providing a concise, balanced and incisive analysis of US diplomatic relations with Latin America from 1776 to the end of the twentieth century, this timely work explores central themes such as the structure of international relations, and the pursuit of American national interest by the use of diplomacy, cultural imperialism and economic and military power. Joseph Smith examines: * the rise of the USA as an independent power * its policy towards Latin-American movements for independence * the evolution of the Monroe Doctrine * pan-Americanism * dollar diplomacy * the challenge of communism. Highlighting Latin American responses to US policy over a significant time span, the study documents the development of a complex historical relationship in which the United States has claimed a pre-eminent role, arousing as much resentment as acquiescence from its southern neighbours. Including a timely discussion of the current issues of debt, trade and narcotics control, this unique and valuable study will be of interest to all those with an interest in US and Latin American international relations.







NSC 68 and the Political Economy of the Early Cold War


Book Description

NSC 68 and the Political Economy of the Early Cold War re-examines the origins and implementation of NSC 68, the massive rearmament program that the United States embarked upon beginning in the summer of 1950. Curt Cardwell reinterprets the origins of NSC 68 to demonstrate that the aim of the program was less about containing communism than ensuring the survival of the nascent postwar global economy, upon which rested postwar US prosperity. The book challenges most studies on NSC 68 as a document of geostrategy and argues instead that it is more correctly understood as a document rooted in concerns for the US domestic political economy.




Confronting the American Dream


Book Description

Michel Gobat deftly interweaves political, economic, cultural, and diplomatic history to analyze the reactions of Nicaraguans to U.S. intervention in their country from the heyday of Manifest Destiny in the mid–nineteenth century through the U.S. occupation of 1912–33. Drawing on extensive research in Nicaraguan and U.S. archives, Gobat accounts for two seeming paradoxes that have long eluded historians of Latin America: that Nicaraguans so strongly embraced U.S. political, economic, and cultural forms to defend their own nationality against U.S. imposition and that the country’s wealthiest and most Americanized elites were transformed from leading supporters of U.S. imperial rule into some of its greatest opponents. Gobat focuses primarily on the reactions of the elites to Americanization, because the power and identity of these Nicaraguans were the most significantly affected by U.S. imperial rule. He describes their adoption of aspects of “the American way of life” in the mid–nineteenth century as strategic rather than wholesale. Chronicling the U.S. occupation of 1912–33, he argues that the anti-American turn of Nicaragua’s most Americanized oligarchs stemmed largely from the efforts of U.S. bankers, marines, and missionaries to spread their own version of the American dream. In part, the oligarchs’ reversal reflected their anguish over the 1920s rise of Protestantism, the “modern woman,” and other “vices of modernity” emanating from the United States. But it also responded to the unintended ways that U.S. modernization efforts enabled peasants to weaken landlord power. Gobat demonstrates that the U.S. occupation so profoundly affected Nicaragua that it helped engender the Sandino Rebellion of 1927–33, the Somoza dictatorship of 1936–79, and the Sandinista Revolution of 1979–90.