Military Review

"Dollar diplomacy" as an attempt to establish US regional hegemony

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"Dollar diplomacy" as an attempt to establish US regional hegemony
A cartoon of President Taft's "dollar diplomacy".


American imperialism throughout its stories used various techniques in foreign policy: from overt military aggression to financial enslavement. If the negotiations did not give the Americans the desired results, then the intractable counterparties were pressured, containing outright threats, which later ceased to be just words and were embodied either in military operations or in the appropriation of someone else's property.

US foreign policy, pursued by the 27th US President William Taft (1909-1913) and his Secretary of State Philander Knox to ensure political stability in southern North America, while protecting and expanding American commercial and financial interests here, was called "dollar diplomacy" by contemporaries ... The new US administration hoped to convince American private bankers to oust their European competitors from the countries of Central America and the Caribbean and thereby increase American influence and promote stability in the countries of the named region, prone to revolutions.


William Howard Taft


Philander Chase Knox

Knox's plan was to expand American political influence overseas by increasing American investment and minimizing the risk of European interference in Central America or the Caribbean by persuading the governments of these countries to borrow from American rather than European banks.

The idea of ​​"dollar diplomacy" grew out of the intervention of President Theodore Roosevelt, the predecessor of Taft, in the internal affairs of the Dominican Republic, where US loans were exchanged for the right to choose the head of the Dominican customs, which was the main source of income for this state.

In Nicaragua, the Taft administration went even further: in 1909, it supported the overthrow of President José Santos Zelaya and guaranteed loans to Nicaragua's new government. However, the indignation of the Nicaraguan people pushed the United States to military intervention, which later led to the occupation of the country by the Americans in 1912-1934.

The Taft administration has also tried to extend "dollar diplomacy" even to China, where it has been even less successful, both in terms of US lending capacity and global response. Thus, in particular, the American plans for the internationalization of the Manchurian railways did not materialize.

The predictable failure of "dollar diplomacy" forced the Taft administration to finally abandon this policy in 1912. The following year, the new US president, Woodrow Wilson, publicly rejected dollar diplomacy, although he continued to act as vigorously as his predecessors to maintain US dominance in Central America and the Caribbean.

It is noteworthy that Knox, returned to the US Senate in 1917, was one of the consistent opponents of the League of Nations, the predecessor of the UN.
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  1. NF68
    NF68 2 May 2021 18: 14
    +1
    Such actions by the United States will sooner or later push other countries to seek methods that will allow them to reduce the influence of the United States. I would like to hope that sooner or later this will give a positive result.
    1. businessv
      businessv 2 May 2021 18: 26
      +3
      Quote: NF68
      Such actions by the United States will sooner or later push other countries to seek methods that will allow them to reduce the influence of the United States.

      Long ago pushed and behind the scenes, so as not to irritate the hegemon, negotiations are underway between countries and the search for alternative ways for mutual settlements. I think that sooner or later, an alternative will be found.
      1. for
        for 2 May 2021 18: 43
        +3
        Quote: businessv
        behind the scenes, so as not to annoy the hegemon,

        How do you know then? So they know too.
        Quote: businessv
        an alternative will be found

        And what kind of alternative it is, there is no prospect of the ruble yet, but another currency, another hegemon.
        1. businessv
          businessv 2 May 2021 20: 33
          +2
          Quote: for
          And what kind of alternative it is, there is no prospect of the ruble yet, but another currency, another hegemon.

          Currency can also be neutral - for example, electronic. No owner, no owner. And most importantly, each country will be interested in its own well-being.
          How do you know then? So they know too.
          Only the lazy does not know about this, I meant that the negotiations are not advertised and payments are already being carried out, the proposed scheme is being tested.
          1. Dilettante grandfather
            Dilettante grandfather 4 May 2021 04: 49
            0
            Currency can also be neutral - for example, electronic. No owner, no owner. And most importantly, each country will be interested in its own well-being.
            Means of mutual settlement can be electronic, but not money. Money is coins, banknotes. Material item. And electronic receipts are nothing but air, a phantom. Imagine for a second that the entire Internet on the planet is covered with a copper basin. What will happen after that with electronic invoices?
            1. businessv
              businessv 5 May 2021 21: 09
              0
              Quote: Grandfather is an amateur
              Means of settlement can be electronic, but not money.
              So we are talking about means of mutual settlements, not about money. Such a tool should not be subject to inflation. Something that will be relatively unshakable in relation to any limited valuable earthly resource. But the external manifestation can be both securities and electronic units. The point is that this means of mutual settlements does not belong to any country, only then there will be a more or less balanced system that is not subject to corruption.
              1. Dilettante grandfather
                Dilettante grandfather 6 May 2021 06: 50
                0
                Okay, but what will happen to electronic means if there is no global network? In this case, paper and metal money will not suffer, but electronic accounts - who will need it in such a situation?
                1. businessv
                  businessv 7 May 2021 23: 37
                  0
                  Quote: Grandfather is an amateur
                  Okay, but what will happen to electronic means if there is no global network?

                  Until now, virtual info is stored not only on the server. The end product is on paper. I mean the amount in the account is confirmed after any transaction and is saved either on removable media or on paper. Duplication of information on backup sources is the law of accounting, so it is not a problem to confirm the availability of funds, the problem will be to use them in international payments in the absence of a network. We're talking about a payment system, not about keeping money in physical form, right? Then you can not worry about the network at all, because the network is only needed to transfer the means of payment for the goods.
                  1. Dilettante grandfather
                    Dilettante grandfather 8 May 2021 10: 53
                    -1
                    I, in principle, too lazy to argue. In physical form, money is now - it may, of course, exist, but these are only pieces of paper: they are not provided with anything. Money was untied from gold, and not tied to anything else. Officially. Therefore, alas, money is only an appearance. And the payment system, in electronic or virtual form, personally only makes me laugh. Legalized swindlers (banks) simply support each other. They do not produce anything, they do not create, they simply use other people's means to increase their own well-being ...
                    1. businessv
                      businessv 8 May 2021 20: 53
                      0
                      Quote: Grandfather is an amateur
                      They do not produce anything, they do not create, they simply use other people's means to increase their own well-being ...

                      And they say that it is useless to discuss anything! Lies!!! We discussed with you and reached full consensus! Happy Victory Day! Health, happiness, mood!
                      1. Dilettante grandfather
                        Dilettante grandfather 9 May 2021 08: 21
                        0
                        Happy Holidays! hi
        2. Revolver
          Revolver 2 May 2021 21: 42
          +6
          Little did the Russian Federation get hung up on mutual settlements in yuan, when the Chinese took and artificially reduced its value? The Chinese are good, but the lope of lards, in terms of dollars, has lost the Russian Federation?
      2. WIKI
        WIKI 2 May 2021 20: 25
        +4
        Quote: businessv
        negotiations are underway between the countries and the search for alternative ways for mutual settlements.

        This problem cannot be solved by negotiations alone. Everything is determined by the stability of the jack for the calculation. Which is determined by the strength of the economy, the expected inflation in the country and the key rate of the Central Bank.
        1. businessv
          businessv 2 May 2021 20: 43
          +1
          Quote: WIKI
          Everything is determined by the stability of the jack for the calculation.
          Everything is determined not by the stability of the currency of a particular country, but by the system of international payments! Getting rid of the dollar is not a problem, the problem is what will happen next? The gold price tag, to which all international settlements were tied almost until 1944, was exchanged for paper, and Nixon completely canceled the price of gold in international settlements. This concerned us only indirectly, while the country was closed, but now we are drinking a full spoon.
          1. WIKI
            WIKI 2 May 2021 21: 41
            +2
            Quote: businessv
            Getting rid of the dollar is not a problem

            How do you imagine this process?
            1. Snail N9
              Snail N9 2 May 2021 22: 13
              +7
              Exactly. I have a feeling that those who drown for the "simplicity" of "getting rid of the dollar" represent this dollar dependence as: Americans run around the world and ask or force them to use their dollars ... And you just have to say "Don't ... I will not use dollars anymore. I don’t want to use them! Bad dollars! ”- and that's it, I got rid of dollars at once, yeah. yes
              1. businessv
                businessv 3 May 2021 19: 56
                0
                Quote: Snail N9
                Bad dollars! "- and that's it, at once and got rid of the dollars, yeah.
                Answered below, read. smile
            2. businessv
              businessv 3 May 2021 19: 55
              +1
              Quote: WIKI
              How do you imagine this process?

              laughing Okay! You will read economists who are not blinkered by globalist ideas and you will also have a good idea of ​​this process. You can start here https://svpressa.ru/economy/article/297285/, then continue here https://svpressa.ru/economy/article/282263/ This will help you understand that this is not so difficult.
              1. Evgeny Goncharov (smoogg)
                Evgeny Goncharov (smoogg) 3 May 2021 23: 07
                0
                Does Katasonov still have a daughter in the USA? Undermines, so to speak, the hegemon from within?
                1. businessv
                  businessv 5 May 2021 15: 02
                  0
                  Quote: Evgeny Goncharov (smoogg)
                  Does Katasonov still have a daughter in the USA?
                  I don't even know if he has a spouse. It's about the economy, not about relatives.
                  1. Evgeny Goncharov (smoogg)
                    Evgeny Goncharov (smoogg) 5 May 2021 16: 47
                    0
                    You are deeply mistaken if you think that I am not talking about economics.
              2. WIKI
                WIKI 4 May 2021 10: 22
                +1
                From the first link, I still did not understand what the new settlement system could be. About gold. At the moment it is not stable enough to replace the dollar. Take the recent market drop in March 2020 as an example. Gold slipped 14,6% and DXY 5,2%.
                1. businessv
                  businessv 5 May 2021 15: 06
                  0
                  Quote: WIKI
                  It is currently not so stable as to replace the dollar.
                  You are a little out of place, colleague. Gold is a limited resource, you can draw mountains for the dollar. And you say that gold is not stable! wink It's not about sustainability, it's about demand. There is no more stable currency than a limited inorganic and non-perishable resource.
      3. NF68
        NF68 3 May 2021 17: 13
        +1
        Quote: businessv
        Quote: NF68
        Such actions by the United States will sooner or later push other countries to seek methods that will allow them to reduce the influence of the United States.

        Long ago pushed and behind the scenes, so as not to irritate the hegemon, negotiations are underway between countries and the search for alternative ways for mutual settlements. I think that sooner or later, an alternative will be found.


        Only so far no one has dared to do this.
        1. businessv
          businessv 3 May 2021 20: 16
          +1
          Quote: NF68
          Only so far no one has dared to do this.
          And he will not decide yet because half of the countries' assets are invested in them! I'm talking about the opportunity to change the payment system, and not about the immediate abandonment of the American ruble! There will be an option, there will be a refusal.
          1. NF68
            NF68 4 May 2021 16: 23
            +1
            Quote: businessv
            Quote: NF68
            Only so far no one has dared to do this.
            And he will not decide yet because half of the countries' assets are invested in them! I'm talking about the opportunity to change the payment system, and not about the immediate abandonment of the American ruble! There will be an option, there will be a refusal.


            Here the main hope is only in China.
  2. Prisoner
    Prisoner 2 May 2021 18: 23
    +1
    laughing Wipe down with your candy wrapper.
  3. 3x3zsave
    3x3zsave 2 May 2021 18: 23
    +5
    The degree of hysteria of the article, at least, is surprising.
    1. lucul
      lucul 2 May 2021 20: 50
      -10%
      The degree of hysteria of the article, at least, is surprising.

      So far, only your comment is surprising.
    2. Hantengri
      Hantengri 2 May 2021 22: 47
      +2
      Quote: 3x3zsave
      The degree of hysteria of the article, at least, is surprising.

      My compliments Anton! hi But 7,5 ma-a-scarlet paragraphs, diluted with 2 photographs (increasing, by the way, the size of the "work" almost twice). Still, in my opinion, these "mnogabuki" do not make an article worthy of placement in the "History" section.
      Probably, they are trying to accustom us to the idea that Samsonov is not so bad.
      1. Krasnodar
        Krasnodar 2 May 2021 23: 38
        +5
        And Frolova is even Good.
        Baby son came to father
        And the baby asked
        How to store your loot
        If the dollar is bad
        If you have rubles
        Throw them away without fail
        And keep everything in francs
        Better in the banks of Vienna
        If the shekels are yours
        Do not dump right away
        Do not buy dollars
        In Tel Aviv - a hut
        If you have yuan
        Build a factory in Wuhan
        Sell ​​masks to people
        And take the diamonds ... fellow
  4. arhitroll
    arhitroll 3 May 2021 02: 32
    0
    Energy ruble. 1p = kW. Whether oil, gasoline, or electricity ...