A world safe for capitalism : dollar diplomacy and America's rise to global power
This book provides a window on how America began to intervene in world affairs. In exploring 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 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" (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
History
xiv, 250 pages, 8 unnumbered pages of plates : illustrations, map ; 24 cm.
9780231125864, 9780231125871, 0231125860, 0231125879
48958173
Introduction Economic Interests and U.S. Expansion, 1892--1907 Chapter One The Gilded Age Goes Abroad: The San Domingo Improvement Company and the Political Economy of the 1890s Chapter Two Remapping the Caribbean: U.S. Caribbean Interests and the Mission of the SDIC Chapter Three Peasants in the World Economy: The Dominican Republic in the late 1800s Chapter Four Dictating Development: Ulises Heureaux and the SDIC Remake the Dominican Republic Chapter Five The Cash Nexus: Economic Crisis and the Collapse Chapter Six Old Wine in New Skins: The U.S. Government Champions the SDIC, 1899--1904 Chapter Seven A Reign of Law Among Nations: John Bassett Moore and the Vindication of the SDIC, 1904 Chapter Eight A World Safe for Capitalism: Stabilizing the Dominican Republic, 1901--1905 Chapter Nine From The Gilded Age to Dollar Diplomacy: The SDIC and the Roosevelt Corollary, 1904--1907 Conclusion