Dollar diplomacy
Dollar diplomacy of the United States, particularly during the presidency of William Howard Taft (1909–1913) was a form of American foreign policy to minimize the use or threat of military force and instead further its aims in Latin America and East Asia through the use of its economic power by guaranteeing loans made to foreign countries. In his message to Congress on 3 December 1912, Taft summarized the policy of Dollar diplomacy: The diplomacy of the present administration has sought to respond to modern ideas of commercial intercourse.