17.3 Notes -­‐ Roosevelt’s Foreign Policy Panama Canal •  US interested for economic and poli@cal reasons –  Reduce the travel for ships going from New York to San Francisco –  Easier for the Navy to go from the Atlan@c to the Pacific Ocean. Panama Canal •  Spooner Act (1902) – Congress buys France's concession to build the Panama Canal for $40 million. •  1903-­‐ US sponsors a revolu@on in Panama that allows it to breakaway from Colombia. –  Provides protec@on for Panama •  Hay-­‐Bunau-­‐Varilla Treaty – US receive permanent grant of a 10 mile strip of land for the canal. Reac@on to Panama Canal •  President Roosevelt cri@cized for suppor@ng a Panamanian revolu@on –  Viewed as a viola@on of interna@onal law. •  Most people viewed the Panama Canal as vital resource for the economy and na@onal security. Roosevelt’s Foreign Policy •  “Speak so[ly and carry a big s@ck; you will go far.” •  Roosevelt Corollary – US did not want to take over addi@onal territory. •  US commi^ed to ensuring stability and order in La@n America. –  Act as a police force Roosevelt in Asia •  Wanted to preserve Open-­‐Door Policy in China. •  Concerned with the rise of Japan as military power. –  Defeated Russia in the Russo-­‐Japanese War 1904-­‐1905 •  Nego@ated end to the war to protect trade and stability in Asia. President Ta[ •  Goal: Maintain open door policy in Asia and stability in La@n America. •  Dollar diplomacy – Use money instead of bullets to pursue interests. –  Created enemies in La@n America -­‐ growing interna@onal resentment of U.S. interven@on. President Wilson •  Under Wilson, the United States applied more moral and legalis@c standards to foreign policy decisions. •  Wilson’s “moral diplomacy” did not work well in Mexico. Many lives were lost, and U.S. financial interests lost ground. •  U.S.–Mexico rela@ons were strained for many years.