Panama Canal and Roosevelt Corollary vs Taft Dollar Diplomacy

By: Gowri Palamuthi, Whitney Wu, Saachi Matreja

Background of the French• Before the U.S began on the Panama Canal, the French

had attempted it and resulted in failure. They began their project in 1880.

• The French were led by Ferdinand de Lesseps.• Most of the best engineers began to leave early or died during

construction.

• They didn't have the right equipment at the time.• A lot of money was spent on the project. They

wasted about a total of 42 million dollars.• The work went on for about 10 years before they

eventually gave up the project.

Ferdinand de Lesseps

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The Panamanian Revolution• In early 1903, the United States wanted the use of the Isthmus of

Panama but the senator of Colombia refused.• The United States funded Panama in declaring their independence. • Colombia was quickly intimidated by the sent warship called the,

"Nashville" which blocked out Columbia or Spain from invading and surrendered.

• In November of 1903, Panama was officially recognized as it's own republic.

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Panama Canal: How it works• The Panama Canal joined the Atlantic Ocean and Pacific

Ocean, which greatly benefited international trade.• Used for transporting goods today• The Panama Canal is used by many countries• It's about 60 feet deep and 50 miles long. • Contains 3 sets of locks• There is a toll fee depending

on the size of the ship andwhat is being imported

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Carter Signs a TreatySeptember 7th, 1977: Carter signs a treaty agreeing that from

the year 2000, the Panama Canal will be controlled by Panama, ending the 1904 agreement signed by Roosevelt.

•December 31st, 1999: The Panama Canal is peacefully restored to Panama. Roosevelt Corollary

•Monroe Doctrine: prevented further expansion of Europe in the Western Hemisphere

•Roosevelt Corollary: asserted that European nations could not intervene in Latin America, but under certain circumstances the United States would be permitted to intervenes

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Roosevelt Corollary (continued...)•Also interpreted as Europe could not forcibly collect debt

owed to them by Latin American nationsUses:• America invades the Dominican Republic, 1905: it was in

danger of European invasion due to its large debt.• America invades Cuba, 1906: Revolt over rigged

reelection. • America invades Haiti, 1915: Maintain peace and

develop the country.

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Taft Dollar Diplomacy- dollar diplomacy: US government giving loans

and helping financially weak nations

- used to extend American commercial and financial interests

- substituted "dollars for bullets" - was not always successful and was abandoned in 1912

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Roosevelt vs. Taft

Roosevelt -focused on preventing

Europe from expanding in Latin America

-used the military to prevent European countries from invading

Taft -wanted to invest money in

Latin American economies -used money and trade to

prevent European countries from invading

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