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The Roosevelt Corollary was articulated in the aftermath of the Venezuela Crisis of 1902–1903. In late 1902, Britain, Germany, and Italy imposed a naval blockade of several months against Venezuela after President Cipriano Castro refused to pay foreign debts and damages suffered by European people in a recent Venezuelan civil war. [3]
The blockade provided the initial basis of the Roosevelt Corollary to the Monroe Doctrine. [14] [15] In 1904, although he had mentioned the basis of his idea beforehand in private letters, Roosevelt officially announced the corollary, stating that he only wanted the "other republics on this continent" to be "happy and prosperous".
In his autobiography, Roosevelt explained his belief on the issue. He wrote: [ 28 ] I have always believed that it would also be necessary to give the National Government complete power over the organization and capitalization of all business concerns engaged in inter-State commerce.
Roosevelt's pronouncement was especially meant as a warning to Germany, and had the result of promoting peace in the region, as the Germans decided to not intervene directly in Venezuela and in other countries. [156] A crisis in the Dominican Republic became the first test case for the Roosevelt Corollary. Deeply in debt, the nation struggled ...
Brazilian President Getúlio Vargas (left) and US President Franklin D. Roosevelt (right) in 1936. The Good Neighbor policy (Spanish: Política de buena vecindad [1] Portuguese: Política de Boa Vizinhança) was the foreign policy of the administration of United States President Franklin D. Roosevelt towards Latin America.
Seeking to minimize European power in Latin America, he mediated the Venezuela Crisis and declared the Roosevelt Corollary. Roosevelt mediated the Russo-Japanese War (1904–1905), for which he won the 1906 Nobel Peace Prize. He pursued closer relations with Great Britain. Biographer William Harbaugh argues:
The Roosevelt Corollary to the Monroe Doctrine was a substantial alteration (called an "amendment") of the Monroe Doctrine by President Theodore Roosevelt in 1904. [5] In its altered state, the Monroe Doctrine would now consider Latin America as an agency for expanding U.S. commercial interests in the region, along with its original stated ...
As a result, the crisis produced the Roosevelt Corollary to the Monroe Doctrine, [29] described in Roosevelt's 1904 message to Congress. [7] The Corollary asserted a right of the United States to intervene to "stabilize" the economic affairs of small states in the Caribbean and Central America if they were unable to pay their international ...