Aim: What was U.S. Economic Imperialism?

South America




American Protection or Interference?

Amid the various Latin American independence movements in the early 1800s, the United States issued the Monroe Doctrine in 1823. This stated that any attempt by a European power to reassert control over a rebellious colony in South America would be viewed as a threat to the United States which had only recently won its independence from Great Britain. While the U.S. did not have the military prowess necessary to repel Spain or Portugal in 1823, Great Britain was only too pleased to lend its support in order to gain access to the lucrative South American markets that it had been denied under mercantilism.

While the Monroe Doctrine may have seemed to protect the young nations being created in South America in the 1800s, it also set a precedent for U.S. interference in the region.



Spanish-American War

After winning the Spanish-American War in 1898, the U.S. gained control of Spanish colonial possessions in Asia and South America. While Cuba and Puerto Rico were soon given a measure of autonomy, the U.S. still reserved the right to intervene in their affairs when it best suited the national interests of the United States.



Roosevelt Corollary

As President of the United States, Theodore Roosevelt issued an extension to the Monroe Doctrine that essentially stated that only the U.S. would be allowed to intervene in South America. With European nations trying to collect on bad debts in South American nations, the U.S. actually took over trade in areas in order to provide prompt payment to their creditors.



Panama Canal

A canal corridor between the Caribbean Sea and the Pacific Ocean served the national interests of the United States. The U.S. went so far as to provide aid to the rebelling province of Panama in its bid for independence from Colombia. In exchange, the U.S. was able to dig, maintain, and control access through the canal until 1999 when its lease expired, requiring its return to the Panama government