By Cyrus Veeser
A global secure for Capitalism unravels a little-known incident: a Wall road corporation's takeover of the international debt, nationwide railroad, and nationwide financial institution of the Dominican Republic within the Nineties. operating with the republic's tyrannical president, the yank enterprise attempted to show self-sufficient peasants into cash-crop farmers, with disastrous effects. by way of 1904, the company's slim pursuit of revenue clashed with Theodore Roosevelt's objective of constructing the USA a good energy, hence triggering a sweeping new policy-the Roosevelt Corollary to the Monroe Doctrine. Praised by means of Diplomatic historical past as "a version of globe-trotting multiarchival research," this interesting heritage covers occasions in long island, Washington, Santo Domingo, Brussels, and London.
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Extra resources for A world safe for capitalism: dollar diplomacy and America's rise to global power
But the mine was almost inaccessible. Mr. Weed induced the State to build a railroad from Plattsburgh to Clinton Prison, at Dannemora, for the ostensible purpose of transporting provisions for the convicts, and then leased the railroad for the stupendous sum of $1 a year. . 29 Despite Weed’s manipulation of the state-owned railroad, the profitability of the mine was not yet assured. Like other mine owners, Weed depended 18 the gilded age goes abroad on high tariffs to protect his iron from competition with more efficient British mines and mills.
Ulises Heureaux2 On the last day of the year 1892, an American steamship chartered in Florida sailed into Puerto Plata, the largest seaport on the north coast of the Dominican Republic. On board was a group of American investors who, a few months earlier, had bought the entire foreign debt of the Caribbean republic. Charles W. S. government support for the company’s entry into Caribbean finance, as well as George Weed, son of SDIC president Smith M. Weed, intimate friend of Grover Cleveland. ”3 Dominican newspapers, under the thumb of president Ulises Heureaux, did not mention the arrival of the “pleasure party” of Americans.
At the time of its discovery,” the report continued, there was living in Plattsburgh a shrewd laywer, Smith M. Weed, who had no capital except his brains. The land at Lyon Mountain was owned by a resident of a distant city, but Mr. Weed leased it and then strove to interest capitalists in his scheme to develop the mine. . But the mine was almost inaccessible. Mr. Weed induced the State to build a railroad from Plattsburgh to Clinton Prison, at Dannemora, for the ostensible purpose of transporting provisions for the convicts, and then leased the railroad for the stupendous sum of $1 a year.
A world safe for capitalism: dollar diplomacy and America's rise to global power by Cyrus Veeser