nov 13, 1908 - Taft elected
Description:
As a Trustbuster, President William Howard Taft followed and even expanded the precedent of regulating large corporations and monopolistic trusts. Taft filed twice as many suits against trusts during his one term as President compared to 44 by TR in his seven and on-half years in office. Standard Oil Co. was finally broken up by a Supreme Court decision in 1911. Following that case, Taft brought suit against the giant U.S. Steel company. Dollar diplomacy was Taft's approach to use dollars rather than bullets to ensure stability and order in Latin America and Asia. He wanted American capital to replace European capital in Latin America. He wanted U.S. investment bankers to assume debts from Honduras and Haiti. He also encouraged U.S. financiers to invest heavily if not buy the Manchurian railroad, limiting the control of Japan and Russia in China. Dollar diplomacy had little impact on U.S. foreign investments.
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