The Dollar Diplomacy accepted by William Howard Taft and State Secretary was applied to a large amount owing to the policy of domination and the Roosevelt Corollary. The of the policy was improvement of commercial savings in the Far East and Latin America. Aggressive diplomacy of Taft to make safe U.S. investment in these states intended to give confidence to U.S. investors to make sure they invest their extra dollars in countries of Latin America, as they were the major strategic importance for Unites States. Such policy took a lot of forms and contained extension of trade treaties, establishment of protectorates, acquisition of naval bases, military involvement to coerce both debtors and absolute intervention in the voting.
The major trend of the long-established foreign policies is placing expansion of American authority across its’ boundaries and country’s stability in the international arena as the highest goal. In spite of the fact that Dollar Diplomacy, Monroe Doctrine, and Roosevelt Corollary were a result of U.S. tough imperialism, the consequences were productive. Unclear formulation of the principle allowed modification of the foreign strategy appropriate to changing wants of the United States and variations in the worldwide arena. On the contrary, the Alliance for Progress had specific goals for expansion of Latin America which left less chance for shaping and maneuvering potential U.S. foreign policy.
President Kennedy has announced the fundamentals of the change from imperialism on March 16, 1961, on the next day the Alliance has been suggested to U.S. Congress. After three weeks President Kennedy proclaimed his decision to go on with the intended attacks of Cuba. The correspondence between these two events is absolutely not accidental. Kennedy only assured security and support of own spot in Latin America accepting a plan which would be backed by Latin America. Taking into consideration the U.S. relations with Cuba, the Alliance was an effort to continue the revolution which has started earlier on the continent.