Essay On Monevelt Corollary Of The Monroe Doctrine

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British Bondholders and the Roosevelt Corollary of the Monroe Doctrine Standing from the present we inhabit, it can be easy to look at the grander moments in history past and forget that they were as much driven by the same interests and complexities that drive similar moments in contemporary politics as well. It is the presence of these such interests that the author J. Fred Rippy hoped to document in his paper The British Bondholders and the Roosevelt Corollary of the Monroe Doctrine, published in 1934 by the Academy of Political Science. In it, he proposes that one of the major driving forces which pushed then-President Theodore Roosevelt to establish his Roosevelt Corollary to the Monroe Doctrine was the pressure put on the State Department …show more content…
Rather, according to Rippy, the potential influence the United States now held over the finances of its Latin American sisters resulted in American firms and institutions receiving considerably more business, while European creditors saw markedly less business now that the act of borrowing and doing business with them had become significantly riskier (Rippy, …show more content…
The cause-and-effect sequence both follows logically, and is extensively backed up with plentiful evidence, including State Department papers and correspondence during the events in question. Rippy also draws from financial and business sources seldom seen in other papers on the topic as evidence, primarily the Council of the Corporation of Foreign Bondholders. The author demonstrates an obvious familiarity with both the diplomatic and business sides of the Roosevelt Corollary, and while he does rely somewhat on terminology and concepts likely unfamiliar to those without an intermediate understanding of the topics discussed, particularly the business side of his analysis, he does provide enough context to grant a basic picture of things even if the casual reader does not fully grasp all the nuance of it. While the assertion that something as important to America’s development into a world power was the direct result of British bondholders trying to protect their profit margins is certainly a bold one, Rippy is fully able to back his claim; in fact, he does so with a somewhat endearing modesty, deeming his analysis naught more than “a small contribution… [to a] complicated subject” (Rippy, pg. 195). I do perhaps wish Rippy had been able to make an assertion or broader argument, or otherwise

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