As　the　acquisition　of　the　Philippines　made　all　Far　Eastern　questions　of　importance　to　the　United　States；　so　the　investment　of　American　millions　in　a　canal　across　the　Isthmus　of　Panama　increased　popular　interest　in　the　problems　of　the　Caribbean。　That　fascinating　sheet　of　water；　about　six　hundred　miles　from　north　to　south　by　about　fifteen　hundred　from　east　to　west；　is　ringed　around　by　the　possessions　of　many　powers。　In　1898　its　mainland　shores　were　occupied　by　Mexico；　British　Honduras；　Guatemala；　Honduras；　Nicaragua；　Costa　Rica；　Colombia；　and　Venezuela；　its　islands　were　possessed　by　the　negro　states　of　Hayti　and　the　Dominican　Republic；　and　by　Spain；　France；　Great　Britain；　Holland；　and　Denmark。　In　the　Caribbean　had　been　fought　some　of　the　greatest　and　most　significant　naval　battles　of　the　eighteenth　century　and；　when　the　canal　was　opened；　across　its　waters　would　plough　a　great　share　of　the　commerce　of　the　world。　As　owner　of　the　canal　and　professed　guardian　of　its　use；　the　United　States　was　bound　to　consider　its　own　strategic　relation　to　this　sea　into　which　the　canal　opened。
  Gradually　the　situation　which　existed　in　1898　has　changed。　Spain　has　been　removed　from　the　Caribbean。　Of　her　former　possessions　the　United　States　holds　Porto　Rico；　Cuba　is　independent；　but　is　in　a　way　under　the　protection　of　the　United　States；　which　possesses　on　her　coast　the　naval　station　of　Guantanamo。　The　American　treaty　with　the　new　republic　of　Panama　practically　created　another　American　protectorate；　and　the　fortification　of　the　canal　gave　the　United　States　another　strategic　position。　The　negotiation　for　the　purchase　of　the　Danish　islands　has　been　completed　successfully。　But　these　obvious　footholds　are　of　less　importance　than　the　more　indirect　relationships　which　the　United　States　has　been　steadily　establishing；　through　successive　Administrations；　with　the　various　other　powers　located　on　the　borders　of　the　Caribbean。
  The　Spanish　War　did　not　lull　the　suspicions　of　the　United　States　regarding　the　dangerous　influence　which　would　be　exerted　should　the　ambitions　of　European　powers　be　allowed　a　field　of　action　in　the　American　continents；　and　the　United　States　remained　as　intent　as　ever　on　preventing　any　opportunity　for　their　gaining　admittance。　One　such　contingency；　though　perhaps　a　remote　one；　was　the　possibility　of　a　rival　canal；　for　there　are　other　isthmuses　than　that　of　Panama　which　might　be　pierced　with　the　aid　of　modern　resources　of　capital　and　genius。　To　prevent　any　such　action　was　not　selfish　on　the　part　of　the　United　States；　for　the　American　canal　was　to　have　an　open　door；　and　there　was　no　economic　justification　for　another　seaway　from　the　Atlantic　to　the　Pacific。
  There　might；　however；　be　some　temptation　in　the　political　and　military　influence　which　such　a　prospective　second　canal　could　exert。　Negotiations　were　begun；　therefore；　with　all　the　transcontinental　powers　of　Central　America；　offering　liberal　compensation　for　the　control　of　all　possible　canal　routes。　These　negotiations　have　been　long　drawn　out　and　are　only　lately　coming　to　fruition。　They　have　served；　however；　to　taboo　all　projects　by　other　nations；　and　one　of　these　treaties　negotiated　with　Colombia；　but　not　yet　ratified；　holds　out　the　prospect　of　winning　back　her　friendship　which　was　so　seriously　alienated　by　the　recognition　of　the　republic　of　Panama　by　the　United　States。
  In　one　respect　the　changing　world　has　rendered　quite　obsolete　the　pronouncements　of　President　Monroe。　In　the　case　of　Japan　there　has　grown　up　a　great　power　which　is　neither　European　nor　American。　American　policy　in　the　Far　East　has　made　it　abundantly　evident　that　the　United　States　does　not　regard　the　self…imposed　limitations　upon　its　activity　as　extending　to　Asia。　In　her　case　there　is　lacking　the　quid　pro　quo　by　which　the　United　States　has　justified　its　demand　that　European　powers　refrain　from　interfering　in　America。　By　no　means；　however；　has　the　Government　admitted　the　right　of　Asia　to　impinge　on　the　American　continents。
  In　1912　Washington　heard　that　Japan　was　negotiating　with　Mexico　for　a　concession　on　Magdalena　Bay。　Senator　Lodge　promptly　introduced　a　resolution　in　the　Senate；　declaring　that　〃when　any　harbor　or　other　place　in　the　American　continents　is　so　situated　that　the　occupation　thereof　for　naval　or　military　purposes　might　threaten　the　communication　or　the　safety　of　the　United　States；　the　Government　of　the　United　States　could　not　see；　without　grave　concern；　the　possession　of　such　harbor　or　other　place　by　any　corporation　or　association　which　has　such　relation　to　another　government；　not　American；　as　to　give　that　government　practical　power　of　control　for　naval　or　military　purposes〃　This　resolution；　which　passed　the　Senate　by　a　vote　of　51　to　4；　undoubtedly　represented　American　sentiment；　at　least　with　regard　to　the　foreign　occupation　of　any　territory　bordering　on　the　Caribbean　or　on　the　Pacific　between　Panama　and　California。
  A　more　subtle　danger　lay　in　the　financial　claims　of　European　powers　against　the　various　states　in　Central　America；　and　the　possibility　of　these　claims　being　used　as　levers　to　establish　permanent　control。　Most　of　these　foreign　demands　had　a　basis　in　justice　but　had　been　exaggerated　in　amount。　They　were　of　two　kinds：　first；　for　damage　to　persons　or　property　resulting　from　the　numerous　revolutions　and　perpetual　brigandage　which　have　scourged　these　semitropic　territories；　second；　for　debts　contracted　in　the　name　of　the　several　countries　for　the　most　part　to　conduct　revolutions　or　to　gild　the　after…career　of　defeated　rulers　in　Paris；debts　with　a　face　value　far　in　excess　of　the　amount　received　by　the　debtor　and　with　accumulated　interest　in　many　cases　far　beyond　the　capacity　of　the　several　countries　to　pay。　The　disputes　as　to　the　validity　of　such　claims　have　been　without　end；　and　they　have　furnished　a　constant　temptation　to　the　cupidity　of　individuals　and　the　ambition　of　the　powers。
  In　1902　Germany　induced　Great　Britain　and　Italy　to　join　her　in　an　attempt　to　collect　the　amount　of　some　of　these　claims　from　Venezuela。　A　joint　squadron　undertook　a　〃pacific　blockade〃　of　the　coast。　Secretary　Hay　denied　that　a　〃pacific　blockade〃　existed　in　international　law　and　urged　that　the　matter　be　submitted　to　arbitration。　Great　Britain　and　Italy　were　willing　to　come　to　an　understanding　and　withdrew；　but　Germany；　probably　intent　on　ulterior　objects；　was　unwilling　and　preferred　to　take　temporary　possession　of　certain　ports。　President　Roosevelt　then　summoned　the　German　Ambassador；　Dr。　Holleben；　and　told　him　that；　unless　Germany　consented　to　arbitrate；　Admiral　Dewey　would　be　ordered　at　noon　ten　days　later　to　proceed　to　Venezuela　and　protect　its　coast。　A　week　passed　with　no　message。　Holleben　called　on　the　President　but　rose　to　go　without　mentioning　Venezuela。　President　Roosevelt　thereupon　informed　the　Ambassador　that　he　had　changed　his　mind　and　had　decided　to　send　Admiral　Dewey　one　day　earlier　than　originally　planned；　he　further　explained　that　in　the　event　the　Kaiser　should　decide　to　arbitrate；　as　not　a　word　had　been　put　on　paper；　there　would　be　nothing　to　indicate　coercion。　Within　thirty…six　hours　Holleben　reported　that　Germany　would　arbitrate。　Only　once　before；　when　Seward　was　dealing　with　Napoleon　III　concerning　Mexico；　had　forcible　persuasion　been　used　to　maintain　the　Monroe　Doctrine。
  It　was　perfectly　clear　that　if　the　United　States　sat　idly　by　and　allowed　European　powers　to　do　what　they　would　to　collect　their　Latin　American　debts；　the　Monroe　Doctrine　would　soon　become　a　dead　letter。　It　was　not；　however；　so　plain　how　American　interference　could　be　justified。　The　problem　was　obviously　a　difficult　one　and　did　not　concern　the　United　States　alone。　Latin　America　was　even　more　vitally　concerned　with　it；　and　her　statesmen；　always　lucid　exponents　of　international　law；　were　active　in　devising　remedies。　Carlos　Calvo　of　Argentina　advanced　the　doctrine　that　〃the　collection　of　pecuniary　claims　made　by　the　citizens　of　one　country　against　the　government　of　another　country　should　never　be　made　by　force。〃　Senior　Drago；　Minister　of　Foreign　Affairs　in　the　same　country　in　1902；　urged　upon　the　United　States　a　modification　of　the　same　view　by　asserting　that　〃the　public　debt　cannot　occasion　armed　intervention。〃
  President　Roosevelt　handled　the　matter　in　his　messages　of　1903　and　1904。　〃That　our　rights　and　interests　are　deeply　concerned　in　the　maintenance　of　the　＇Monroe＇　Doctrine　is　so　clear　as　hardly　to　need　argument。　This　is　especially　true　in　view　of　the　construction　of　the　Panama　Canal。　As　a　mere　matter　of　self　defense　we　must　exercise　a　close　watch　over　the　approaches　to　this　canal；　and　this　means　we　must　be　thoroughly　alive　to　our　interests　in　the　Caribbean　Sea。〃　〃When　we　announce　a　policy。。。　we　thereby　commit　ourselves　to　the　consequences　of　the　policy。〃　〃Chronic　wrongdoing　or　an　impotence　which　results　in　a　general　loosening　of　the　ties　of　civilized　society；　may　in　America；　as　elsewhere；　ultimately　require　intervention　by　some　civilized　nation；　and　in　the　Western　Hemisphere　the　adherence　of　the　United　States　to　the　Monroe　Doctrine　may　force　the　United　States；　however　reluctantly；　in　flagrant　cases　of　such　wrongdoing　or　impotence；　to　the　exercise　of　an　international　police　power。〃
  To　prevent　European　intervention　for　the　pur