Monroe Doctrine and Corollary · US History

The Olney Interpretation (1895) of the Monroe Doctrine stated that:

  1. The U.S. was 'practically sovereign' on this continent and its 'fiat is law'
  2. The U.S. would never again build or launch a new battleship
  3. All European nations were invited to trade freely throughout Texas and Louisiana
  4. The Monroe Doctrine only applied to the state of Florida and its coastline
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Correct answer: The U.S. was 'practically sovereign' on this continent and its 'fiat is law'

During a boundary dispute between Venezuela and British Guiana, Secretary of State Richard Olney asserted an extreme version of U.S. hegemony. This showed that by the late 19th century, the U.S. was ready to challenge even Great Britain for regional dominance.

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