Note 3 — Chapter I

It may be pointed out that for nearly seventy years the United States has acquired no territory from any Latin-American republic, except the perpetual lease of the canal zone, which was freely granted on most profitable conditions by the Republic of Panamá. Cuba and Panamá owe their separate existence, together with an unexampled prosperity and internal tranquillity, to the United States. In Nicaragua and Santo Domingo the great material benefits of interposition seem to outweigh sentimental objections. The financial obligations of Nicaragua have been adjusted through the help of the United States; and it may perhaps be felt that improved public solvency, material prosperity and internal security, though effected through outside aid, enhance instead of diminishing the national dignity.