Final answer:
The Monroe Doctrine was initially targeted at deterring European colonization and interference in the Americas, aiming to safeguard Latin American independence. The Roosevelt Corollary, however, expanded the doctrine, giving the U.S. the right to intervene with police power in Latin America, indicating a shift towards American dominance. This policy shift was seen by some as veiled imperialism and set the stage for future American foreign policy.
Step-by-step explanation:
The Monroe Doctrine, formulated by President James Monroe in 1823, warned European powers against further colonization and interference in the affairs of the Western Hemisphere. It was a declaration intended to protect the independence of Latin American nations and to prevent European re-colonization. However, the subsequent Roosevelt Corollary, pronounced by President Theodore Roosevelt in 1904, marked a shift in American foreign policy. Roosevelt proclaimed that the U.S. had the right to intervene in Latin American countries experiencing financial instability or political turmoil to exercise an international police power, hence extending the Monroe Doctrine.
This interventionist stance taken by Roosevelt could suggest that the Monroe Doctrine was not solely about guaranteeing independence but could be seen as a measure to establish American dominance in the Western Hemisphere. Latin Americans criticized the Roosevelt Corollary as a form of American imperialism. Additionally, Roosevelt secured the Panama Canal's construction to enforce the Monroe Doctrine, preventing foreign powers from establishing Caribbean bases and confirming U.S. intervention rights in Latin America.
The evolution of the Monroe Doctrine through the Roosevelt Corollary indicates a complex mix of promoting independence while simultaneously ensuring American dominance over the hemisphere's affairs, as it set the precedent for American foreign policy for years to come until the introduction of the "Good Neighbor Policy" in the 1930s.