William howard taft said, "this policy has been characterized as substituting dollars for bullets. it is one that appeals alike to idealistic humanitarian sentiments, to the dictates of sound policy and strategy, and to legitimate commercial aims."

The name of the policy that is referred by William Howard Taft is: Dollar Diplomacy

Dollar diplomacy is a way to exert a country's authority without military strength but rather with financial power. This method is carried out through business investments and trading