The Monroe doctrine was never meant to be an excuse to collect debts for American or foreigners or a pretext to police unruly republics. With the exception of some Central American States there has never been a case in a hundred years when South America and Mexico could not cope successfully against foreign invaders. As far back as 1806-07 England attempted to conquer Argentina and Uruguay when they were still under Spanish rule. The Spaniards and the natives fought very bravely and repelled the invaders, who had already occupied Buenos-Ayres. The native South Americans did not intend to exchange masters and soon afterwards they overthrew the Spaniards. In the early forties France fought the Argentinian dictator Rozas, but after a two years’ war she was defeated. Later, in 1845, France and England pretended that Rozas should open the interior rivers to international navigation. Buenos-Ayres was blockaded and the war lasted for five years; but England and France were defeated. Brazil and Argentina tried to conquer the little republic of Paraguay. The war lasted five years (1865-70). The result was that forty-five per cent. of the male population was killed in battle, but Paraguay was not conquered. The Latin American republics feel that they can take care of themselves, and their nationality against their neighbors as well as against Europe. No matter what the ambitions, intentions or plans of conquests of certain European powers may be they know fully well that there is not the slightest chance for a permanent occupation by European armies, and that any conquest by any Asiatic or European nation is an absurd dream. It is understood that the Monroe doctrine was once a very useful moral protection, but it did not prevent attacks and occupation of South American territory by Spain, France and England. The only reason which interfered with the territorial designs of European powers was not the help of the United States, when it was most needed, but the heroic resistance of the Latin American nations themselves. The fear is rampant that the Monroe doctrine might be used as a pretext for aggression by the United States. Latin Americans follow this line of argument; the great American corporations can invest a great deal of money in South America. They can very easily send agents to foment revolutions which necessarily would destroy American property and then a pretext would be found for American intervention, as happened in Nicaragua. There is a very short step from temporary to permanent occupation, tending to create a very dangerous precedent in favor of American occupation in any country where there is a great deal of invested American capital.