Around the Caribbean, however, were several nations not only unwilling but unable to pay their debts. This inability was not due to the fact that national resources were lacking, but that constant revolution scared away conservative capital from seeking constructive investment or from developing their natural riches, while speculators loaned money at ruinous rates of discount to tottering presidents, gambling on the possibility of some turn in fortune that would return them tenfold. The worst example of an insolvent and recalcitrant state was the Dominican Republic, whose superb harbors were a constant temptation to ambitious powers willing to assume its debts in return for naval stations, and whose unscrupulous rulers could nearly always be bribed to sell their country as readily as anything else. In the case of this country President Roosevelt made a still further extension of the Monroe Doctrine when, in 1905, he concluded a treaty whereby the United States agreed to undertake the adjustment of the republic's obligations and the administration of its custom houses, and at the same time guarantee the territorial integrity of the republic. This arrangement was hotly attacked in the United States as an indication of growing imperialism, and, though it was defended as necessary to prevent the entrance of new foreign influences into the Caribbean, the opposition was so strong that the treaty was not accepted by the Senate until 1907, and then only in a modified form with the omission of the territorial guarantee. For the United States thus to step into a foreign country as an administrator was indeed a startling innovation. On the other hand, the development of such a policy was a logical sequence of the Monroe Doctrine. That it was a step in the general development of policy on the part of the United States and not a random leap is indicated by the manner in which it has been followed up. In 1911 treaties with Nicaragua and Honduras somewhat similar to the Dominican protocol were negotiated by Secretary Knox but failed of ratification. Subsequently under President Wilson's Administration, the treaty with Nicaragua was redrafted and was ratified by both parties. Hayti, too, was in financial difficulties and, at about the time of the outbreak of the Great War, it was reported that Germany was about to relieve her needs at the price of harbors and of control. In 1915, however, the United States took the island under its protection by a treaty which not only gave the Government complete control of the fiscal administration but bound it to "lend an efficient aid for the preservation of Haitian independence and the maintenance of a government adequate for the protection of life, property, and individual liberty."