While, however, the Monroe Doctrine served to maintain the appearance of independence for the nations concerned, it produced an _impasse_ in the development of the frontier. Capital did not have to go to countries which could not be relied upon to pay up and which were protected from foreclosure by an outside force. The United States served the republics in somewhat the same manner that it did its own repudiating states. It was, however, unable to do as much for them as it did for its own. The wayward republics found themselves debarred from directing their own development as did our states in the critical forties, and there was no domestic capital to undertake the task. The capital willing to engage in work under such circumstances was that of the most speculative sort. Some gamblers staked their money on presidential contenders, seeking to gain control of the government. Others, more powerful and trusting in their power, offered to embark huge sums on condition of receiving stupendous grants of the natural resources and practical control of the whole development to be made in certain regions. Such was the much-discussed Morgan syndicate proposal to Honduras, and that of the English Pearson syndicate to Columbia. In the latter instance, the United States again intervened, fearing the influence of such aggregations of foreign capital, and expressed its opinion that such special concessions violated the spirit of the Monroe Doctrine and could not be allowed. From the tightening deadlock thus produced, Diaz extricated Mexico for a time, but it lapsed, and the others showed no signs of the power to emerge. Such European capital as had been loaned felt not unjustly angry, such as was for hire sought other avenues and frontiers less peculiarly hedged in. The situation shouted for action, and action could come only from the United States, which would not permit simple logic to work its own conclusion. It was under such circumstances that President Roosevelt assumed the financial administration of San Domingo and inaugurated a policy which has been followed and extended by his successors. Justice, or approximate justice, has been done between debtor and creditor, but the active development of these frontiers is still halted for lack of a machinery for the future.