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60 allow anybody to entail any formula on me that would fetter my judgment of questions and cases which may arise. There is, however, a parallel to the Monroe doctrine which is far closer both in history and philosophy than the balance-of-power doctrine, and that is the colonial policy as it has been described in this paper. It has been shown how, historically and in obedience to the strongest forces which work upon the social and industrial organization, the opening-up of the outlying continents produced great movements of commerce and great redistributions of population. The colonial policy of the governments was an application of statecraft and diplomacy to the situation. The earth was drenched in blood through the eighteenth century in obedience to that policy. It has also been shown how the Monroe doctrine and the Panama Congress were parts of a grand movement which marked the definite end of the colonial policy as to America. So far, good; but now out of the end of that period springs up a source of new woe. The Monroe doctrine as often interpreted really amounts to a new doctrine that the globe is to be divided into two independent halves, the eastern and the western. This doctrine is to take the place of the doctrine that the globe is a unit ruled from and by Europe. Is the new doctrine any better than the old one? Is it any more tenable? Is it not certain to take the place of the old one as the fetish for which our children must spend their blood and their property as our fathers did for the old colonial system? Is it anything but an affectation, a pose which cannot be maintained except for a time and for a purpose, to say that we will control this continent and refrain from meddling in the other? Does the United States intend to abstain from forming relations of all kinds with the nations of the eastern continents as her interests