Roosevelt made a Cuba-style deal. His government would gain temporary control of Dominican finances (thus ensuring repayment of the debt to U.S. banks) in exchange for defending the Morales government from rebels and external enemies. U.S. interests would be protected, and the Dominican Republic would remain independent. The ploy was used repeatedly, in country after country around the Caribbean. The United States seized the levers of finance and trade but left sovereignty formally intact. “Dollar diplomacy” was the polite name for this, though “gunboat diplomacy” was the more accurate euphemism. To ensure political and financial “stability,” U.S. troops entered Cuba (four times), Nicaragua (three times), Honduras (seven times), the Dominican Republic (four times), Guatemala, Panama (six times), Costa Rica, Mexico (three times), and Haiti (twice) between 1903 and 1934. The United States helped to put down revolts, replaced governments when necessary, and offered battleships-in-the-harbor “advice” to others. But the only territory it annexed in that period was the U.S. Virgin Islands, peacefully purchased from Denmark in 1917.
Daniel Immerwahr in How to Hide an Empire