powers is essentially different in this respect from that of
America. This difference proceeds from that which exists in their
respective Governments; and to the defense of our own, which has been
achieved by the loss of so much blood and treasure, and matured by the
wisdom of their most enlightened citizens, and under which we have
enjoyed unexampled felicity, this whole nation is devoted. We owe it,
therefore, to candor and to the amicable relations existing between the
United States and those powers to declare that we should consider any
attempt on their part to extend their system to any portion of this
hemisphere as dangerous to our peace and safety. With the existing
colonies or dependencies of any European power we have not interfered
and shall not interfere. But with the Governments who have declared
their independence and maintained it, and whose independence we have,
on great consideration and on just principles, acknowledged, we could
not view any interposition for the purpose of oppressing them, or
controlling in any other manner their destiny, by any European power in
any other light than as the manifestation of an unfriendly disposition
toward the United States."

The message made a profound impression on the world, all the more
profound for the fact that Canning's interview with Polignac was known
only to the chancelleries of Europe. To the public at large it
appeared that the United States was blazing the way for democracy and
liberty and that Canning was holding back through fear of giving
offense to the allies. The governments of Europe realized only too
well that Monroe's declaration would be backed by the British navy, and
all thought of intervention in Latin America was therefore abandoned.
A few months later England formally recognized the independence of the
Spanish-American republics, and Canning made his famous boast on the
floor of the House of Commons. In a speech delivered December 12,
1826, in defense of his position in not having arrested the French
invasion of Spain, he said: "I looked another way--I sought for
compensation in another hemisphere. Contemplating Spain, such as our
ancestors had known her, I resolved that, if France had Spain, it
should not be Spain _with the Indies_. I called the New World into
existence to redress the balance of the Old."

III

THE MONROE DOCTRINE AND THE EUROPEAN BALANCE OF POWER

President Monroe said in effect that the western hemisphe