The Drago Doctrine was announced in 1902 by the Argentine

Argentina

Argentina , officially the Argentine Republic , is the second largest country in South America by land area, after Brazil. It is constituted as a federation of 23 provinces and an autonomous city, Buenos Aires...

 Minister of Foreign Affairs Luis María Drago

Luis Maria Drago

Luis María Drago was an Argentine politician.Born into a distinguished Argentine family in Buenos Aires, Drago began his career as a newspaper editor. Later, he served as a minister of foreign affairs...

. Extending the Monroe Doctrine

Monroe Doctrine

The Monroe Doctrine is a policy of the United States introduced on December 2, 1823. It stated that further efforts by European nations to colonize land or interfere with states in North or South America would be viewed as acts of aggression requiring U.S. intervention...

, it set forth the policy that no foreign power, including the United States

United States

The United States of America is a federal constitutional republic comprising fifty states and a federal district...

, could use force against an American

Americas

The Americas, or America , are lands in the Western hemisphere, also known as the New World. In English, the plural form the Americas is often used to refer to the landmasses of North America and South America with their associated islands and regions, while the singular form America is primarily...

 nation

Nation

A nation may refer to a community of people who share a common language, culture, ethnicity, descent, and/or history. In this definition, a nation has no physical borders. However, it can also refer to people who share a common territory and government irrespective of their ethnic make-up...

 to collect debt

Debt

A debt is an obligation owed by one party to a second party, the creditor; usually this refers to assets granted by the creditor to the debtor, but the term can also be used metaphorically to cover moral obligations and other interactions not based on economic value.A debt is created when a...

. It was supplanted in 1904 by the Roosevelt Corollary

Roosevelt Corollary

-Background:In late 1902, Britain, Germany, and Italy implemented a naval blockade of several months against Venezuela because of President Cipriano Castro's refusal to pay foreign debts and damages suffered by European citizens in a recent Venezuelan civil war. The incident was called the...

.

It grew from the ideas expressed by Carlos Calvo in Derecho internacional teórico y práctico de Europa y América, commonly known as the Calvo Doctrine

Calvo Doctrine

The Calvo Doctrine is a foreign policy doctrine which holds that jurisdiction in international investment disputes lies with the country in which the investment is located. The Calvo Doctrine thus proposed to prohibit diplomatic protection or intervention before local resources were exhausted...

. The Calvo Doctrine proposed to prohibit diplomatic intervention before local resources were exhausted.

The Drago Doctrine itself was a response to the actions of Britain, Germany, and Italy, who had blockaded and shelled ports in response to Venezuela

Venezuela

Venezuela , officially called the Bolivarian Republic of Venezuela , is a tropical country on the northern coast of South America. It borders Colombia to the west, Guyana to the east, and Brazil to the south...

's massive debt, acquired under president Cipriano Castro

Cipriano Castro

José Cipriano Castro Ruiz was a high ranking member of the Venezuelan military, politician and the President of Venezuela from 1899 to 1908...

. A modified version by Horace Porter

Horace Porter

Horace Porter, was an American soldier and diplomat who served as a general in the Union Army during the American Civil War....

 was adopted at the Hague

The Hague

The Hague is the capital city of the province of South Holland in the Netherlands. With a population of 500,000 inhabitants , it is the third largest city of the Netherlands, after Amsterdam and Rotterdam...

in 1907, adding that arbitration and litigation should always be used first.