The Monroe Doctrine, put forth in 1823 by President James Monroe, called for an end to European intervention in the American continents (both north and south). This applied only to independent governments in the Americas however, not to areas that were colonies at that time.

In what came to be known as the Roosevelt Corollary to the Monroe Doctrine, Roosevelt asserted that European nations should not intervene in countries to the south of the US, however under certain conditions, United States intervention might be justified.

"There are certain essential points which must never be forgotten as regards the Monroe Doctrine. In the first place we must as a nation make it evident that we do not intend to treat it in any shape or way as an excuse for aggrandizement on our part at the expense of the republics to the south. We must recognize the fact that in some South American countries there has been much suspicion lest we should interpret the Monroe Doctrine as in some way inimical to their interests, and we must try to convince all the other nations of this continent once and for all that no just and orderly government has anything to fear from us. There are certain republics to the south of us which have already reached such a point of stability, order, and prosperity that they themselves, though as yet hardly consciously, are among the guarantors of this doctrine. These republics we now meet not only on a basis of entire equality, but in a spirit of frank and respectful friendship, which we hope is mutual. If all of the republics to the south of us will only grow as those to which I allude have already grown, all need for us to be especial champion of the doctrine will disappear, for no stable and growing American republic wishes to see some great non-American military power acquire territory in its neigborhood. All that this country desires is that the other republics on this continent shall be happy and prosperous; and they cannot be happy and prosperous unless they maintain order within their boundaries and behave with a just regard for their obligations toward outsiders. (Fifth Annual Message, Washington, December 5, 1905.) Mem. Ed. XVII, 352-353; Nat. Ed. XV, 301-302.

More of Theodore Roosevelt's writing and speeches on the Monroe Doctrine

What has become known as the Monroe Doctrine was included as part of President James Monroe's message to Congress, during his second term on Dec. 2, 1823.

"...that the American continents, by the free and independent condition which they have assumed and maintain, are henceforth not to be considered as subjects for future colonization by any European power.

. . . In the wars of the European powers in matters relating to themselves we have never taken any part, nor does it comport with our policy so to do.

It is only when our rights are invaded or seriously menaced that we resent injuries or make preparation for our defense. With the movements in this hemisphere we are of necessity more immediately connected, and by causes which must be obvious to all enlightened and impartial observers.

The political system of the allied 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.”