A week passed with no message.

Holleben called on the President but rose to go without mentioning Venezuela.

President Roosevelt thereupon informed the Ambassador that he had changed his mind and had decided to send Admiral Dewey one day earlier than originally planned; he further explained that in the event the Kaiser should decide to arbitrate, as not a word had been put on paper, there would be nothing to indicate coercion.

Within thirty-six hours Holleben reported that Germany would arbitrate.

Only once before, when Seward was dealing with Napoleon III concerning Mexico, had forcible persuasion been used to maintain the Monroe Doctrine.
It was perfectly clear that if the United States sat idly by and allowed European powers to do what they would to collect their Latin American debts, the Monroe Doctrine would soon become a dead letter.