Good Neighbor Policy – Roosevelt inaugurated a new era in relations with Latin America. His act of giving up the Philippines and noninvolvement in Europe, and embracement of the Americas, seemed to show that America was giving up its ambition to be a world power and would content itself instead with being merely a regional power. With the Great Depression, there was now fewer dollars to be protected by the marines, and with war-thirsty dictators taking up arms in Europe and Asia, Roosevelt was eager to line up the Latin Americans to help defend the Western Hemisphere. Embittered neighbors would be potential tools of transoceanic aggressors. Late in 1933, at the Seventh Pan-American Conference in Montevideo, Uruguay, the US delegation formally endorsed nonintervention. The last marines departed from Haiti in 1934, while Cuba was released from the Platt Amendment. The tiny country of Panama was also set free. The Good Neighbor policy was tested when Mexico seized American oil properties in 1938, but Roosevelt resisted calls for an armed reaction, was made a settlement in 1941.