We […] 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 […] we could not view any interposition [interference] for the purpose of oppressing them […] by any European power in any other light than as the manifestation of an unfriendly disposition toward the United States.” —President James Monroe, December 2, 1823
From what act or statement is this quotation excerpted? In your own words, what did Monroe declare in this statement, and what was its effect?