The Act was enacted in August 18, 1856. At that time, many of the islands in Caribbean/pacific territories were not affiliated with any government.
The act allowed citizens of United States to claim any lands within these regions that contain Guano deposits.
This made a lot of weapon and agricultural producers claimed new islands in the pacific since Guana can be used as a material for gun powders and soil fertilizer.
Mexico is the only country that shares a northern border with the United States, as well as a southern border with the Latin American countries listed in your question.
C. The economist that most supported the idea that government should spend money to help fuel economic growth during periods of economic crisis is John Maynard Keynes