How was Elihu Root awarded the Nobel Prize Peace?

Name: Elihu Root.
Country: United States.
Date of Birth: 15 February 1845.
Died: 7 February 1937.
Education: Hamilton College (BA, MA), New York University (LLB).
Known as: 41st United States Secretary of War, 38th United States Secretary of State.
Noble Prize Year: Nobel Prize for Peace in 1912, for better understanding between the countries of North and South America and for initiating important arbitration agreements between the United States and other countries.