The_Open_Door_deel1

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However, before he could realize any of his far-reaching and overambitious
plans in Liberia, Edward Stettinius died and the whole
enterprise took a different turn from that which was planned in
1947. The Stettinius Associates-Liberia, Inc. was bought by a
newly organised Delaware company, the Liberian Development
Corporation, in which Pan American World Airways' founder, Juan
Trippe, acquired a substantial shareholding, and a new agreement
was signed between the Liberian Government and The Liberia
Company in December 1949, reconsidering the decisions of 1947.
It was believed by the two parties that
"revisions in the Statement of Understanding would be
desirable to conform to their experience subseque.nt to
its execution, to limit and curtail the scope and the
duration thereof as well as to reduce and limit the
responsibilities and obligations of the Liberia Company
under the terms and conditions of the Statement of Understanding
and to clarify and define the Statement of Understanding
in certain respects." (7)
In lieu of the wide range of projects referred to in the 1947
Statement of Understanding The Liberia Company's activities
under the Revised Agreement were now limited to:
1 . Planting, collection, processing, and marketing of cocoa,
coffee, palm products and incidental agricultural products;
2. Acting as the official purchasing agent of the government;
3; •Extraction, processing, purchasing and sale of gold, diamonds,
petroleum and other metals and minerals except iron ore;
4. Such other projects as have already been initiated pursuant
to the Statement of Understanding; and
5. Such other suitable projects as may be incorporated in this
(revised) agreement of understanding by future agreement
between the parties.
In view of the agricultural activities envisaged, The Liberia
Company acquired the right to lease an area of land of up to
150,000 acres at a rental of six cents per acre per year for a
period of forty years, with an option to more acres if all 150,000
acres would have been brought under cultivation. The company also
became entitled to 150,000 acres in accordance with its rights
mentioned under (3) above, for a period of forty years too, though
in this case the rental would be one dollar per acre per year.
However, if the government were to grant to any other foreign
company a mining lease for a yearly rental of iess than one dollar
an acre, The Liberia Company would be entitled to the same
treatment (this provision resembles again the "most favoured
nations clause" of the original Open Door Policy).
Royalties to be paid by The Liberia Company would be of general
application during the term of the agreement, but were not to
exceed 15? of the sales price of all precious metals, minerals or
petroleum, 10? of the sales price for all semi-precious metals or
minerals and 5? of the sales price for all basic metals and
minerals, provided that the company would at no time be required to
pay a higher royalty than any other foreign company operating in
Liberia. With respect to The Liberia Company acting as the official