The_Open_Door_deel1

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independence and would free the country from the external threats
to its sovereignty. A U.S. loan which, as it was explicitly
recognized, would serve this goal was obtained by President
Howard (in 1917) after Liberia had declared war on Germany.
However, in 1921 the U.S.A. refused to honour this commitment -
as the international situation had changed since the granting of
the loan.
In view of this refusal and the seizure by France of some
Liberian villages the Firestone rubber company was given a
hearty - though not uncontested - welcome. The Liberian leaders
hoped that the economic interest resulting from Firestone's
investment in Liberia would provide political protection, by the
Government of the investor's country of origin. At the same time,
:' the nature of this investment made some political control
j imperative and the Firestone Concession Agreement (1926) was
j accompanied by a loan from the same source.
•I
However, also with this new investment the internal economic
•; development - aimed at (at least verbally) by so many Liberian
\ Administrations - did not take off. The Economic Depression of
| the 193O's largely contributed to this failure. During the period
j 1939 - 1945 the power in Liberia passed from President Edwin
] Barclay to President William Tubman. The latter introduced an
j ambitious Five-Year Development Plan for which, however, he
| lacked the financial means. This explains the Concession
j Agreement signed with a former U.S. Secretary of State, Mr.
I Stettinius, who had founded a company, The Liberia Company, for
j the ambitious role of developing the country (1947). The
: company's goals were virtually identical with those of the Five-
Year Development Plan mentioned.
j The concession agreement with Stettinius formed the third
important concession agreement of the country (after those with
Firestone and Christie) and marks the establishment of an Open
Door Policy which, however, was not of a political nature - as
• so much desired by President Arthur Barclay' - but had an economic
j character. The fact that the first "wave" of foreign investments
i was virtually limited to U.S. capital is explainable against the
I background of the historical relationship between the U.S.A. and
•; Liberia. As from the 1960's European capitalists showed
| increasing interest in investing in Liberia and concluded various
j concession agreements with the Liberian Government. The two main
j causes of this change were the U.S. dollar shortage in Europe and
the political decolonization of Africa. The latter phenomenon
: once and for all eliminated any need for an "Open Door Policy"
: which would provide protection against colonial imperialism.
The Tubman Administration (1944 - 1971), however, continued its
policy of "opening the country" to foreign capital and know-how.
After 1971 the subsequent Administrations did the same. However,
as will be seen later, this "Open Door Policy" was highly
1 selective and discriminatory. It discriminated between U.S. and
| European investors on the one hand, and African entrepeneurs on