Economic Effects of Foreign Loans and Concessions in Liberia

The Republic of Liberia, in Africa, celebrated its One Hundred years of Independence on the 26th of July 1947.On the 27th of September 1947 a remarkable joint press release was issued by the Liberian Secretary of State and Edward R. Stettinius, Jr., formerly Secretary of State of the United States, setting forth a plan for "The Liberia Company and the Liberian Educational Foundation." This plan calls for the comprehensive "development of Liberian natural resources; and the building of greater two-way trade between Liberia and the United States based on mutual benefit.".