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The Gazette
Cleveland, Cuyahoga County, Ohio
What is this article about?
The League of Nations Council in Geneva compelled Liberia to accept its economic rehabilitation plan without reservations, despite objections from President Edwin Barclay and Secretary of State Louis Arthur Grimes. Firestone agreed to reduce interest on a $2.5M loan from 1926, with a five-year international commission to oversee reforms.
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Geneva, Switzerland.—The League of Nations Council, last week, told Liberia, W. Africa, flatly it must accept the Council's plan for economic rehabilitation of the country without modifications. On behalf of the government, President Edwin Barclay had advised the Council that the Legislature accepted the plan—subject to reservations. Opinion in the Council was that the reservations might destroy essentials of the program, but the text has not been received here. Firestone rubber interests of Akron, O., promised to reduce the interest rate on a loan of $2,500,000 made the republic in 1926 if the plan was approved. Under the plan, adopted last fall, an international commission (white) would supervise administrative and financial reorganization of the African republic for a five-year period. This country supported the movement. During discussion of the program, Louis Arthur Grimes, secretary of state of Liberia, objected to a provision for appointment of an advisor to supervise carrying out of the plan, contending it would make him a virtual dictator.
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Foreign News Details
Primary Location
Liberia, W. Africa
Event Date
Last Week
Key Persons
Outcome
liberia must accept the plan without modifications; firestone to reduce interest rate on $2,500,000 loan from 1926; international commission to supervise for five years
Event Details
The League of Nations Council told Liberia it must accept the economic rehabilitation plan without modifications, despite the Legislature's acceptance subject to reservations. Firestone promised reduced interest on a 1926 loan if approved. The plan includes a white international commission supervising administrative and financial reorganization for five years. Grimes objected to an advisor provision as dictatorial.