Word: liberia
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Edward R. Stettinius Jr. might well have imagined himself back in the Secretary of State's office. As newsmen trooped into a press conference with him in a grey-carpeted suite in Manhattan's Savoy-Plaza, he was flanked by a three-man Government mission from Liberia. But this time he had a business deal to announce: a $1,000,000 partnership between U.S. financiers and the Negro republic...
...deal to develop Liberia by stimulating trade was a mixture of free-trading idealism and hardheaded business. With an eye on all the backward countries of the world, Stettinius said: "With our technique and know-how, it just isn't necessary for them to live poorly. I would not, personally, be doing this on a purely commercial basis...
...supply the capital and know-how, Stettinius formed Stettinius Associates with such big wheels as General Electric's Chairman Philip D. Reed, ex-Under Secretary of State Joseph C. Grew and Admiral William F. Halsey. They will raise $1,000,000 in capital to form the Liberia Co., jointly owned with the Liberian Government. This company, in turn, will form up to 20 different subsidiaries to develop Liberia's iron ore, cocoa, lumber and other resources...
...endow the Liberian Educational Foundation. As each subsidiary develops, the foundation will set up an industrial training program within the new industry. As the foundation's income increases, it will finance the training of Liberians in U.S. medicine and technology and ultimately help create a University of Liberia...
That to me is a pretty fascinating story. And why, 100 years later, has the President of Liberia the same name? Is President Tubman a descendant? Or did one of the freed Negroes who went to Liberia take the name of a woman who must have been to them something of a saint? Whatever it is, TIME should supply this missing link...