FOREIGN TRADE: Idealism, Inc.

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.

The 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:...

Want the full story?

Subscribe Now

Subscribe
Subscribe

Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on TIME.com

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!