Liberian Government Grants Concession to Firestone for Rubber Production

In 1926, the Liberian government entered into a significant agreement with Firestone, an American rubber company, granting it a concession to establish the world's largest rubber plantation in Harbel, Liberia. This strategic move was aimed at boosting the country's economy through the cultivation of rubber, which was in high demand globally. Alongside this concession, Firestone facilitated a $5 million private loan to Liberia, which was intended to support the nation's development. However, by the 1930s, the economic landscape shifted dramatically, leading Liberia to become heavily reliant on an assistance plan from the League of Nations. This plan included the appointment of two key officials from the League to advise the Liberian government, highlighting the challenges the country faced in managing its economic affairs. The Firestone concession not only transformed Liberia's agricultural sector but also had lasting implications for its political and economic sovereignty, as the nation navigated the complexities of foreign investment and dependency during a tumultuous period in its history.