Although Americans made a major contribution to the founding of the Liberian nation in 1822, it was over one hundred years later before the United States acquired a tangible economic stake in the West African republic. The change took place in 1926, when the Liberian Government granted a major rubber concession to the Firestone Tire and Rubber Company and accepted a large loan from one of Firestone's subsidiaries. The Liberian Government had teetered on the verge of bankruptcy several times since the eighteen sixties, when Liberia's export trade in coffee and other tropical products had seriously declined. In 1906 and 1912, bankers' loans had shifted control of Liberia's customs revenues to foreign hands. 2 But the Liberian Government's turn towards Firestone in 1926 was more than another desperate effort to save the nation from bankruptcy. The Government' s chief aim was to secure the nation's borders from French and British encroachments. In December, 1926, in order to secure the long-run protection that it hoped would accrue from a permanent American investment in Liberia, the Liberian Legislature approved a bill that was the sine qua non of Firestone's Liberian project. 3