# Allen Yancy

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{{Short description|Liberian politician (1881–1941)}}
'''Allen N. Yancy''' (1881–1941) was the 20th [vice president of Liberia](/source/vice_president_of_Liberia) from 1928 to 1930 under President [Charles D. B. King](/source/Charles_D._B._King). He was forced to resign in 1930 following his involvement with forced labor exported to the Spanish-controlled island of Fernando Po (in today's Equatorial Guinea).

==Presidential election of 1927==
The 1927 elections had two major issues: the use of foreign capital in Liberia, and the "Open Door Policy".<ref name = election>[http://www.liberiapastandpresent.org/1927ElectionsMF.htm "The 1927 Presidential Election."] {{Webarchive|url=https://web.archive.org/web/20171120205806/http://www.liberiapastandpresent.org/1927ElectionsMF.htm |date=2017-11-20 }} From ''liberiapastandpresent.org'' Retrieved 24 February 2013.</ref> The use of foreign capital in the development of the county had been a controversial issue in Liberia for many years, and continued when negotiations with [Harvey Firestone](/source/Harvey_Firestone) led to the Firestone Concession Agreement in 1926.<ref name = king>[http://www.liberiapastandpresent.org/1926FirestoneCA.htm 1926 Firestone Concession Agreement] {{Webarchive|url=https://web.archive.org/web/20180119001654/http://www.liberiapastandpresent.org/1926FirestoneCA.htm |date=2018-01-19 }} From ''liberiapastandpresent.org'' Retrieved 24 February 3l2013.</ref> The [United Kingdom](/source/United_Kingdom), which dominated the world [rubber](/source/rubber) industry following [World War I](/source/World_War_I), enacted policies to limit the rubber supply in response to a sharp drop in prices following the war.<ref name = king/> Called The [Stevenson Plan](/source/Stevenson_Plan), it went into force on 1 January 1922. The Stevenson Plan was hurtful to the [United States](/source/United_States) economy, as the increase of a penny per pound of rubber would mean a loss of $8 million.<ref name = king/> Firestone, angered by Britain's policies, was determined to find a way for America to grow its own rubber. Liberia was very suitable for rubber production due to its [tropical](/source/Tropical_climate), [humid](/source/humidity) climate, and Firestone began making a series of agreements with Liberia to acquire land and eliminate Liberia's debts to Great Britain, culminating in the agreement of 1926.<ref name = king/> The agreement, which Firestone called "the greatest concession of its kind ever made", gave him virtually no tax obligations to Liberia, and exclusive land rights to about 10% of the country's [arable](/source/arable_land) land. The Liberian government, on the other hand, obligated themselves to a 5 million dollar loan from Firestone through his [wholly owned subsidiary](/source/wholly_owned_subsidiary), the Finance Corporation of America. An American financial advisor appointed by the United States controlled Liberia's finances and approved the country's annual budget. These concessions, which practically made Liberia a [protectorate](/source/protectorate) of the United States, were opposed both inside and outside the country.<ref name = king/>

==References==
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{{succession box|title=[Vice President of Liberia](/source/Vice_President_of_Liberia)|before=[Henry Too Wesley](/source/Henry_Too_Wesley)|after=[Clarence Simpson](/source/Clarence_Simpson)|years=1928&ndash;1930}}
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Category:Americo-Liberian people
Category:1941 deaths
Category:Vice presidents of Liberia
Category:1881 births
Category:20th-century Liberian politicians
{{Liberia-politician-stub}}

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Adapted from the Wikipedia article [Allen Yancy](https://en.wikipedia.org/wiki/Allen_Yancy) by Wikipedia contributors ([contributor history](https://en.wikipedia.org/wiki/Allen_Yancy?action=history)). Available under [Creative Commons Attribution-ShareAlike 4.0 International](https://creativecommons.org/licenses/by-sa/4.0/). Changes may have been made.