Wholesale participation in the economic affairs of the world has come to the United States with comparative suddenness. Vast forces, hitherto felt but faintly, now assert their place in American life and press for expression through the channels of diplomacy. There are urgent reasons why these new phenomena should be carefully studied. Their significance in the affairs of our country and, indeed, their importance in the future of western civilization are too obvious for comment. The difficult task is here attempted of assembling from a literature, that is often filled with partisan criticism and official defense, an objective account of the economic foreign policies of the United States.
Much assistance has been received, and a general acknowledgment must suffice to express my gratitude for the many aids and suggestions which have come from a multitude of sources. The courtesy and spirit of helpfulness on all sides have been encouraging and are deeply appreciated. More particularly, thanks are due to the editors of the Political Science Quarterly for their permission to use an article by myself on "Capital Embargoes," which was published in the issue of the Quarterly for June, 1928. This article appears as Chapter V. Several members of the faculty of the University of Pittsburgh have been patient enough to read portions of the manuscript and they have all given valuable suggestions. Howard C. Kidd, Marion K. McKay, Robert L. Jones, and my colleagues in the Political Science Department, Elmer D. Graper, Ralph S. Boots, Martin L. Faust, Gustav L. Schramm, and James C. Charlesworth, have assisted in this way. They have been particularly kind in giving suggestions with regard to imperfections in the various chapters. The defects of fact and judgment which remain are, of course, to be charged against myself alone. Dr. Raymond Leslie Buell generously permitted me to see the proofs of his valuable chapters on Liberia in "The Native Problem in Africa," before that work