1930 to 1956 · Haitianspan
Four presidents sign with American banks without counting the cost
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The bourgeoisie emerged from the occupation with no programme beyond opening the country to foreign investment and continuing to grow raw materials for export. The book names the sequence of presidencies, Vincent from 1930 to 1941, Lescot from 1941 to 1946, Estime from 1946 to 1950 and Magloire from 1950 to 1956, and says each engaged in many transactions with American banks and made significant concessions to American companies without seriously assessing short or long term costs and benefits. The argument is structural rather than biographical. Having failed in the nineteenth century to build a domestic base of accumulation, the class had accepted its own marginal status and looked to foreign capital to act as the prime motor of growth, instead of reducing dependence by creating national industries. The colour conflict that reopened after the occupation is set inside that constraint.