Open Door
the principle of equal economic opportunity for all nations in such countries as China, Turkey, etc., where particular nations have attempted in the past to establish monopolies for themselves or their nationals. The prin- PERSIA ciple was asserted by the United States at the end of the nineteenth century, when Secretary Hay addressed the Powers in protest against the establishment in China of exclusive commercial and other rights within their so-called spheres of influence. In general, the Powers assented to the principle, which, however, remained largely unapplied in practice until given a new and more definite standing by the treaties and resolves concerning China agreed upon by the Washington Conference, February, 1922. At the Near Eastern Conference held at Lausanne, 1922-23, the American Government strongly demanded the acceptance of the principle of the open door in Turkey. The Turkish representatives expressed their approval, and the other Powers in general assented.
P PACKING INDUSTRY. (Packers and Stockyards Regulation Act.) An act regulating foreign and interstate commerce in live stock and its products and prohibiting dealings between packing companies, was passed by Congess January 24, 1921. Suits were instituted by the packers to test the constitutionality of this act, on the ground that the livestock business as conducted in stockyards was not of an interstate character and therefore not subject to federal regulation. The act, however, was declared constitutional by the U. S. Supreme Court, May 1, 1922.