FRANK OLIVER: In nineteen-oh-four, France and Britain signed an agreement on North Africa. The agreement gave Britain control over Egypt. It gave France responsibility for security and reforms in Morocco. Germany opposed the agreement. It felt threatened by any French-British alliance. And it feared France would block German trade ties with Morocco.

Germany demanded an "open door" policy that would permit all countries to trade freely in Morocco. It proposed an international conference to settle the dispute. France and Britain rejected the idea. The ruler of Germany, Kaiser Wilhelm the Second, warned that the dispute could lead to war. The Kaiser asked Theodore Roosevelt to intervene.

SHIRLEY GRIFFITH: President Roosevelt agreed to help. Some American lawmakers criticized him. They said it was an American tradition not to get involved in European disputes. But Roosevelt believed peace was more important than tradition. He set up the conference in the Spanish seaport of Algeciras. Twelve European nations and the United States attended.

The conference agreed to an open door trade policy in Morocco. It organized an international bank to control Morocco's finances. And it gave France and Spain almost complete control over police forces in Morocco's port cities.

FRANK OLIVER: Theodore Roosevelt had become a powerful world leader. At home, however, he was losing power.

One reason was an economic depression. Business leaders blamed it on Roosevelt. They said it was the result of his efforts to gain government control over industry. The other reason was one he had created himself.