Word: agrarian
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Says E. Peter Gillette Jr., vice chairman of Minneapolis' Norwest Corp.: "Perhaps the philosophy is an agrarian holdover-the populists against the pinstripers." Small banks in the West have discovered one innovative way to survive: by renting the name and services of Los Angeles-based First Interstate ($41 billion). The owner of 21 banks in eleven Western states, First Interstate is on its way to becoming the McDonald's of banking. In return for paying a franchising fee, local banks are given the right to use the First Interstate name and are provided with a series...
...Aubuisson has played skillfully on both sides of the land-reform issue. Despite his grandstanding act of handing over land titles at Parra Lempa, D'Aubuisson and ARENA fought hard to limit the size of Salvadoran holdings that could be expropriated under the agrarian reform for peasant...
...reverse the decline in living standards from which Central America now suffers. Although as the panel points out, much of Central America's future depends on the policies it adopts U.S. assistance is vital in providing the region with a head start. Washington should continue its support for agrarian reform which will lessen the power of local oligarchies and offer the peasant some hope of livelihood. In addition, the U.S. should be generous in supplying technical and monetary aid in helping the Central American nations diversity their agricultural sector so as to make countries more self-sufficient for food...
Another 10% of the aid is contingent on the continued progress of El Salvador's ambitious agrarian-reform program, which both the Carter and Reagan Administrations have promoted as a bulwark against Communism. Congress will have to decide whether the constitutional provision passed last week gutted land reform, as some Salvadoran moderates and U.S. labor leaders suspect, or merely modified...
...Agrarian reform was to have taken place in three stages, each providing for purchase, not expropriation, of farm land. The first phase, under which the country's largest farms were turned into peasant-run cooperatives, is complete. Phase 2 had called for giving medium-size plantations to peasant farmers. Under the new Salvadoran law, however, Phase 2 was substantially diluted: the current owners may keep almost 60% of the land that was to be redistributed, and a loophole could let them sell the remainder to family-held corporations...