Word: alessandris
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Chile was in the final phase. Confronted by a 20% budget deficit, a $718 million foreign-trade debt and an unemployment rate of 10%, President Jorge Alessandri's month-old "businessman's government" devalued the currency. Down 18% went the value of the peso, from 837 per dollar to 989, in the hope that such exports as steel and wine, thus cheapened, would rise proportionately...
...wage relentless war against the free-enterprise policies of Chile's conservative President Jorge Ales-sandri, against foreign (and specifically U.S.) investments. They pledged themselves to fight for the "national liberation" of Chile by adding to the popular front they have already formed with the Socialists. President Alessandri, who barely, beat Socialist Candidate Salvador Allende in September's election, will plainly have to deal with a threat that is growing faster than he could have guessed...
Businessman Alessandri offers Chile no such paradise. He believes in close economic ties with the West, a soundly managed private enterprise at home. He expects to run a strong government, one that will press for much-needed increases in production per worker without an inflationary jack-up in wages. One of his first goals is to reform the costly, featherbedding social-security system. And he also hopes to save some of Chile's vital copper income produced in times of high prices to tide the country over inevitable slumps in world copper markets...
...Nonsense World. The program is a tough one for any nation to follow, especially in Latin America. But Alessandri's credentials are convincing. A son of Chile's late great "Lion of Tarapacá," three-time President Arturo Alessandri, he grew up in a world of hardheaded business. He took over Chile's paper monopoly, ran it on the no-nonsense theory that what is good for the company is bound to be good for the workers, made both himself and his employees prosperous. Aside from a term as a Santiago Congressman when...
With four candidates splitting the vote as they did last week, there was no chance that Alessandri could poll more than 50% of the vote, as required by the constitution. Congress will have to choose between him and Runner-Up Allende within 50 days. But the voters clearly chose Businessman Alessandri, and Congress traditionally backs the people's choice...