Word: aramburu
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Dates: during 1950-1959
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...Austerocrats. Some hopeful signs are beginning to appear. Up against it, the sick nations of South America have begun to produce men of austerity and courage, who are insisting that their people tighten their belts for a return to realistic economies. President Pedro Aramburu of Argentina, an eloquent preacher of the gospel of higher productivity, has in the past two months successfully resisted three large-scale strikes for increased wages...
...Central Bank, converted by Perón into a tool for direct control of the economy, reverted by an Aramburu decree to its normal function of regulating credit; deposits of private banks, taken over in 1946 by the Central Bank, will be returned...
Again last week the unions dominated by former Dictator Juan Perón jousted with President Pedro Aramburu by staging a nation-wide general strike. Again Aramburu won the test by virtue of sound planning and unruffled firmness. To keep fhe threatened 48-hour walkout within bounds, he alerted 50,000 troops and policemen, more than were called out for last month's 24-hour stoppage (TIME, Oct. 7). He warned workers in advance that strikers could legally be fired, enlisted the support of 40 non-Peronista unions to denounce the strike as nothing more than a political maneuver...
...Aramburu thereupon turned back to fighting the painful inflation that makes politically inspired strikes so easy to call. For the past year labor has been caught with wages frozen while prices spiraled up 34%. Aramburu has stoutly refused to grant a wage boost that would redouble inflation. Instead, he has tried to persuade manufacturers and wholesalers to cut prices by cutting profits. After last week's strike he got strong and unexpected help when the influential Roman Catholic Church issued a pastoral letter that declared "business concerns, have a greater duty to reduce their profits than workers to forego...
...will was none too evident. Instead of settling down to work on the constitutional reforms-mostly curbs on the executive power, designed to prevent another Perón-the delegates erupted in squabbles. The Intransigent Radicals, hot after the Peronista vote, provided a casebook example of the demagoguery that Aramburu deplored by denouncing the assembly's legality. The chairman clamped down on the tirade, and the 77-man Intransigent bloc stormed out of the hall. And the 75-man bloc of the People's Radicals were too split among themselves to assume their hoped-for role of leadership...