Word: bolivia
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Dates: during 1950-1959
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...back in 1868, so the story goes, Queen Victoria settled the Bolivia problem in her own imperious way. General Mariano Melgarejo, the Bolivian dictator of the day, had urgently invited the British Minister to attend a reception in honor of the general's new mistress. When the diplomat frostily declined, the affronted dictator had him tied aboard a donkey, facing aft, and trotted him three times around the main square of La Paz. The minister fled home and told Queen Victoria of the outrage. "Where is Bolivia?" the Queen demanded. A map was brought and the Queen was tactfully...
Last week the picturesque, landlocked mountain republic of Bolivia was back on the map as never before in its obscure but violent 127-year history. Climaxing a long and bloody struggle, a new revolutionary government had nationalized the country's three big tin companies and placed their mines under a new, government-run Bolivian Mining Corp. It was the most important act of nationalization in Latin America since Mexico seized the foreign oil companies in 1938. For better or for worse, it made the nationalist government of President Victor Paz Estenssoro the most important since SimÓn Bolivar...
...Hand That Feeds. The audacity of the nationalization act, say Bolivia's superheated nationalists, was equaled only by the necessity for it. Determined to assert the fact of their nationhood, they are willing to risk biting off the hand that feeds them. Tin pays for 50% of the food that they must now import from abroad. It is the foundation of their teetering economy, source of 80% of their foreign exchange and almost half of their government revenue. And for years Bolivian tin-and Bolivia itself-has been dominated by the three expropriated companies: Patiәo, Hochschild, Aramayo...
...benefits if they will keep on working for the government's newly constituted Bolivian Mining Corp. But coming to terms with the tin barons and their experts may not be the President's toughest problem. Speaking to the miners at Catavi last week, Labor Boss Juan Lechin, Bolivia's left-wing Minister of Mines, said: "Nationalization must be carried out without payment to the thieving tin barons." Now, more than ever, Paz Estenssoro's chances of bringing off a miracle, of taking over tin without wrecking his country's precarious economy, depended on his ability...
...government in Bolivia took over his mines under a nationalization decree (see HEMISPHERE), Bolivian Tin King Antenor Patińo was in Manhattan in the process of being parted from some of his fortune. A few hours before he planned to fly to Paris, he was haled into court by his Spanish-born wife and charged with being $400,000 behind in support payments. She wanted a settlement before he left the country. "I'm going to ... Paris this afternoon," pleaded Patińo. "No, you're not," snapped the judge. "You're going to city prison...