Word: bolivia
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Dates: during 1950-1959
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...windswept field near Bolivia's big Catavi tin mine, President Victor Paz Estenssoro stepped to a rude table one day last week and with a golden pen signed the decree nationalizing the country's three big tin companies. Twenty thousand black-shawled women and tin-helmeted men yelled vivas. A leather-jacketed Indian stepped to the President's side and sounded the ancient Inca battle call on a curved bull horn. That night bonfires burned all over the Bolivian Andes, and the cobbled streets of La Paz echoed with the din of jubilant partisans firing...
Time to Explain. The tin decree, climaxing long years of bloody struggle, was the most important act of nationalization in Latin America since Mexico expropriated its foreign oil companies in 1938. The three nationalized companies-Patińo,* Hochschild, Aramayo-produce 72% of the country's tin. Though Bolivia now mines only 15% of the world's tin, it still accounts for virtually all that is produced in the Western Hemisphere. And tin is still backward Bolivia's one cash crop, providing 80% of the country's foreign exchange. Last week's decree...
...nationalization of Bolivia's three big tin companies, the revolutionary government handed them a whopping $520 million bill. The government claimed that the companies had made illegal profits by juggling foreign exchange accounts and evading income taxes...
When W. Stuart Symington was RFC administrator, he resolutely refused to place Government orders for tin at the sky-high prices that the U.S. had been paying in the world markets. In less than three months tin plummeted from $1.50 to $1.06 a Ib. Though Bolivia and other tin producers protested vehemently, the U.S. has since been able to buy tin for $1.18 a Ib., a price it considers fair. Last week, in a special report, the Senate Preparedness ("Watchdog") subcommittee roundly commended Symington because he "bore the brunt of the battle" against the tin producers. The committee said...
Days of Interdependence. "Those days were essentially simple ones. We did not feel intimately any relationship with Iran. We did not think about needing the tin and tungsten of Malaya, or the uranium of the Belgian Congo or the tin of Bolivia. We felt, rather, independent and alone . . . But now we realize the world is a great interdependent, complex entity . . . We have learned no part of us can prosper, no nation can really in the long fun be at peace and have security unless others enjoy the same...