Word: brazil
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Dates: during 1960-1969
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Tackling the mess headon, Dantas, Goulart and Economic Planner Celso Furtado (architect of the ambitious development plan for Brazil's blighted northeast elbow) ended costly subsidies on imports of wheat and petroleum, even though high-test gasoline prices immediately doubled. They raised the fare on Rio commuter trains from 3 mills to 1½?. They limited bank credit, froze steel prices at the government-owned Volta Redonda plant, and persuaded auto, truck and clothing manufacturers to hold the price line. Goulart, who rose to power as labor's pal, even promised a group of industrialists that he would...
...States last fall appointed a committee of two to make a survey of what went wrong and what should be done about it. The roving critics were two of Latin America's most distinguished statesmen, temporarily out of work: Juscelino Kubitschek and Alberto Lleras Camargo, former Presidents of Brazil and Colombia. For three months, they went their independent ways, studying reports, conferring with Alliance officials, huddling with economists and politicians in Latin American capitals. Then they met in Rio de Janeiro to compare notes. They disagreed on some major points...
Italy, at last count, had 40,000 native-born saints recognized by the Roman Catholic Church. The U.S., the nation with the world's second largest Catholic population (after Brazil), has none,* but one is in the making. This week in Rome, following Vatican approval of two miracles attributed to her intervention with God-one a medically inexplicable cure of cancer, the other a recovery from leukemia-Elizabeth Ann Bayley Seton, founder of the American branch of the worldwide order known as the Daughters of Charity, was enrolled among the beatified of the church. Attending the formal ceremonies...
...Note Co. is a staid old institution that makes money by making money. The oldest and richest of the three U.S. firms that still print bank notes, it is a sort of job-lot treasurer that churns out paper money for 55 nations around the world, including Colombia, Ecuador, Brazil, Mexico, Egypt and Guatemala. From its presses last year 25 million stock certificates and 7.5 million bonds, all the travelers' checks for American Express and four other firms, corporate checks for more than 2,000 of the nation's largest firms, and postage stamps for 65 nations...
...these days filling orders for money from young nations and performing rush jobs for some old nations ravaged by inflation. Last week its printing plant in New York City's Bronx was busy printing a rush order of 5,000-cruzeiro notes (present value: $1) for inflation-ridden Brazil. "We really prefer a well customer to a sick one," says Chairman and President W. Frederic Colclough, 57, who runs the company's five plants (three U.S., one Canadian, one British), from a colonnaded granite building near Wall St. But, naturally, since inflation starts the printing presses rolling...