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...manufacturing. Venezuela has served notice on foreign oil companies that it has no intention of extending their concessions, which begin to expire in 1983 (see BUSINESS). Peru's left-leaning military junta has already taken over the International Petroleum Co., a Standard Oil of New Jersey affiliate. Socialist Chile has expropriated-with compensation yet to be determined-U.S. copper mines whose worth is estimated at between $500 and $800 million...

Author: /time Magazine | Title: LATIN AMERICA: The Price of Misdeeds | 9/6/1971 | See Source »

...fails to promise "prompt and adequate compensation." The chief spokesman for that point of view is Treasury Secretary John Connally. He had the U.S. pointedly abstain from voting for World Bank loans to Bolivia and Guyana, and had the Export-Import Bank refuse a $21 million credit to Chile for the purchase of three Boeing passenger jets. Although he denies it publicly, Connally has been heard to say in private that "the U.S. can afford to be tough with Latin Americans because we have no friends left there." Apparently acting in a similar spirit, Congress allowed the coffee support agreement...

Author: /time Magazine | Title: LATIN AMERICA: The Price of Misdeeds | 9/6/1971 | See Source »

Heyerdahl's account of the voyage was translated into more than 60 languages, sold more than 20 million cop ies. In 1955 he made an expedition to Easter Island, 2,350 miles west of Chile, and another bestseller, Aku-Aku, resulted. But then he bought a 13th century terra cotta chateau above the Ital ian Riviera and settled down to a comfortable life of sun-kissed scholarship. Had Thor Heyerdahl become adventurer emeritus? Not quite...

Author: /time Magazine | Title: Books: Wine-Dark Sails | 8/30/1971 | See Source »

...areas most affected, Chile led the Western Hemisphere, losing 6.1% of its priests. Brazil (4.5%) and Argentina (3.2%) outpaced both Canada (2.6%) and the U.S. (2%). In Europe, Holland had the highest percentage (5.9%), Spain a surprising 2.3%, Italy 1.5% and even Ireland 1.3%. The Vatican study analyzed the formal reasons the priests gave for their departure: the breakdown revealed that a growing number of priests are now leaving because of identity crises and for ideological reasons. The percentage who leave simply to marry is decreasing...

Author: /time Magazine | Title: Religion: End of a Battle | 8/23/1971 | See Source »

...congressional by-election involved Allende's home province of Valparaiso in central Chile. In last fall's presidential balloting, Allende himself ran a close second in the normally conservative Christian Democratic area. This time, he had reason to hope that his coalition's candidate would win big. In a bid for local favor, Allende had transferred his official residence from Santiago to Valparaiso's city hall during the Chilean summer. When an earthquake hit the district last month, government aid arrived with unwonted haste -and so did Allende to inspect the damage...

Author: /time Magazine | Title: CHILE: Setback for a Native Son | 8/2/1971 | See Source »

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