Word: coppered
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Since Latin America is the United States' natural relative both in point of geography and because it provides this country with more trade than any other single region, the State Department's non-military attitude seems rather myopic. Latin America provides America with a large part of its oil, copper, lead, and bauxite, yet American foreign affairs experts have not instituted any long range plan to guard our interests...
People & President. The 6,400,000 people of Chile-a mixture of Basque and Catalan stock, with some blend of the original Araucanian Indians-have demonstrable courage and energy. Though outnumbered in an 1879-83 war with Peru and Bolivia, they easily grabbed the copper and nitrate riches of the rainless northern deserts, thus completed the process of making their country so long (2,600 mi.) that if it were magically moved it could serve as a land bridge from Boston to Belfast. Chileans are 90% literate and obstinately democratic, but by a quirk they have elected as their President...
...President's experts insist that they do not propose to liquidate inflation by squeezing the country's rotos (broken ones). They are confident that plenty of copper dollars, from new investment and current near-record prices (45? a lb.) plus a $75 million currency stabilization loan from the U.S., will bolster the peso. And to hold the price line against changeover shocks, the government gave temporary direct subsidies for vital imported goods, and raised living allowances under the social-security system for 3,000,000 rotos...
...freely at eight to the dollar). Depending on their utility, as evaluated by the bureaucracy, various imports got various rates; e.g., whisky was made proportionately more costly to import than milk. Export rates, too, were adjusted to let commodities-in theory at least-meet foreign competition; there was a "copper dollar," a "wine dollar," a "nitrate dollar" and a "sulphur dollar." Soon the government was in the satisfying business of creaming off a profit from exchange transactions...
...course," said Barnes, "various problems plague the small business sector of the economy." Foremost is the squeeze on some raw materials, e.g., steel, aluminum, copper, newsprint. The small businessman also has a tough time bringing in new equity capital and finding long-term loans at cheap rates. But he thrives anyway: business failures dropped to 10,969 last year v. 11,086 in 1954. The business population rose to 4,225,000 firms of all sizes at mid-1955, a net increase of more than 28,000 companies in a year...