Word: cruzeiro
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Dates: during 1960-1969
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...Walther Moreira Salles, 49. A liberal-minded banker who was twice Ambassador to the U.S., Moreira Salles has tried hard to shake Brazil out of its economic nightmare-a looming 1961 budget deficit of $600 million, with inflation rumbling into the wheelbarrow stage. Moreira Salles turned off the spinning cruzeiro presses, laid plans to slash government spending 20%, drew up a sense-making tax-reform bill. The cruzeiro free-exchange rate, fallen 33% (to 360 to the dollar) firmed up to 340 and seemed about to right itself...
...professional men keep no records of income; businessmen often keep two sets of books. Brazilian tax experts estimate that Rio de Janeiro's merchants alone cheated the government out of $1.9 million last year. Out in the country, big landholders drive off revenooers at gunpoint, never pay a cruzeiro. According to the taxmen in Buenos Aires last week, if all Latin Americans should start paying taxes scrupulously, their governments would rake in another $3 billion each year...
...precise imitation of Parks's performance, O Cruzeiro sent one of its own cameramen, Henri Ballot, to New York. There on Manhattan's Lower East Side, "five minutes by car from Wall Street," Ballot found exactly what he was sent to find: a New York family living in the same poverty and filth that LIFE'S camera had shown in the Rio slum. Photographer Ballot sighted in on the family of Felix Gonzales, 53, a Puerto Rican immigrant and part-time car washer...
...Cruzeiro's account of slum life "in the shadow of the Chase Manhattan and First National City Bank'' was every bit as graphic as the LIFE study of Rio. Ballot's picture of eight Gonzaleses crowded into a single slum-house bedroom had much the same impact as Parks's shot of the Rio favelados crowded into theirs. Fact was that Ballot's most moving picture-Gonzales' frail nine-year-old son Ely-Samuel asleep on a dirty mattress and apparently crawling with cockroaches-was posed. The photographer caught and distributed the roaches...
Played big in O Cruzeiro ("Story of the Misery in the Favelas of New York"), Ballot's photographic essay ran for 14 pages, with an accompanying text that sustained a note of righteous indignation. "In his article for LIFE," wrote O Cruzeiro's editors, "Gordon Parks chose one of the cases of most acute misery in our favelas ... As if misery were exclusively ours. It is not." Despite its set-up pictures for which it paid the Gonzales family to pose, O Cruzeiro had made its point...