Word: ibs
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Conservatism and orderliness led Ibáñez, in 1925, to take part in an army revolt against Chile's first reform-minded liberal President, Arturo Alessandri. Making himself dictator, he borrowed $300 million abroad, touched off a period of prosperity, then saw his regime collapse in 1931 with the Depression. The experience soured Chile on dictatorship, but did not discourage Ibáñez. He tried three more revolutions, including a 1939 Putsch copied after that of the Nazis. All failed, and Ibáñez finally decided, in 1952, to try the ballot box. His lonely, military...
President Ibáñez, at 78, is still stern, upright and tempestuous. The son of a wealthy landowner, he early learned to sit a horse and boss his father's peons. The landowning politicians of Chile's 19th century- Conservatives who disputed for power with equally conservative Liberals- molded his beliefs to the right. The Chilean cavalry gave him a passion for humorless order; Chileans say that once, for reasons of pure esthetic tidiness, he made a tall clarinetist in a military band trade instruments with a short trombonist...
Paternal & Popular. But if Chileans variously feared or anticipated a dictator, what they got was a law-respecting President, in deep economic trouble from the start. Ibáñez worked his way through 17 Cabinet shuffles involving 58 Ministers. Congress insistently opposed his legislative programs, which, though never A B C clear, proposed some type of reform of the economic controls he inherited...
Next Reform. The Ibáñez reforms are not free from peril, though considerably less frightening than the destructive inflation cycle. The first effect of freeing the peso was to devalue it (from the official rate of 300 per dollar to a current 460). That puts heavy strain on the ceiling prices of imported goods, and the whole program is in deep trouble if price ceilings give way. Sure that they will, Labor Federation Leader Clotario Blest, blinking tired eyes in the sunny patio of Santiago's Central Jail, says: "The heart of the matter is that only...
...Says Ibáñez, who has two years left in his term: "Now if the parties continue to give me their support, as I believe they will, we will go ahead until we reach our final aim: total recovery of my country...