Word: landed
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Dates: during 1950-1959
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...Sort of Sick." Hardest hit U.S. companies are Atlantica del Golfo (with 500,000 acres), the Rionda group (500,000), Cuban-American Sugar Co. (330,000), United Fruit Co. (270,000). But since the law also prohibits anyone from owning more than 995 acres of farm land or 3,316 acres of ranch land, many Cuban operators will suffer. Castro promised that he will reduce his own family's 2,178-acre farm to the new legal limit...
...companies were officially silent, privately frantic. "This isn't expropriation," cried one sugar executive. "It's confiscation!" Said another: "We're sort of sick here." Sugarmen talked hopefully about one provision in the law: the newly created National Agrarian Reform Institute can let foreigners own land when "beneficial for the development of the national economy." This loophole may permit the companies to stay on until they can find buyers for the land. But losses will be heavy. The price of sugar land has already dropped by half from a year ago, and shares of the affected companies...
...those cases were considered, laws would be converted into telephone books." But on the face of it, Castro's law was a response to the fact that 200,000 rural Cubans are landless and often unemployed. He plans to parcel out the sugar land in free lots of at least 66 acres for each farm family. "Colonization stations," with tractors and agricultural experts, will help the new landowners, he said. He runs the reform institute personally, and to help him he picked a onetime Communist youth leader named Antonio Nunez Jimenez...
THIS means the great landed estates will be broken up throughout Latin America," said a top U.S. sugar broker last week, as Fidel Castro signed his agrarian reform decree. The Castro bill quickened Latin America's deep yearning to reap a better living from underdeveloped land. The Venezuelan Cabinet, for example, moved ahead with a land reform bill...
...basic facts of Latin American land tenure are stark. Less than 5% of Latin America's 8,000,000 square miles is under cultivation, although two-thirds of the 190 million people live from agriculture. Population density is only 24 to the square mile (v. 54 in the U.S.), but millions go hungry. Farm productivity per man-hour is less than one-fifth that of the U.S., food output barely keeps pace with population, and most of the 20 countries must import food...