Word: machado
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Dictator. Franklin Roosevelt five years ago sent aristocratic Ambassador Sumner Welles to pluck Cuba from under the heel of bloody President Gerardo ("The Butcher") Machado. That chunky brown soldier, Fulgencio Batista y Zaldivar, organized a revolt against Ambassador Welles's dummy President Carlos Manuel de Cespedes, made himself Cuba's army chief and proceeded to set up and knock down presidents of his own in a way that has made Dictator Machado look almost constitutional...
...Cuba's great Cespedes (1819-74) promulgated the island's first Declaration of Independence in 1868, proclaimed an underground Republic which Spain could not stamp out for ten years. His son & namesake was Provisional President for 25 days after the exit of Gerardo Machado...
...worth of defaulted Public Works bonds, a faith which has inched the bonds from a record low 19¾ in 1933 to 74⅞ early this year, was climaxed politically in Havana last week. The bottom of 19! was hit soon after Dictator Gerardo Machado was forced to flee the island following the 1933 revolt. Eight years before he had embarked on an ambitious construction program which called for a 7O0-mile highway skewing the island; and streets, schools, public buildings for Havana. It was largely financed by $60,000,000 borrowed from New York's Chase National Bank...
Seven months ago Army Chief Colonel Fulgencio Batista launched a social, economic "New Deal." On the one hand he amnestied Tyrant Machado, on the other he decided to make payments on the defaulted bonds to bolster Cuba's credit so he could begin borrowing afresh. Last week he had his figurehead President, Federico Laredo Bru, rubber-stamp through congress a settlement which provides: 1) refunding of $40,000,000 5½% bonds, largely held by the Chase interests, with a 4½% issue; 2) payment of $20,000,000 short-term credit owed the Chase; and 3 ) appointment...
...latest job for Boss Batista and the Herald Tribune, Laurence De Besa went back to the country which had long since banished his friend, Boss Machado. Undisturbed that ex-Sergeant Batista, who now runs Cuba with his army, was in fact the man who took greatest advantage of the Machado ouster, Writer De Besa soon was one of Batista's cronies. In the $32,000 worth of space in the Herald Tribune which he sold in Cuba, Mr. De Besa did not let his dictatorial friend Batista down. Wrote Mr. De Besa: "He will continue his role...