Word: pesos
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Dates: during 1960-1969
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...needed domestic programs, he built 8,000 miles of roads, which was more than the total road construction in the country's history. He also put up 43,000 school buildings and irrigated 300,000 hectares of land. He showed his keen appreciation of the impact of a peso well spent. In his first year in office, he pushed for the passage of a local improvement fund of more than 200 million pesos (about $50 million). He got the measure passed by Congress in his second year, but did not hand out the money until this year. Then...
...continue his public works program, rein in the island's growing lawlessness, curb its widespread corruption and lower the high birth rate, which is adding 1,300,000 people each year to the 38 million population. He must also shore up a shaky economy, possibly by devaluing the peso. Because funds are running out, Marcos will become the first allied president to pull forces out of Viet Nam. In December, he intends to bring home the 1,500-man Philippine civic-action group. He will put the men to work in the impoverished central Luzon, where the Huk guerrillas...
Last year San Diego's COMBO (Combined Arts of San Diego) raised $250,000 auctioning off such items as a new house, an African safari and a ride in the Goodyear blimp; nobody bid on the two-week vacation in a nudist colony. Orlando's (Fla.) PESO (Participation Enriches Science, Music and Art Organizations), which raised $162,000 at its auction last year, had no trouble disposing of 50 tons of orange-grove fertilizer and a $2,500 orange-grove sprayer. And in Phoenix this year, such items as hernia and cataract operations, stud service by a registered...
...spirit. He fired six members of his own Colorado Par ty from their ministerial jobs. Since then, he has replaced all but one man in the twelve-member Cabinet with "good technicians." To halt inflation, which had boosted prices 200% in 18 months and forced five devaluations of the peso, he decreed a total wage and price freeze. The government encouraged housewives to call special telephone numbers to report price rises, took to closing down the violators for ten-day periods and trotting store managers off to jail...
...wage and price controls, he hopes, are temporary measures, but he fully intends to keep the reins tight on the unions. He plans to start taxing unused land on Uruguay's huge ranches and to attract new capital with a stable peso. He also threatens to fire unnecessary bureaucrats, but in Uruguay no step involving jobs is quite that easy. There is, however, a measure before Congress that would give superfluous federal employees a year's salary just to quit...