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Since taking office last month as the only "nonpartisan" member of the new leftist government, 47-year-old Minister Wachholtz has pushed a policy that denies credit for all but industrial purposes. The left has stood by him because the poorer classes have been almost untouched, at least to start with, by his deflationary decrees. But middle-class shopkeepers, who need credit to stay in business, have been hard hit, and some real-estate speculators and stockmarket operators have lost heavily...

Author: /time Magazine | Title: CHILE: Fighting Bear | 12/16/1946 | See Source »

...Nazarenas was built around the wall, and the painting, set in a gorgeous silver mounting, was elevated like Mexico's Virgin of Guadalupe for all to see. Each year the image of Our Lord of Miracles was borne in procession on visits to other Lima churches. The poorer classes made the festivity their own, and a brotherhood grew up, now numbering some 3,000, to organize the procession and above all, to carry the heavy litter with Our Lord of Miracles...

Author: /time Magazine | Title: PERU: Our Lord of Miracles | 10/28/1946 | See Source »

...British phonograph recording industry is well ahead of ours, and present developments, step by step, are widening their edge. This state of affairs results from a fundamental difference in the American and British approaches towards music. The hucksters have taken over American music and bigger sales and profits and poorer standards are the order of the day. With an infinitely smaller market the British industry remains essentially one which furthers music a san art, with the search for perfection the keynote of their policy...

Author: By Donald M. Blinken, | Title: The Music Box | 9/25/1946 | See Source »

Privilege. In Prince Albert, Sask., angry citizens protested against a new local tax on outdoor privies, said it made "the poor poorer and the rich richer...

Author: /time Magazine | Title: Miscellany, Sep. 2, 1946 | 9/2/1946 | See Source »

...have been the Philippines' main bread basket and bitterest bone of contention. Generations of Filipino landlords and tenant farmers have battled over how the crops should be divided. Always the result has been the same. From each carnage of broken heads emerged fewer and richer landlords, more and poorer croppers...

Author: /time Magazine | Title: THE PHILIPPINES: First Test | 8/5/1946 | See Source »

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