Word: venezuelan
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...evening last week a well-dressed woman walked casually into the powder room of Caracas' Hotel Tamanaco, the favorite Venezuelan hotel for well-heeled U.S. tourists and businessmen. Minutes after she left, a thunderous explosion blew out the powder-room walls, shattered glass in the lobby, wrecked the interior of the cocktail lounge and injured five persons. Timed to coincide with the Tamanaco blast, a hail of fire from machine guns and mortars poured into an army motor pool on the other side of town. Troops returned the fire, and for two hours many of the expectant mothers...
...property) have been divided among nearly 55,000 families; 5,000 miles of farm-to-market roads have been built in two years. Illiteracy has been halved to 25%; the number of primary school students has jumped from 700,000 to 1,200.000, and for the first time in Venezuelan history the government is spending more on education than on the military. This, in a nation that Liberator Simon Bolivar once called ''the barracks" of South America. Now Betancourt is struggling to finish his five-year term, hold free elections and see his legal successor take office...
Private foreign investment, one source of funds to finance imports of goods and machines needed for development, shows little or no increase. Aside from the Venezuelan windfall, new direct private foreign investment amounted to $622 million in 1957, $642 million last year, and averaged about $635 million in the years between. Moreover, foreign investors sharply decreased the money they were willing to risk on primary industries (mining, petroleum, agriculture) necessary to build a foundation for the area's economy. Instead, they switched their emphasis to secondary manufacturing businesses (appliances, automobiles, computers), which are less subject to nationalization or heavier...
...official U.S. policy that the Monroe Doctrine did not bar outside nations from using armed force against Latin American states to punish wrongs or to collect debts, as long as the attackers refrained from annexing territory or changing the form of government. But when Germany undertook a blockade of Venezuelan ports in 1902 to force the current dictator to pay claims due to German citizens, U.S. public opinion got so aroused that the Germans called off the blockade...
Trinidad has more to celebrate. A 1,863-sq.-mi. chunk of green hills slightly larger than the state of Rhode Island, lying below the southernmost end of the Windward Islands, it is separated from the Venezuelan coast by ten miles of water and oil derricks. Rich with sugar as well as with oil, Trinidad has the highest per capita income ($480) in the British West Indies. It exports the second largest barrelage of crude oil in the Commonwealth (after Canada), earns a national income of $438 million, compared with the $570 million earned in Jamaica, which has twice...