U.S. Takes New Strides in Peru
(Editor's note: The following is another of the series of reports on Latin American countries.)
LIMA. PERU—(UPI)—This Latin laboratory of experiments, ideas and hopes is drawing increasing interest from the United States.
Earlier this month, $2 million in U.S. government "seed capital" was put at the disposal of Peruvian savings and loan associations to improve lower and lower-middle class housing.
This is the first time the United States government has extended credit to a foreign, private home-financing institution anywhere. . .
The step was historic.
It was the first gesture in President Eisenhower's program for expanded aid to Latin America.
in the world," said Vance Brand, managing director of the U.S. Development Loan Fund.
Under the financing, Peruvians will be able to obtain low-interest loans for construction of medium and low-cut private dwellings.
And, it has built-in guarantees that the money will be made available for lower income groups—not siphoned off into the hands of the well-to-do.
Prior to the U.S. help, Peru's housing programs bogged down in prohibitive interest rates.
Brand stresses that it is only "seed capital" which the United States is providing. To Peruvians, he said "the future, the financial responsibility and the final success are in your hands." And Brand has confidence in the future of Peru.
The good news came to Peru just 12 days before the first anniversary of Premier Pedro Beltran's decision to take on the responsibility of forming a new government. Last year, Beltran was asked by President Manuel Prado to select a new cabinet to head off certain economic disaster.
Beltran, publisher of one of Lima's leading daily newspapers, long had been an outspoken critic of the government and the revolutionary Apra party which joined forces with Prado in 1956.
He is highly regarded throughout the world as an excellent economist —but, at home, he is unpopular now that he heads the government.
Friday. July 29,1960
The primary reason for Beltran's unpopular reputation is his austerity program for the nation which he brought with him to the premiership in an effort to do the job Prado asked him to do.
And it has paid off in new health for the Peruvian economy.
Beltran has been either directly or indirectly responsible not only for getting the U.S. housing aid, but for obtaining loans amounting to $76 million from the World Bank for port development, highways, industry and agriculture. During the administration, a new $15 million oil refinery was completed outside Lima.
Peru today has a businesslike government and its inflation has been checked. If world market prices hold firm on her sugar, cotton, coffee and metal exports, the "voice of the opposition and the qualms of some local businessmen will be quieted considerably.
Yet Beltran the man remains unpopular. One answer is that there's still widespread poverty in Peru and no one man could possibly wipe out centuries of misery in the winking of an eye.
The aid from America should help lessen the clamor from the opposition for speed in erecting new housing for the needy-one of the main programs agitated for by firebrand Fernando Belaunde Terry who heads the popular action movement.
The most powerful of Beltran's opposition, Belaudne Terry is described by some of his supporters as a moderate. However, it is common knowledge his party has been infiltrated by communists.
He holds that he alone represents the voice of the people since the Apra party aligned itself with Prado.
If Belaunde Terry should win in the 1962 presidential elections, observers feel that foreign investments, including the U.S. aid program, would not be jeopardized as long as fundamental democracy is preserved.
Presently, he has a good chance of coming out on top in the elections.
But, the great projects Beltran has been and is initiating, boldly backed by United States' capital,
may well have the effect of taking the wind out of Belaunde Terry's arguments two years from now.
Though Peru has begun to emerge into modern times, the hinterlands still wear the visage of 17th century poverty and ignorance.
Most of the hungry, and there are many, don't know what nationalism means, what communism is or where the United States is located.
Peruvian development, though slower than canyons being grooved by nature, is imperceptibly changing the face of the nation's economy.
As the wealthy gradually recognize the democratic way, and invest in their homeland instead of hoarding their riches in Swiss banks, the nation will some day achieve the evolution of a healthy, democratic and well-fed land.
Robert W. Bernard, assistant instructor of French, has been awarded travel costs by the Fulbright program to supplement his French teaching assistantship award.
Bernard Receives Travel Award
The original award, made by the French government, provides a part-time job teaching English in French high schools.
Bernard also will study French at the Lycee de Garçons, "Janson de Sailly," in Paris during the 1960-61 academic year. He is from St. Paul, Minn., working toward his M.A. degree in French at KU.
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Extension to Hold Plant Short Course
Republican Gavel Given to Library
Ladybugs do not die at the end of the season as do many other insects. They hibernate for the winter.
An intensive technical short course that in four years has attracted 103 industrialists from 21 states and Canada will be given Sept. 12-16 at the Town House Hotel in Kansas City.
Permanent convention chairman Rep. Charles Halleck (R-Ind) presented the gavel to Darby after the President's speech at the Republican National Convention.
The fifth annual work course on Plant Layout and Facilities Planning will be conducted by University of Kansas Extension. Enrollment will be limited to 25. Rchard Muther is the technical director and Edward S. Avison of KU Extension is the coordinator for the course which has a fee of $300.
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