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Show Of Special Interest International Corner r f j s , by ished in its country.. An example of these contributions is monopolistic business practices. This situation of poor countries dependent on outside markets, marked by corrupt politics and American domination, led to the term banana republic. Two examples of U.S. relations with the region during the period, which is relevant to todays problems, was the treatment of Cuba war and the buildafter the Spanish-America- n ing of the Panama Canal. - Panamanians negotiated a decision with Bunau-Varill- a Bunau-Varillin turn negotiated with the U.S. a treaty that allowed the United States perpetual use, occupation, and e canal zone through control of a Panama in which the U.S. would exercise, according to experts, as if it were sovereign territory. President Theodore Roosevelts ways of obtaining the canal took advantage of Central Americas inability to establish stable and representative governments and followed a pattern established by the Spanish. The active involvement would mean that in the future the U.S. would not only be taking advantage of Central Americas weakness, but would be held partially responsible for promoting and perpetuating it. The Panama canal helped to increase the chronic wrong doing that affected Central a. ten-mil- In the case of Cuba, the U.S. helped Cubans achieve independence from Spain in 1898. The Cuban constitution of 1902 carried the Platt Amendment, which essentially gave the U.S. State Department license to intervene in Cuban affairs. The building of the Panama Canal affected the future of Central America. From the time of Simon Bolivar, Latin Americans had oppposed the idea of a canal across the region which would make it, according to Bolivar, the capital of the world. Myriam Hernandez This is the second article in a series on Latin America. Look for the final article in Latin America in a future edition of the Forum. MH atb There is not a better example of the best and worst of U.S. relations with Central America than the United Fruit Company (UFCO), known as the octopus by its critics, for its ability to penetrate its business tentacles into every aspect of Central American politics and economics. American politics since independence and encouraged the U.S. to exercise an tic power over the region. The chronic wrongdoing in Nicaragua started with the Conservatives who were out of power in Nicaragua and the Liberals who had a dictatorship. The U.S. state department had problems with Liberal President Zelaya. He advocated the unification of the eight Central American Republics with himself as president. Initial U.S. interest in a canal had centered on N icaragua. Accord i ng to stud ies, this would have been an easier route. But the holders of the original French concession advised against it, and went for the Panama Canal. Panama, as a sovereign state, did not exist at this time; rather, it was part of Colombia. Negotiations with the Colombian government over the canal during 1903 were difficult. The U.S. backed Phillipe Bunau-Varillchief engineer of the Lessps project, to organize, finance and direct a revolt by the Panamanians. With the help of the U.S. Navy and bribes paid to the Colombian oficers who were supposed to oppose the rebellion, Panama won its independence in 1903. UFCO was a dominant factor in many Central American countries for decades. The suspicion would always remain that the corrupt leaders of Central America had sold out the national patrimony at a cheap price. UFCO did not start the unpleasant politics in Central America, but it contributed to them by engaging in business practices that had been abol In pursuit of this ambitious goal, he punished his opponents with extreme prejudice. While Zelayas notion of Central American solidarity constituted a threat to U.S. economic domination of the region, the state department seized upon the pretext of his brutality as justification for his ouster. a, The Conservatives led a revolt against Zelaya, which was financially supported by the U.S. government. They assumed power with Adolfo Diaz, a former employee of a U.S. mining concession in Nicaragua. Feeling the Nicaraguan people had been betrayed, Augusto Sandino, the son of a small landowner and an Indian peasant, chose to fight on against the conservative elites and the United States Marines. A long struggle went on between 1912 and 1924 and again from 1927 to 1932, between Sandinos troops and the U.S. Marines against the Nicaraguan National Guard. Sandino gave up his fighting in 1932 when U.S. dominations started to withdraw. In 1932 the last troops of the U.S. left Nicaragua, but long-terdamage had been done. Anastasio Somoza, chief of the Nicaraguan National Guard, had Sandino assassinated at the National Palace on Feb. 21, 1934. By 1935, Somoza had removed the elected Liberal president and installed himself as the head of the political dynasty that ruled Nicaragua for the next forty years. In death Sandino became a hero, and thirty years later he was the inspiration to young Nicaraguans who would take up his name and take up arms against the son of the original Somoza. In 1979 the Sandinista National Liberation Front defeated Somoza and made Sandino live again. His struggle and death in 1934 inspired a revoltion that worries the U.S. government today because of the revolutions ties to Cuba and the Soviet Union. The intervention of the United States is far more reaching in Nicragua than in any other Central American country. At a time when many Central Americans were, and still, are desperate for change to better their lives, U.S. policy often becomes equated with support for the status quo. m Black Monday responsible Dr. Bradshaw receives economic recession ? professor of arts degree i , , , .J . . 10 t'!... - .10 ' t, ,i ! by by Randy markets after the October crash. Until a pack- Sullivant Will the Black Monday stock market crash in October trigger a recession next year or in 1989? Since October 19, President Reagan has been touting a list of economic statistics as signs that the countrys record expansion can brave the stock markets drop without slipping into a recession. He cites relatively low unemployment, rising exports that have helped offset a drop in spendconsumers, and capital ing by investment rising steadily. But that was before the market crash. Since Wall Street reached its peak in August, falling stock prices have taken about $1 trillion in overall wealth from the economy. Economists expect nervous consumers to tighten their belts and dampen economic growth (which has been running at a 3.8 percent annual rate through September) through the first half of next year. How deep the consumer cutbacks go and the ripple effects they cause are among key unanswered questions. How retailers do during the Christmas shopping season may give a clue. Perhaps more important is how financial markets and foreign governments react to any n measures coming out of Washington. Unfortunately, after almost four weeks of discussions. President Reagan and Congress have yet to reach any agreement. If they dont come to any conclusions before reduction November 20, the Gramm-Rudma- n bill will take effect, automatically imposing d cuts of $23 billion on the fed60-mon- th 508-poi- nt debt-burden- ed deficit-reductio- across-the-boar- eral budget. The whole trading world was geared up for some positive and dramatic budget agreement. Now it appears its not happening before Gramm-Rudmaand investors are disgusted, said Robert Stovall, a market strategist. As a result, recent trading which has been holding rather steady pending the budget outcome have begun to drop. The importance of a budget reduction package is not just to encourage U.S. investors, but also to show trading partners abroad that the country is doing its part to steady financial n, Dec. 1, 1987 Issue 7 age is produced that will show that Washington is in control, the dollar bill will continue to decline in world markets. Were going to continue to have a fairly dollar until negotiators come up with something substantial, said Chris Bourdain, a market analyst. Administration officials, including Treasury Secretary James A. Baker III, believe that the key to reviving world economic growth lies in reducing U.S. trade deficits in partnership with economic stimulus by Japan, West Germany, and countries with big trade surpluses. So far, though, both Germany and Japan have been unwilling to take any meaningful action to stimulate local demand until they see strong policy commitments from the U.S. The most imminent factor in when a recession is coming is what the market and foreign reaction to the budget-defic- it plan will be, said Bruce Steinberg, financial analyst with Merrill Lynch. The problem has not been so much with the amount of reduction, it is the issue of whether or not there is any actual leadership coming from Washington. Foreigners dont have high expectations and they are not going to make strong policy commitment unless they see the same from the U.S. It seems, then, that the immediate future of the economy and the stock market hinges upon the Administration getting its act together, a fact that seems rather remote at the moment. sick-looki- ng The summit is the pits. They seem to think that nobody cares about the market except a few millionaires. Dont they know that every working man has something at stake, whether its a pension fund IRA, mutual fund or whatever, said Trude Latjmer, investment company If the government doesnt reach an agreement soon, it may be a long winter for that working man. It may also be a long stretch for President Reagan to finish. The realistic odds for a recession in 1988 are vice-preside- now more like said and for 1989, Allen Sinai, chief economist for Shearson Lehman Brothers. -5 Julie Fullmer On Tuesday, Nov. 17, Dr. Berenice Jewett Bradshaw, a member of Westminster Colleges Board of Trustees, received yet another prestigious award. For the first time in the colleges 112 year history, Bradshaw received the Distinguished Professor of Arts degree. Prior to this, she received an honorary degree, the Doctorate of Humane Letters, from the college in 1985. She was also the first recipient of the Distinguished Service Award which was given this past September. During his welcoming remarks, President Charles Dick said Bradshaw has given Westminster College more support than any other single individual. Berenice is a survivor, a doer, and she exemplifies the love of beauty and truth, he said. I 'am overwhelmed with the honor bestowed upon me today, said Bradshaw. In all my wildest dreams could I have envisioned that my latter life would include such glory and happiness. Art encompasses many forms painting, dance, song and elocution. I dont know a Rembrandt from a Picasso or a Van Gogh. My interest lies in song, dance and speech, which I 'participated in during my youth. Age has taken my voice and agility, but I can still dance not ballet or disco, but ballroom dancing, which I hope to continue, she added. Bradshaw said she was thanked her supporters, floating in the clouds. and Dr. Michael Gershowitz, vice president of academic affairs, also paid tribute to Bradshaw. We can all learn by her generosity and her concern for humanity. We are all her students, and were honored to have her as our mentor, he said. George Moosman, senior vice president and trust officer, First Interstate Bank, and a member of the Board of Trustees, told of Bradshaws deep love and appreciation for the arts. Her contributions have earned her heart-fel- t appreciation from those involved in the arts, he said. Richard Wunder, librarian, tributed Bradshaw with a vocal selection entitled Memories. In addition. Dr. Glenn Walker Wallace, who has also received a Doctorate of Humane Letters and Distinguished Service Award from the college, presented Bradshaw with an orchid corsage. Her husband, Dr. John Wallace, received the first Distinguished Professor of Business Award. Bradshaw is a graduate of Westminster, Class of 1922. She attended when Westminster was a collegiate institute. She is a strong supporter of many institutions including Ballet West, the Utah Opera, and the American School of Ballet in New York. Dr. Berenice Jewett Bradshaw, member of the Board of Trustees, receives the first Distinguished Professor of Arts Degree. Forum 5 |