SPAIN: Dreams of Gold

"The Spanish, economy could not look brighter," bragged Spain's Generalissimo Francisco Franco in his annual New Year's message last week. "Many apparently great nations envy us." There was, he conceded, a crisis just at the moment, but that was merely the "natural" result of economic expansion and would soon be straightened out.

Actually, life in Franco's Spain is getting tougher and tougher. Heavy frosts last February destroyed nearly half the nation's citrus crop, at an estimated loss of at least $80 million in foreign exchange. Early last spring, the discontent of Spanish workers, many of whom take two jobs and work...

Want the full story?

Subscribe Now


Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!