Business: Chile: The Big Grab

WHEN Salvador Allende Gossens was elected President of Chile last year, some nervous Americans with investments there reassured themselves that, although Allende was a Marxist, he had always maintained a healthy respect for the due process of law. That assessment has proved correct, if a bit too sanguine. While giving conscientious attention to democracy and legality, Allende has nonetheless been expropriating American holdings almost as fast as he can. In July, he announced the nationalization of the mining interests of Anaconda, Kennecott and Cerro—but only after a constitutional amendment permitting the takeover...

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