VENEZUELA: First Week of Freedom

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Treading with care. Rear Admiral Wolfgang Larrazabal. 46, eased Venezuela through its first week of freedom after the overthrow of Dictator Marcos Pérez Jiménez. The handsome navy chief, setting the pace for his five-man junta, spoke in tones of moderation, by week's end appeared to have won the support of nearly every sector of Venezuelan life.

Honor to Civilians. From the start, the necessary removal of Pérez Jiménez' supporters in the armed forces was done with tact and no ugly rolling of heads. Gratefully, new Defense Minister Jesús Maria Castro León called to pledge the armed forces' allegiance. Next evening Journalist Fabricio Ojeda, 29, founder of the civilian "patriotic junta." which welded Venezuelans of every political hue into an anti-Pérez Jiménez striking force, added his promise of loyalty.

To pay special honor to Ojeda. Larrazabal made that visit the occasion for his first policy speech. He promised fulfillment of lawful commitments, protection of foreign investments and guaranteed political freedom. The statement on investments pleased the oilmen and steelmen who hold most of the U.S.'s $3 billion investment in Venezuela. In the aftermath of the revolt, some resentment had flared against the U.S. for having maintained comfortable relations with the dictator; with this feeling was mingled a reaction against recent cutbacks in U.S. imports of Venezuelan oil.

Skulduggery & Gore. Besides reassuring foreigners. Larrazabal's speech sparked a warm reaction among Venezuelan businessmen. Every chamber of commerce in the country promptly pledged support. The Roman Catholic Church celebrated a special Requiem Mass for the more than 300 killed in the fighting. As Larrazabal capped his first week by announcing that elections for a constituent assembly will be held before the year is up, presidential elections six months later, investigators began rooting through the ruins of Pérez Jiménez' tumbled empire. Newspapers filled columns with gruesome stories of the dictator's sadistic security police, reported such murky financial dealings as those of a trucking firm, owned by Security Boss Pedro Estrada and the President's wife, that netted $3,500,000 on a $30,000 investment.

With the road back blocked. Pérez Jiménez idled away the hours in plush exile in the Dominican Republic's lavish Hotel Embajador. won $3,000 at roulette one evening in the hotel casino. With Fellow Exile Juan Perón of Argentina he went sightseeing, and the two presumably discussed their next moves. Perón had expressed a hankering for a slow boat ride to Europe, where he reportedly has millions stowed away in Swiss banks. Pérez Jiménez and Chief Cop Estrada may seek private asylum in the U.S.