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April 19, 1959 - Image 5

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Ecoirnic IDevelopment in Puerto Kico Is Hard,
But, a TU Gradu~ate Has Suee ded With

"OPERATLION Bootstrap, s the
American press haschriistenecl ' ri 3%
Puerto Rico's remarkable economic'
developmcnt pror. m, is hearded
by a gradua te of thc University's
pharma cy school. _, . f
Teordoro Moscuss, '32Ph, has{
been aniisistiator of the island " v
aomnionweaslth's SEconoisie-
velopment Adlmini.stration snice its
inception 18 years ago. The Ar]
ministration, knoscn as Foisento
(Spanish for f "growch" oir "e
velopuseit") ha. "speairhearder]
the activ'ity which has iven Pueito"'
Rica Latiin America 'ssecond high-f I'lf ss s
est pee capsita iincoine, behiiir]ail-r1
rich Venezueta.
Moscesa smilingly sys, "I kaiste
the law for the progra, ngoct it "
approved by the legislature, aiir so
the y had to ma ke iae administira
t"But statistics alone belie this
modest self-appra isal. Since 194.0,
immediately prior to Foments, cx-" ':.,ak
ports have increased over 500 perh
cent, insports over 600 pei cent.
And this progress has sirad be-' Alf/Ioni Ii idu try'is tncew, prodti t,'vitg is impressivcly high.
your] economic areas: whi]e papo-
latiois increased only one-fouiithsIeis] came to the University at the Univeisity biouight a amile cism was atill moie diiect: The
the number ot school- childicin beciaise he swanted] to eraduate to Mostaso's face-oroking on the business of the Univeisity is to.
nearly doubled. Ifrom the bestiiniveisity iin the G'argoyle staft, make people uncomfoirtable;
Tod'ay, ohservers fronm undei- United Statesawith a pharma cy' The hiimoi magazine that yeai watching football doesn't make
developer] nationa throughout tne school. first put out a paiody of The you u ncomfortable."
free world come to Puerto Rico to "I decided Michigan 'as it," he New Yorker. Mos coso solicited'luyteeape fapol'u-i ad oepeiusyupbihdm-
cesfully impro ing their lot, I At the tiie, he xplaiised , he terial trans a New Yorker co -I) C T U R E
jMjOSCOSO, thenmaii directly ioh of postgraduate tdtributoc so the magazine ha soe-U R
resonibe or imlain .perhatps in medicine. This was 'lparticularly' good writinginta
and guiding this:growthi, and be- , dnd o'vr s h aiyIse Complete stock of ol
hind Governor Lois Maniac Macin business.. Moscoso indicated particular finished and unufinishf
the mast important ma n on the While at the Univ'eraits' Msa-,concern with two current Uni-ATSPLE
islisd, came. from Puerto Ric' rosa was a mm nber at Hermitsge, versity problems: siae of the stu-R SPLIE
educated pr'opa 'tYausiieg upper-4 a now-de fuisct local1 fraternity, to 'deist body and the role at athileties.
Untilswork which Uiniversity PresidentEei-jPitiisg out that the total en-
Untl cmig t wrk or tootu Alexanider G.Ruhe b- rollinent when he was here wa A
Commonw'ealth gas'e rnmasen t inponm' '18,00he believes autainamy frmUiiiv r i
1941 as Famenta chief, he had';"The hause was so tar osit Wash- various arms slid bransches of the U iest
wacked in hi' family busiines, tnwA'i i a ec uhrcd3 tt t
pharmsaceutical1 irm'on the island,k to keep a bo.' to coise ina on,"' he As far athletics, Moseos a'scrt]- ,
since 'hi:s grdution froim the Uni ' 'eailed swith asmile. ______
versity. .......
O_. A RECENT rii to Aisi Ar-'
hoc he visited the former brea-
Thomas Turner, a night tisin at the fraternity house and:
editor on The Michigan Daily, fouind it quite built sip. isncolras]
lives in Puerto RICa, totefr;risaii, '
I Another recollectiorn of this dris/ ! § I',,-J-,..

I ","E ROLE of Foments, which
Moscoso jokingly says he's
headed "too long," is just what
,the name implies, development of
the economy of Puerto Rico,
The task has not beess easy. In
contrast to Venecuela, for example.
Puerto Rico has very few natural
IOther "liabilities," according to
Moscoso.,iire lack of investmeint
capital anid lack of industrial
knoss-hosv, Since no one can put
resources in the eround which
arenit there, Fomeinto concerns
itself swith the latter problems.
Most development projects are
referred to Fomento by its nain-
land osfices, Moscosoa explained.
These oftices dir'ect advertiasing
campaignos asd maintain indums-
trial representatives to convince
tprospective factsry - builders to
visit Puerto Rico,
In this wag, isearly 1,0t0 repre-
sentatives of state-side industrial
tfis visit the island each year,
he said, and industrial representa-
tives ass this cnd show them likely
planit-s'ights anid comparable fac-
tories already in operatiois.
FOMERTO ALSO helps in fi-
nancing plant construction,
IMoscoso continued, through sub-
sidiary organiations: Puerto Rico
Industrial Dev'elopment Company
(also headed by Mascoso) and the
Developmsent Sank,
The Development Combpany is a
puiblic corporation, he explained,
with $80 mitlianssets; it is fi-
Inaneed by public sale of bonds and'
by legislative appropriations. It
takes greater initiative in indus-
trial developnment than the Ad-
ministration itself, since it often
buys' real estate, subdivides it, and
builds buildings ahead of the corn-
isg of industry,
There is usually an inventory of
40 or 50 building ahead of a gen-
eral type which would adapt to
I sizes and styles -
ad $1.00 and up
a f all kinds,
NO 2-5669

(7 (sY~

IVY LEAGUE sport si
prints and solid colorsi.
veCOTTON KNIT short sl e
pullover sport shirts . . . an
EMBLEM shirt at popular j. ; :
prices «. ,every feature of y ;
higher prce.d shirts,
White dress shicrts by tRU-VAL««
Braco ):and Y Wash 'n W ar .prf
$26 '2f $
122 East Washington

ihis is I/at' rttkaiicka/s'suit l hr~/t cc
trt/oirr's baImmtalsrtaitlitiiw /ar ot is s '
All It ' t ''i i/ rllit''s i su sil' iii
soiilld. s.,'fit) ts/oin'!tt 'i/ htea to /p,' csift
Nat e'cr /sItatil i 'l/ri!, di/r'ssr'a/
ho!-r it'i'ia//o/ok,/'No ic'oii/t'r so as/ii)
of astr i'as/toa'rissi '('air b.);' Sir P'riasrY
Taisloire'dlf rccsta tuniquea'blendi c)o
} Jacioroaa, 2 5 ' c toto,

,f' a'

, /




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SUNDAY, APRIL 19, 1959 Page Fivo

SUNDAY, APRIL 19, 1959

Page Fiv

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