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    "label": "Memorandum on Venezuela",
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    "contentType": "document",
    "title": "Memorandum on Venezuela",
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    "productionDates": [
        {
            "day": 28,
            "logicalDate": "1948-06-28",
            "month": 6,
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    "seq": 5,
    "pageIndex": 0,
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    "ocrText": "SECRET\nDECLASSIFIED\nE. O. 11652, Sec. 3(E) and 5(D) or (E)\nDept. of State letter, Aug. 9, 1973\n7-15-21\n-2-\nBy NLT-\n9\nNARS Date\n12.2.75\nexported small quantities of beef cattle on the hoof to\nColombia. Coffee and cocoa exports are still important,\nbut are slowly diminishing.\nThe oil boom and its consequent stimulus to the\ncountry's entire economy has caused a great increase in\nthe demand for food, particularly meat. The Government\nhas solved the meat shortage by importing frozen beef\nfrom Argentina. This has exposed the country's herds to\nfoot-and-mouth disease. Fortunately, there has been no\noutbreak as yet.\nNATIONAL\nAND\nMining\nRECORD&\nNo important mining operations are under way, but\nlarge deposits of iron ore near the Orinoco River will be\ndeveloped in the near future by the Bethlehem Steel Cor-\nporation and the United States Steel Corporation through\nmutually satisfactory concessions made several years ago.\nPetroleum\nThe rapid development of oil production during the\npast fifteen years, and particularly since the end of the\nwar, has deeply affected Venezuela's economy, as will be\nnoted below.\nTaxes on oil have swelled the Government's revenue\nso that it is now one of the most solvent in the world.\nThe Government is spending its entire income, a large pro-\nportion of which is devoted to an ambitious program of\npublic works which include irrigation projects, agricultural\nsettlements, highways, construction of schools and hospi-\ntals. Various programs have been commenced for raising\nthe standard of living, particularly of the poorer classes.\nIndustry\nThe country has relatively few industries but the\npresent Government is trying to foster industrial develop-\nment in order to prepare for the day when national income\nfrom oil will decrease.\nPresent Government\nThe present Government may be described as quasi-\nsocialistic and pro-labor. It welcomes foreign capital\nunder certain conditions and has proven to be as satis-\nfactory as any other Latin American Government in its\nrelations with foreign interests. It has made no confis-\ncation of private property, nor given any indication of\nsuch intention. Nevertheless, a majority of the leaders\nhave been closely associated personally with socialists,\neven with communists, and many of them are believed to\nharbor the socialists' concept of Government.\nThe\nSECRET"
}