Leonard Aguella - President Of Nicaragua

Leonard Arguello - President Of Nicaragua . . .for 26 days.

May 26, 1947 – A President For 26 Days – A Slow And Gradual Slump – Six Desperate Fugitives.

Leonard Aguella - President Of Nicaragua
Leonardo Arguello – President Of Nicaragua . . .for 26 days.
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May 26, 1947 – News Of Tomorrow – ABC Radio – Gordon Skene Sound Collection –

May 26, 1947 – News for this day in 1947 ran the gamut – starting with news of a military coup in Nicaragua, deposing President Leonardo Arguello after only 26 days in office and imposing a news blackout on events as they were unfolding. Best as could be ascertained at various listening posts around Central and South America, Aguello was the legitimately elected President of Nicaragua who ran somewhat afoul of the outgoing President, General Anastasio Somoza after only 26 days in office. Although he was not directly implicated in the military takeover of the country, all fingers were pointing in the direction of Somoza. Since there was blackout, there was no clear indication that Somoza was at the center of the coup, but news outlets around Central and South America paid little attention, granting the news scant paragraphs. More would be revealed.

Meanwhile back home, the economy was making news and causing apprehension. Pundits and psychics were predicting the Post-War business boom over and America was heading towards a slow and gradual slump, with the Commerce Department issuing a terse and matter-of-fact statement saying; “the upswing in Business stopped in April”. Business, for the moment, was still high but the slump was starting. Ironically the Federal Reserve also issued a somewhat cautious but no less terse statement that: ” A moderate drop in operations or prices would strike profits more than wages”. Analysis pointed that profits had risen sharper in the high peak than in any other shares of income. Economic reverberations were being felt all over. The Stock Market closed its trading day with the lightest activity in 10 months. Business in the New York area was suffering from what was termed as “distorted prices” with the clothing industry facing particular resistance, leading in turn to an uptick in unemployment in the garment trades with joblessness in the New York area increasing by 150,000 over the previous three months. A nervous time was had by all.

And hundreds of Ohio police were searching for six fugitives who broke out of prison at the Ohio Reformatory for Men in Mansfield. Sketchy reports said six men had kidnapped a guard and sped away in an institution truck. It was not known if the six prisoners were armed, but roadblocks were thrown up all around the area of the prison. At last report, the six escapees, four of whom were identified, were still wearing their prison uniforms and the guard was still being held prisoner.

And that’s just a small slice of what happened this May 26 in 1947 as reported by ABC Radio’s News Of Tomorrow from a badly heat-damaged transcription disc that requires a little cautious listening. But historic nonetheless.

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