Visnews filmed Venezuela's new President Romulo Betancourt arriving for the ceremony officially proclaiming him president-elect at the Electrical Office building in Caracas.
Visnews filmed Venezuela's new President Romulo Betancourt arriving for the ceremony officially proclaiming him president-elect at the Electrical Office building in Caracas. Troops stood by to put down any demonstrations by supporters of the losing candidates.
The 50-year-old president had returned from exile in the United States in January 1958 to re-organize his left-of-center Democratic Action party for his upset victory in the elections early in December 1958.
A large crowd had come to see the new president. Many of them had come out to cheer for one of the losers in the election, Admiral Wolfgang Larrazabl, the head of the government Junta. Larrazabl was at Bethancourt's side as he walked into the Electoral office. Larrazabl, who ran with Communist support, came to the ceremony to show his support for the elected government.
During the ceremony Betancourt pledged his cooperation in any attempt by the United States to put relations with Latin American on a new and sounder basis. He denied that he was anti-United States in his thinking. This followed earlier reports that Betancourt might move against American oil holdings.
On Dec 21 it was announce in Caracas that the ruling junta had decreed to increase income taxes, which will force American and other foreign oil companies to give another 10 percent of their profits to Venezuela. This hexation to 60 percent of the companies profited 60 % instead of 50 % from the end.