The Guatemalan Revolution - A Brief History

Land reform legislation of 19 52 hit american and elite interests in guatemala hard. All lands to be taken were to be paid for in 25 year bonds issued by the government, bearing a three % interest rate. In 18 months that the law was in operation, about one point five million acres were distributed,. For which the government paid eight point three million in indemnities. Credit to land reform beneficiaries and other small farmers amounted to nearly 12 million dollars. Among the lands expropriated were 17 hundred acres owned by president arbens and 12 hundred acresowned by foreign minister guiermo toriello.