Home  •  Mobilization and Uniting of Chileans  •  Land Reform  •  Economic Plan  •  Nationalization of the Banks
Nationalization of the Banks

One plan that Allende had for Chile was to nationalize the banking system. Although Allende was not able to put all of the plan into action, this was the plan to reform the banking system:

  • Reduction of maximum interest rates.
  • Even lower rates for some businesses, which would benefit small industries.
  • Broad redistribution of credit--make accessible to all sectors of Chile.
  • Decentralize system so provinces can make decisions that would benefit themselves.
Garces, Joan, ed. Chile's Road to Socialism. Penguin Books. Baltimore: 1973.