A President in Office

On the face of it, Peru last week had as much reason for rejoicing as Argen tina. After free elections, the military junta that had been running the country for more than a year stepped peacefully aside for the inauguration of President Fernando Belaunde Terry, 50, a vigorous and ambitious architect. Peru's economy, left in good shape by the sound policies of ex-Premier Pedro Beltran, and well tended by the interim military government, was in blooming health. The sol is one of the solidest currencies in Latin America. Foreign reserves stand at a fat $106 million, old industries like copper mining are expanding, and new industries like fish-meal fertilizer are running strong.

Now it is time, Belaunde feels, to be gin bridging the deadly gulf between Peru's haves and have-nots by develop ing the nation that lies beyond the cities and the factories. During his campaign, Belaunde journeyed to the remote out back of eastern Peru by canoe and mule team; ever since, he has talked endlessly of the riches that lie away from the sea, beyond the Andes. To open up the area to farmers and livestock producers, he talks of a new $216 million highway with almost mystical fervor. Another ambition is to start communal self-help programs, following a pattern set back in the old Inca empire days.

Across his path stand barriers of political enmity and grudge. A year ago, in a disputed three-way election, old-time Revolutionary Victor Raul Haya de la Torre, 68, beat Belaunde by a bare 12,867 votes, but did not win the legally required one-third majority. The army, which bitterly dislikes Haya, an nulled the election and took over the country. Fairly defeated this time by Belaunde but still feeling cheated, Haya last week joined political forces with the third candidate, ex-Dictator General Manuel Odria, 65, to form an alliance in Congress giving them a clear majority over Belaunde. Then as an added slight to Belaunde, and an added complication to a nation that badly needs political tranquillity, Haya disappeared from Lima just as Belaunde's inauguration got under way.

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