In December 1990, the general announced that the army had been put on full alert, sending a warning that he was not happy about an investigation into human rights violations during his Government. Last September, when unidentified remains of victims of his rule were being exhumed, he noted "what good economy" that two or more bodies had been buried in one grave, setting off a public outcry against him.

More recently, the Aylwin Government has admitted that one of its intelligence services spied on General Pinochet, other members of the armed forces and Pinochet-appointed Supreme Court justices.

Military experts predict that in the wake of the Fujimori coup the army is certain to press Mr. Aylwin to increase military spending in an effort to blunt territorial ambitions by the Peruvian armed forces, its traditional enemy.

Despite the tensions, Chile has become one of the most sought after countries in Latin America for foreign investment. The inflation rate this year, expected to be almost 15 percent, could be the lowest on the continent, and economic growth, currently 9 percent, is among the highest.

Much of this was undeniably the product of General Pinochet and the young Chilean economists trained at the University of Chicago who joined his Government in the early 1980's and shaped an open economy. 'Sort of a Father Figure'

When Mr. Aylwin's coalition Government assumed power, many feared that he would change the economic model. But so far changes have been moderate. He has increased business and income taxes about 10 percent, raised the minimum wage, and promoted unionization. He has also increased spending on education, housing and health care for Chile's poor.

"He's sort of a father figure," said Gert Rosenthal, executive secretary of the United Nations Economic Commission on Latin America and the Caribbean. "He's had a very soothing influence on what potentially has been an explosive situation."