145. Editorial Note
On January 8, 1958, Deputy Under Secretary of State for Economic Affairs Dillon spoke in Philadelphia about foreign investment and economic development as a means to counter the Soviet economic offensive. For text of his statement, see Department of State Bulletin, January 27, 1958, pages 139–143.
The following day, President Eisenhower strongly endorsed the economic assistance program in his State of the Union message. After outlining the program’s benefits, he noted he was promoting greater use of repayable loans and a shift to private sources of capital for economic aid. Eisenhower stressed his belief that the economic assistance program was one of the most vital tools of the U.S. security program. For text, see American Foreign Policy: Current Documents, 1958, pages 1–8.