ETA–43. Memorandum from the Counselor of the Department of State (Achilles) to Acting Secretary of State1
The new “common man” program for Latin America should help to fill a major gap in plans and resources for development of the area. It will, however, deal only with one aspect of the larger problem of its accelerated economic and social development. The larger problem is both long-term and urgent and will require very large resources.
I recommend that in formulating and implementing the program, and at the Bogotá meeting, we give it major emphasis but keep it in the broader context. (The Latin Americans certainly will.) While naturally large amounts of straight “aid” will be necessary both for the common man and broader programs, I would hope that we could think and talk less in terms of “aid” than of “accelerated economic and social development.” This means endeavoring to mobilize and coordinate all available resources toward such accelerated development - private investment both local and foreign, foreign loans both hard and soft, U.S. grants and technical assistance, U.N. Special Fund and technical assistance, the big foundations, U.S. insurance companies, building and loan associations, etc.
There is plenty of room for everybody and they will all be needed.2
- Source: Department of State, Central Files, 371.04/7–2960. Official Use Only. Drafted and initialed by Achilles.↩
- A hand-written marginal notation on the source text, addressed to the Acting Secretary from his Special Assistant, John M. Leddy, reads as follows: “This is a much larger idea than we can properly present at Bogotá & sounds like massive aid to achieve ‘take-off’.”↩