Perfect peace has no historical antecedents and therefore no practical meaning in a world in which conflict among men is persistent and pervasive. If… - Richard Nixon

I would like to turn now to a vital subject in connection with economic development in the hemisphere, namely, the role of private investment. Now, clearly, each government in the Americas must make its own decision about the place of private investment, domestic and foreign, in its development process. Each must decide for itself whether it wishes to accept or forgo the benefits that private investment can bring. For a developing country, constructive foreign private investment has the special advantage of being a prime vehicle for the transfer of technology. And certainly, from no other source is so much investment capital available, because capital, from government to government on that basis, is not expansible. In fact, it tends now to be more restricted, whereas, private capital can be greatly expanded. As we have seen, however, just as a capital-exporting nation cannot expect another country to accept investors against its will, so must a capital-importing country expect a serious impairment of its ability to attract investment funds when it acts against existing investments in a way which runs counter to commonly accepted norms of international law and behavior. Unfortunately, and perhaps unfairly, such acts by one nation in the Americas affect investor confidence in the entire region. We will not encourage U.S. private investment where it is not wanted or where local political conditions face it with unwarranted risks. But I must state my own strong belief, and it is this: I think that properly motivated private enterprise has a vital role to play in social as well as economic development in all of the American nations. We have seen it work in our own country. We have seen it work in other countries--whether they are developing or developed--other countries that lately have been recording the world's most spectacular rates of economic growth. Referring to a completely other area of the world, the exciting stories of the greatest growth rates are those that have turned toward more private investment, rather than less. Japan we all know about, but the story is repeated in Korea, in Taiwan, in Malaysia, in Singapore, and in Thailand. In line with this belief, we are examining ways to modify our direct investment controls in order to help meet the investment requirements of developing nations in the Americas and elsewhere. I have further directed that our aid programs place increasing emphasis on assistance to locally-owned private enterprise. I am also directing that we expand our technical assistance for establishing national and regional capital markets. As we all have seen, in this age of rapidly advancing science, the challenge of development is only partly economic. Science and technology increasingly hold the key to our national futures. If the promise of this final third of the 20th century is to be realized, the wonders of science must be turned to the service of man. In the Consensus of Vina del Mar, we were asked for an unprecedented effort to share our scientific and technical capabilities. To that request we shall respond in a true spirit of partnership.

Looking back over the history of the cases, as I said when you were here before on the; Burger matter, among my heroes of the Court is Louis Brandeis. If philosophy were a test for him, he would have been ruled out because he was too liberal. Another was Charles Evans Hughes. If philosophy had been a test for him he would have been ruled out because he was too conservative in representing the business interests. As far as philosophy is concerned, I would be inclined to agree with the writer for the St. Louis Post Dispatch who said he thought Judge Haynsworth was a man with a razor sharp mind and a middle of the road record on the major issues. But if Judge Haynsworth's philosophy leans to the conservative side, in my view that recommends him to me. I think the Court needs balance, and I think that the Court needs a man who is conservative and I use the term not in terms of economics, but conservative, as I said of Judge Burger, conservative in respect to his attitude towards the Constitution. It is the judge's responsibility and the Supreme Court's responsibility, to interpret the Constitution and interpret the law, and not to go beyond that in putting his own socio-economic philosophy into decisions in a way that goes beyond the law, beyond the Constitution

Well, you can just stop and think of what could happen if anybody with a decent system of government got control of that mainland. Good God. There'd be no power in the world that could even — I mean, you put 800 million Chinese to work under a decent system and they will be the leaders of the world