In summary, the 24 legislative proposals-the major ones--that I have sent to Congress, have also included proposals ranging from an overhaul of forei… - Richard Nixon

Other administration amendments to the Family Assistance Act make important changes. For example: Phasing out the special program for unemployed fathers, thus eliminating one of the most serious disincentives noted by the Senate Finance Committee; Limiting the welfare burden of the States by placing a ceiling on their financial obligations under the program; Strengthening the work requirement; and reducing areas of administrative discretion. Nowhere has the failure of government been more tragically apparent in past years than in its efforts to help the poor. The 91st Congress has an historic but rapidly vanishing opportunity to reverse that record by enacting the Family Assistance Act of 1970. Let there be no mistake about this administration's total commitment to passage of this legislative milestone this year.

As we seek to forge a new partnership, we must recognize that we are a community of widely diverse peoples. Our cultures are different. Our perception are often different. Our emotional reactions are often different. May it always be that way. What a dull world it would be if we were all alike. Partnership-mutuality--these do not flow naturally. We have to work at them. Understandably, perhaps, a feeling has arisen in many Latin American countries that the United States really "no longer cares." Well, my answer to that tonight is very simple. We do care. I care. I have visited most of your countries, as I said before. I have met most of your leaders. I have talked with your people. I have seen your great needs as well as your great achievements. And I know this, in my heart as well as in my mind: If peace and freedom are to endure in this world, there is no task more urgent than lifting up the hungry and the helpless, and putting flesh on the dreams of those who yearn for a better life. Today, we in this American community share an historic opportunity. As we look together down the closing decades of this century, we see tasks that summon the very best that is in us. But those tasks are difficult precisely because they do mean the difference between despair and fulfillment for most of the 600 million people who will live in Latin America in the year 2000. Those lives are our challenge. Those lives are our hope. And we could ask no prouder reward than to have our efforts crowned by peace, prosperity, and dignity in the lives of those 600 million human beings-- in Latin America and in the United States--each so precious, each so unique--our children and our legacy.

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.