US Presidency
1962

Last month in Latin America I saw for myself the quickening of hope, the revival of confidence, the new trust in our country- among workers and farmers as well as diplomats. We have pledged our help in speeding their economic, educational, and social progress. The Latin American Republics have in turn pledged a new and strenuous effort of self help and self reform. To support this historic undertaking, I am proposing under the authority contained in the bills of the last session of the Congress a special long term Alliance for Progress fund of $ 3 billion. Combined with our Food for Peace, Export-Import Bank, and other resources, this will provide more than $ 1 billion a year in new support for the Alliance. In addition, we have increased twelve-fold our Spanish and Portuguese language broadcasting in Latin America, and improved Hemispheric trade and defense. And while the blight of communism has been increasingly exposed and isolated in the Americas, liberty has scored a gain.