Remarks at the Signing of an Agreement Providing for a Loan to the Central American Bank for Economic Integration.

Distinguished guests, members of the diplomatic corps, Members of Congress:

I regret that these days and nights I am usually an hour late and a dollar short, but it is good to finally be here with you, and this house is honored today by the 'presence of such distinguished company. I am deeply privileged to extend to each of you a very warm welcome.

For all Americans of all the Americas, today is a very proud occasion. I believe we realize the real meaning of this moment as much more than just signing the papers that are before us. In a real sense, by what we have come to do, we really honor the spirit--the new and the soaring spirit--that is stirring throughout the length of this young and this proud and this newly hopeful Western Hemisphere of ours. No cynicism can corrode the promise that is beginning to gleam so brightly in the sun of this New World's new day, for we are thinking as we have never had cause to really think before as Americans, as peoples, as nations, sharing not just a common history or even a common geography, but sharing a common vision and possessing common aspirations.

That spirit was brought to life here in this room 4 years ago when a good many of you heard President Kennedy speak his hopes, and speak the hopes of his countrymen, that the Americas could ally themselves together in peace to better the life of man in all the Americas.

We see that spirit gaining substance and reality now in a good many lands. But nowhere do we see it more than in the lands of Central America--Guatemala, Honduras, El Salvador, Nicaragua, Costa Rica. They have, in a series of acts of the highest statesmanship, embarked upon a process of integrating their economies which is one of the really most exciting undertakings of our world today.

Together these nations have created a common market. They have leveled their trade barriers. They have coordinated their efforts in higher education. They have done the same for their tax systems and their development planning. And they are all making an effort to cope with the problems created by the ancient enemies of all mankind--disease, poverty, and illiteracy.

And the results are already apparent and already gratifying. Trade among these nations has amounted to $20 million in 1958, but it reached $105 million last year, and the gross national product is rising at a rate of close to 7 percent a year. In support of these historic advances a key role is today being filled by the Central American Bank for Economic Integration. It is represented here today by its able and dynamic president, Dr. Delgado.

This Bank is capitalized by equal contributions from the five Central American countries. But as the governments have pledged mutual support to each other, so the members of the Alliance have pledged support to them.

In March 1963, in Costa Rica, our late beloved President John Kennedy pledged this country's support. And so today we have come here to fulfill that pledge by signing this loan agreement for $35 million.

Yes, great progress has been made in Central America, but the future offers greater promise, both there and throughout the hemisphere. The Central American Republics are providing all their neighbors and all the world what I would think is a very stirring example of what can be accomplished by free men with vision and with wisdom and with courage. And we of the United States are very proud to be fortunate enough to work with them in this very hopeful enterprise.

We are so grateful for your friendship, for your loyalty, for your cooperation in trying to solve the problems of this hemisphere and trying to be equal to the challenges of the 20th century. And we want you to know that, and we want your governments to know it.

And so this morning, to the distinguished representatives of Central America that may be present on this historic occasion, I would affirm again my country's deep respect and admiration and support for your efforts. And likewise, to the distinguished representatives of the Organization of American States, the CIAP, and the Inter-American Development Bank, I would reaffirm the interest and the support of the United States of America for economic integration throughout this hemisphere.

In all the world there are no dreams so stirring or so exciting or so inspiring as those that we can dream realistically and reasonably now in our own hemisphere. The day is no longer so dim and distant as once it seemed to be when those dreams begin to reach the lives of all our people, for we can truly believe that that day has already dawned and we are now working in its early morning. Long before the twilight of this century has come, we may believe that men and women of the Americas will come to know a much better life, a life of peace, a life of social justice, a life of liberty, a life of independence, a life where reason rules and where tyranny is vanquished.

And it is toward this happy hour that we work together now with a steady purpose and with a rising confidence and with a deep appreciation of what friendship and understanding really means.

I'm sorry I was late. Thank you so much for coming.