JFK WANTS $500 MILLION FOR LATIN AMERICAN PROGRAM
Washington, D.C. (JFK+50) On March 13, 1961, President John F. Kennedy sent a request to the United States Congress for $500 million to promote economic development, social progress and political freedom in Latin America. The proposed ten year plan would be known as the Alliance for Progress*.
The President stated...
"We propose to complete the revolution of the Americas, to build a hemisphere where all...can hope for a suitable standard of living and can live...in dignity and freedom."
The program called upon countries of Latin America to invest $80 billion over ten years with the United States guaranteeing $20 billion.
Although considered successful in the short-term, the Alliance for Progress did not achieve long-term success after President Kennedy's death.
*Alliance for Progress (1961-1973) was established by the United States and 22 Latin American nations. According to the National Postal Museum, the AFP intended to "counter the appeal of revolutionary politics."
SOURCE
"Alliance for Progress," Celebrating Hispanic Heritage, Smithsonian National Postal Museum, www.postalmuseum.si.edu/
