Office of the Historian

45. Memorandum of Meeting1

Washington, February 11, 1967.

PARTICIPANTS

  • The President
  • Secretary Rusk
  • Assistant Secretary of State Lincoln Gordon
  • U.S. Ambassador to the Organization of American States Sol Linowitz
  • Mr. Walt Rostow
  • Mr. William Bowdler

Secretary Rusk opened the meeting by explaining the nature of the two conferences he would be attending in Buenos Aires,2 i.e., approval and signature of OAS Charter amendments and preparation for the OAS

On the Summit meeting he described what we expected the Latin Americans to do in negotiating a Common Market. We would help them by contributing $300 million over a period of years for integration adjustment assistance after they negotiated a treaty. The Secretary mentioned that the Europeans might be persuaded to contribute the remaining $125 million which we made available to the European Monetary Agreement members.

Mr. Gordon pointed out that the $123.5 million left was being considered for possible use in supporting a world-wide agricultural diversification fund. We need a decision on which project it should be used for, assuming we can get the Europeans to relinquish their claim. The President asked Secretary Rusk and Mr. Rostow where the $125 million should be put. They both recommended the Latin American Common Market. The President told them to proceed on this basis.

Secretary Rusk next brought up the replenishment of the IDB/FSO (Inter-American Development Bank Fund for Special Operations). The President asked whether any or all of the $300 million contemplated [Page 113] was in the FY 1968 budget. A quick check with Budget Bureau Director Schultze revealed that none had been included. Following further discussion of the amounts required by our Summit package and the inter-agency disagreement on its elements, the President said that he wanted Congressional approval before he made a commitment of the magnitude contemplated. He directed that a joint resolution be prepared, separate from the AID bill, which would place the Congress behind the Summit offer. Secretary Rusk could test the willingness of the Latin Americans at Buenos Aires to assume the commitments we want. If he finds a basis for the Summit, then we can use the time between the Buenos Aires meeting and the Summit to put the joint resolution through.

WGB
  1. Source: Johnson Library, National Security File, NSC Histories, OAS Summit Meeting 4/67, Chron. 4/1/66–3/13/67. Secret. Drafted by Bowdler. A copy was sent to Rostow. The memorandum indicates the meeting began “at approximately 1:00 p.m.” and was held in the President’s office.↩
  2. Reference is to the Third Special Inter-American Conference and the Eleventh Meeting of Consultation of Ministers of Foreign Affairs of the American Republics, held in Buenos Aires, February 15–27 and February 16–26, respectively. Documentation on both is in the National Archives and Records Administration, RG 59, Conference Files, 1966–72: Lot 67 D 586, CF 122 through CF 133; and the Johnson Library, National Security File, International Meetings and Travel File, Third Special IAC and Eleventh MFM Bilateral Papers, 2/67. Also see Document 46.↩