Statement by the President Concerning a Program for the Development of Peru.

THE PURPOSES of this program are closely in accord with those which I had in mind on July 11 when I stated that a new affirmation of purpose was called for in our cooperation with friendly developing Latin American countries in their efforts to progress. I stated that the aspirations and needs of the peoples of the Americas for free institutions and a better way of life must be met, and that among the things I had in mind were the opening of new areas for settlement and opportunities for free self-reliant men to own their own land and their own homes.

The Government of Peru has succeeded in establishing internal financial stability and strengthening its economy, essential foundations for accelerated economic and social progress. It has established a concrete program to achieve such progress and it will dedicate substantial resources to this end. Its program is to open for settlement virgin lands in the rich Upper Selva, to make better use of land now under cultivation, and to give urban working families the opportunity to own their own homes.

Representatives of the Export--Import Bank, the Development Loan fund, the International Cooperation Administration, and the Department of State recently visited Peru and discussed the details of this program with President Prado, Prime Minister Beltran, Cabinet Ministers and other officials responsible for the program. They personally inspected, from the air and on the ground, typical areas already settled and to be settled, and urban areas where new homes are being built for workers and their families.