Ike Looks South

During his busy week of work and play in Augusta, Ga. (see NATIONAL AFFAIRS), President Eisenhower also found time to ponder U.S. policy toward Latin America. From the holiday White House came news of three significant plans. P: Next week, in his Foreign Economic Policy Message, the President will ask Congress to establish the International Finance Corp. (TIME, Nov. 22) promised by Secretary of the Treasury George Humphrey at November's economic conference in Rio. Proposed as a $100 million supplement to the World Bank, IFC would lend to private enterprisers rather than governments. The President will also ask Congress to lighten taxation on U.S. firms doing business in Latin America, thus encouraging more investment there. P: Later in January, in a major speech on TV, Milton Eisenhower will make an "encouraging appraisal" of the effects to date of the recommendations that he made late in 1953, after a swing through South America. The President's brother had urged 1) stockpiling of basic commodities to stabilize the economies of producing nations, 2) grants of food in emergencies,

3) "sound economic development" loans,

4) expanded technical assistance, and 5) the tax reforms that Ike will propose. Adviser Eisenhower will be able to report some progress on every point.

P: In February Vice President Richard Nixon and his wife Pat will make an unhurried good-will tour of Central America. Tentative itinerary: Panama, Costa Rica, Nicaragua, El Salvador, Honduras, Guatemala. Milton Eisenhower hopes to accompany the Nixons at least part of the way.

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