Word: partnership
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Dates: during 1960-1969
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Died. Henry C. Alexander, 67, architect of the merger that created Morgan Guaranty Trust, the country's sixth largest commercial bank (assets: $11 billion); of a stroke; in Manhattan. Alexander accepted a partnership in the faltering house of Morgan in 1939, and shook up the stodgy banking community by aggressively scouring the country for new accounts and training a new generation of bright young employees to follow his lead. By 1959, Morgan was a growing, $915 million concern, and Alexander had the stage set for his greatest coup: merger with $3.13 billion Guaranty Trust...
...report, with its blunt recommendations on subjects ranging from trade to health, is far from that. Richard Nixon incorporated some of its suggestions in a policy speech in which he called for a new partnership between the U.S. and the nations of the hemisphere (TIME, Nov. 7). In line with specific Rockefeller proposals, he pledged to channel more U.S. development funds through multilateral agencies, to "untie" aid funds that up to now had to be spent in the U.S., and to accept the existence of military governments without subjecting them to moral judgments. He also raised the Assistant Secretary...
...often demonstrated, at least subconsciously, a paternalistic attitude toward other nations of the hemisphere. It has tried to direct the internal affairs of other nations to an unseemly degree, thinking, perhaps arrogantly, that it knew what was best for them. The U.S. has talked about partnership, but it has not truly practiced...
...have heard many voices from Latin America in these first months of our new Administration-voices of hope, voices of concern, voices of frustration," Nixon declared. "They have told us that if our partnership is to thrive, or even to survive, we must recognize that the nations of Latin America must go forward in their own way, under their own leadership. I recognize the concerns, and I share many of them...
...answer is no-not disengagement, but re-engagement." Nor would the new policy imply economic isolation, he added. "What it does mean is that we would like to dispel the myth that the U.S. is the instant messiah for miracles." The question remains whether Nixon's proposed partnership asks enough of the partners -either the Latin American lands or, for that matter, the U.S. itself...