TEXT OF TERM OF REFERENCE 1) b) OF FEBRUARY 6, 1988 REGISTERED LETTER TO THEN-NEW YORK STOCK EXCHANGE C.E.O. JOHN J. PHELAN, JR.:

Excerpted from February 24, 1982 speech by U.S. President Ronald Reagan to 'The Organization of American States':

"...We share a common destiny. We, the peoples of the Americas, have much more in common than geographical proximity. For over 400 years, our peoples have shared the dangers and dreams of building a new world. From colonialism to nationhood, our common quest has been for freedom. Most of our forebears came to this hemisphere seeking a better life for themselves; they came in search of opportunity and, yes, in search of God.

"...Gradually...the nations of this hemisphere developed a set of common principles and institutions that provided the basis for mutual protection.

Some 20 years ago, John F. Kennedy caught the essence of our unique mission when he said it was up to the New World to demonstrate that man's unsatisfied aspiration for economic progress and social justice can be achieved by free men working within a framework of democratic institutions."



The closing remarks from the same speech:

"The Western Hemisphere does not belong to any one of us--we belong to the Western Hemisphere. We are brothers historically as well as geographically. Now, I'm aware that the United States has pursued good-neighbour policies in the past. These policies did some good, but they're inadequate for today. I believe that my country is now ready to go beyond being a good neighbour to being a true friend and brother in a community that belongs as much to others as to us. That, not guns, is the ultimate key to peace and security for us all.

We have to ask ourselves why has it taken so long for us to realize the God-given opportunity that is ours. These two great land masses--North and South, so rich in virtually everything we need--together our more than 600 million people can develop what is undeveloped, can eliminate want and poverty, can show the world that our many nations can live in peace, each with its own customs and language and culture, but sharing a love for freedom and a determination to resist outside ideologies that would take us back to colonialism.

We return to a common vision. Nearly a century ago, a great citizen of the Caribbean and the Americas, Jose Marti, warned that mankind is composed of two sorts of men: those who love and create, and those who hate and destroy. Today more than ever, the compassionate, creative peoples of the Americas have an opportunity to stand together, to overcome injustice, hatred and oppression, and to build a better life for all the Americas.

I have always believe(sic) that this hemisphere was a special place with a special destiny. I believe we are destined to be the beacon of hope for all mankind. With God's help, we can make it so. We can create a peaceful, free and prospering hemisphere based on our shared ideals and reaching from pole to pole of what we proudly call the New World."


President Reagan: I edited the first excerpt here in deference to what is annotated in the second. I believe this would be more consistent with the 1978 term of reference i prepared which i think you drew the basic reasoning here from.
I went to the Vancouver Public Library to get the text of this speech last March, at which time i was working on preliminary drafts of this report to you. Only a few weeks later, on April 6, 1987, you gave an address to the Canadian Parliament, which echoed a lot of what's here. Unfortunately, unlike the New York Times, no major Canadian newspaper prints excerpts from major speeches and i couldn't use it, therefore.
Regardless, as is explained in the formal report here to you, the issue is that i reacted as i describe after having the speech excerpted here.
I will have more to say about this matter in the final segment of this report to you. I underline "democratic institutions" because it's one of three uses of the term i found of relevance to the "present situation."
I'll elaborate on the other attachment here in the final segment of this report. I include it here now so you do understand that i did agree with what you said as quoted above.


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