Speech #980194179

For a total cash outlay of $400 millionhalf of which would be contributed by Mexicothere would be $4 billion in loan resources. What is more. additional capital could be created in the same way. yielding $9 worth of additional loan money for every dollar actually paid into the bank by the Treasury or by Mexico. The bank could endeavor to finance economic development in those areas of Mexico that are known to be the main sources of this countrys illegal immigrants. However. such targeting is not nearly so important as the fact that jobs must be generated in Mexicosince each job generated is one job less that would need to be sought in this country. Moreover. Mexico is changing rapidly from a rural to an urbanized society. so that the sources of illegal immigration can no longer be presumed to be simply the poor villages. In the United States. the bank could help finance industry and basic infrastructure requirements along the border regionfor example. rebuilding the citrus industry. which was devastated by last winters freeze. or by financing entry into farming or business by people in that area who are today without jobs. power. or any real hope for a better future. The need is urgent. because mass unemployment cannot be tolerated on either side of the border.