Editing 78-03-A1 (section)

= Panama Canal Debate =

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=== Transcript ===
If you've followed the Senate debate over the Panama Canal treaties you know
that the senators have examined some aspects of the issue with a fine-tooth comb.
Still, worries won't go away over the possible cost to the American taxpayers,
over the Panamanian government's ability to manage the Canal and, most of all, over
the possible consequences of these treaties to our security.

Many Panamanians have worries over the treaties, too. An American who
lived in Panama for many years and visits there often, wrote to me the other day
to say that what a large number of Panamanians want -- especially the young people --
is democratic government. He quoted one young Panamanian professional, a recent
graduate of the university there, as voicing the views of many when he told my
correspondent --QUOTE-- "The Canal is not a solution right now. It is a problem.
Panama's greatest need at the moment is the gradual creation of an honest,
efficient, responsible government deriving its power from the people under law".
--UNQUOTE--

The Torrijos regime seems a lot less interested in principles such as this
young man expresses than it does in making money. For example, word comes from
New York that an underwriting firm is in discussion with the Torrijos regime
to issue between 50 and 100 million dollars worth of long-term bonds, payable out
of canal tolls after the treaties are ratified. Torrijos has already run up
Panama's indebtedness to more than one-and-a-half billion dollars since he came
to power nine years ago. The country's debt at that time was only $167 million.

Worries that the American taxpayer will end up footing a hefty bill for the
Canal turn-over won't go away. Recently, the Carter administration, after
insisting for weeks that the treaty payments to Panama would be covered by tolls,
finally admitted that there would be a cost to the taxpayers of $600 million.
Outside estimates go much higher than that.

On the security issue, an important item comes from the respected English
publication, The Intelligence Digest. It says, --QUOTE-- "Plans are being formulated
at Patrice Lumumba university in Moscow for the establishment of a subversive
network in the United States using illegal immigrants from Mexico. This is linked
to developments throughout the Central American area. The U.S. border with Mexico
is left open effectively for political purposes and plans are being made in
Moscow and Havana to train Mexican activists who will, at the right time, stimulate
nationalist claims to those parts of the United States "stolen from Mexico."
But, first the Panama Canal has to be eased from United States control." --UNQUOTE--

This is a time for Congress to take its time and let the legislative wheels
grind slowly and exceedingly fine on every aspect of the Panama Canal treaties. 

This is Ronald Reagan.

Thanks for listening.
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=== Details ===
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<TR><TD WIDTH="150">Batch Number</TD><TD WIDTH="150">{{PAGENAME}}</TD></TR>
<TD>Production Date</TD><TD>02/20/[[Radio1978|1978]]</TD></TR>
<TD>Book/Page</TD><TD>[[Radio_Commentary_Books#Reagan.27s_Path_to_Victory|RPtV-264]]</TD></TR>
<TD>Audio</TD><TD></TD></TR>
<TD>Youtube?</TD><TD>No</TD></TR>
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===Added Notes===

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