-4— each of the freely associated states and it will define their international political status. The political status which the peoples of the Trust Territory have chosen in approving the Compact is not independence nor is it that of a United States territory. Rather, the Compact, like the present Trusteeship Agreement, recognizes the inherent sovereignty of the peoples of the freely associated states and thus recognizes a legitimate foundation for their constitutions and their governmental acts. Under the Compact of Free Association, the Federated States of Micronesia and the Marshall Islands will be fully self-governing and the United States will recognize their competence to conduct . their own foreign affairs, subject to the full authority and responsibility of the United States for all security and defense Matters im or relating to the Federated States of Micronesia and the Marshall Islands, which is a central element of the overall free association relationship. Economic assistance from the United States to each of the freely associated states will run for an initial period of fifteen years. All of the provisions of the Compact of Free Association have been carefully negotiated, were mutually agreed and have been specifically approved by the peoples of the Federated States of Micronesia and the Marshall-Islands in the plebiscites I have mentioned. I request that Congress take note of the agreements subsidiary to the Compact which are included in my transmission with the Joint Resolution. These agreements have all been negotiated, mutually agreed and fully approved by the Federated