but we invite merely discouragement by making that our only

but we invite merely discouragement by making that our only and immediate goal中 that是介导从句吗?
还是that就是个副词之类的?

本句为1963年美国总统肯尼迪的演讲内容,句中that是不是从句的引导词,而是代词,代指the value of hopes and dreams.
【原文】First examine our attitude towards peace itself.Too many of us think it is impossible.Too many think it is unreal.But that is a dangerous,defeatist belief.It leads to the conclusion that war is inevitable,that mankind is doomed,that we are gripped by forces we cannot control.We need not accept that view.Our problems are manmade; therefore,they can be solved by man.And man can be as big as he wants.No problem of human destiny is beyond human beings.Man's reason and spirit have often solved the seemingly unsolvable,and we believe they can do it again.I am not referring to the absolute,infinite concept of universal peace and good will of which some fantasies and fanatics dream.【 I do not deny the value of hopes and dreams but we merely invite discouragement and incredulity by making that our only and immediate goal.】
（Address by President Kennedy at The American University,Washington,D.C.,June 10,1963）
【翻译】第一,我们要检讨自己对和平本身的态度.我们当中有很多人认为和平是不可能的.很多人认为这是不现实的.然而,这是一种危险的失败主义观念.这种观念得出的结论是,战争不可避免,人类在劫难逃,我们受制于我们无法控制的力量.我们并非一定要接受这种观点.我们的问题是人造成的,因此可以由人来解决.而人的心有多大,其能力就有多大.涉及人类命运的问题无一超出人类的能力.人的理性和精神经常使貌似无解的问题得到解决,我们相信,人的理性和精神可以再次奏效.我指的不是某些幻想家和狂热派所梦想的那种绝对的、无限的和平与亲善的概念.【我不否认希望与梦想的价值,但是,我们如果将其作为唯一的即期目标,则只会导致气馁和疑虑.】