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Dollar Devaluation Bill Heads to Capitol Hill
The Nixon administration sent Congress a bill to devalue the dollar by 6.57 percent and raise the official gold price from 35 to 42 an ounce. Administration officials predict quick approval while noting progress with Japan and the Common Market. Canada remains unagreed, with talks paused. Multilateral trade negotiations with Japan and the Common Market are planned for next year, subject to council approvals.
MENTIONED IN THIS ARTICLE
Washington
U.S
Nixon
Congress
Japan
Treasury
John B. Connally
Capitol
Canada
Connally
United States
Paul A. Volcker
The
William J. Eberle
Common Market
Eberle