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Devaluation #227148

CBS Evening News for Wednesday, Feb 14, 1973
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(Studio) Many money mkts. open for first time since dollar devalued.
REPORTER: Walter Cronkite

(Tagliacozzo, Italy) Retired Italian-Americans living here on Social Security benefits unhappy about devaluation. [Fanny PAPPALARDO - says did consider herself wealthy, but not any more.] [Vincenzo AMICUCCI - says devaluation hurts him.]
REPORTER: Tom Fenton

(Paris, France) Prof. J. Townsend of Kirkland College in Clinton, New York, is dir. of academic year abroad for American students studying in Paris. [TOWNSEND - says devaluation means students will get to do fewer things while abroad.]
REPORTER: Peter Kalischer

(Frankfurt, West Germany) GI's in West Germany unhappy about devaluation. Some GI family wives getting jobs now. Others won't be able to make ends meet at all. [sergeant Robert SOSENICK - says wife and baby will have to go home now. Just isn't enough money.]

(Studio) Pentagon estimates devaluation means $80 million more in expenses this year and $200 million more next year because of higher costs of overseas operations. Govt. reports trade deficit for October-December was $1.4 billion and is factor responsible for devaluation. Deficit for year was over $10 billion.
REPORTER: Walter Cronkite

Cronkite, Walter;
Fenton, Tom;
Kalischer, Peter;
Simon, Bob

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