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Dollar #227709

CBS Evening News for Friday, Mar 02, 1973
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(Studio) International money mkts. closed today, but in unofficial trading value of dollar continues to plunge. Common market cntrys. will meet and discuss issue Sunday in Brussels.
REPORTER: Walter Cronkite

(London, England) Commercial banks busy buying and selling dollars. [Samuel Montagu and Company Limited spokesperson Guy FIELD - says businesses losing confidence in paper money in general. If trend continues could lead to severe depression.]
REPORTER: John Laurence

(Bonn, West Germany) UK Prime Minister Edward Heath and West German Chancellor Willy Brandt hold meeting on money crisis. Value dollar down 6% since yesterday. [HEATH - says little rational explanation exists for new crisis.] [Former West German Econ. Min. Karl SCHILLER - says major national companies selling dollars because know value too high and must drop.] Speculators are companies like Ford, General Motors and IBM, among others.
REPORTER: John Sheahan

(Studio) Ford, General Motors Corporation and IBM deny speculating with dollar.
REPORTER: Walter Cronkite

Reporter(s):
Cronkite, Walter;
Laurence, John;
Sheahan, John
Duration:
00:04:10

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