US Politics - Government
Aug. 17, 1971 - The American Dollar-Crisis: On the face of the American minister of finances John B. Conally (photo) you can see the situation about the US-Dollar now. President Nixon held a television and radio speech which should help to recognize the economy and currency of the USA. This includes the Convertibility of the Dollar in gold, a three-months salary-, prize-and rent stop and a special tax of 10 % for foreign imports and a few more tax-changes for the economy. This way they want to reach, getting better working-places, stop the rising coats and to protect the Dollar against foreign currrency-speculators. Those foreign by president Nixon brought a big insecurity to Europe; the reaction was that most of the European devise markets where shut. (This photo of Conally was taken during the International Bank Conference the last Dollar-Crisis in May 1971 in Munich (West germany)
