• Short Summary

    PRESIDENT KENNEDY HAS FIRMLY REJECTED ANY SUGGESTION THAT THE DOLLAR SHOULD BE DEVALUED, AND HAS RE-AFFIRMED THAT ITS RELATIONSHIP WITH GOLD, IS TO REMAIN UNCHANGED AT THE CURRENT PRICE OF 35 DOLLARS (GBP12.8s) PER OUNCE.

  • Description

    1.
    CU KENNEDY SPEAKING SOF BEGINS: "BY PRECIPITOUS ACTION........ SOF ENDS: "....WE WILL DO JUST THAT."
    1.05


    TRANSCRIPT: PRESIDENT KENNEDY: ".....BY PRECIPITOUS ACTION TO IMPROVE OUR POSITION AT THE EXPENSE OF OTHERS. WE DO SEEK BY COMPREHENSIVE EFFORTS, CONSISTENT WITH OUT INTERNATIONAL RESPONSIBILITIES, TO REDUCE OUR OUTFLOWS WHICH ARE WEAKENING OUR CAPACITY TO SERVE THE WORLD COMMUNITY. IN SHORT, EVERY NATION IN THE WORLD HAS A DIRECT INTEREST, FOR THE DOLLAR IS AN INTERNATIONAL CURRENCY, AND THE SECURITY OF THE DOLLAR THEREFORE INVOLVES THE SECURITY OF US ALL. WE ARE FULLY AWARE OF THE EFFECTS OF OUR ACTIONS ON OUR FRIENDS, BUT NONE SHOULD CONFUSE CAUTION WITH ANY LACK OF DETERMINATION. WE ARE DETERMINED TO DO WHATEVER MUST BE DONE, IN THE INTEREST OF THIS COUNTRY AND INDEED IN THE INTEREST OF ALL TO PROTECT THE DOLLAR AND THE CONVERTIBLE CURRENCY AT ITS PRESENT FIXED RATE. WE ARE DETERMINED, I BELIEVED IN YOUR INTERESTS AS WELL AS OUR OWN, TO MAINTAIN THE FIRM RELATIONSHIP OF GOLD AND THE DOLLAR AT THE PRESENT PRICE OF THIRTY-FIVE DOLLARS AN OUNCE AND I CAN ASSURE YOU THAT WE WILL DO JUST THAT."




    Initials JM/N/WH/GH



    Script is copyright Reuters Limited. All rights reserved

    Background: PRESIDENT KENNEDY HAS FIRMLY REJECTED ANY SUGGESTION THAT THE DOLLAR SHOULD BE DEVALUED, AND HAS RE-AFFIRMED THAT ITS RELATIONSHIP WITH GOLD, IS TO REMAIN UNCHANGED AT THE CURRENT PRICE OF 35 DOLLARS (GBP12.8s) PER OUNCE.

    THE PRESIDENT WAS ADDRESSING THE OPENING SESSION OF THE ANNUAL INTERNATIONAL MONETARY FUND AND WORLD BANK MEETING, YESTERDAY IN WASHINGTON.FINANCE MINISTERS AND TOP OFFICIALS FROM MORE THAN 100 COUNTRIES ARE ATTENDING.

    MR.KENNEDY SAID THAT WE ARE ENTERING A NEW ERA OF ECONOMIC INTERDEPENDENCE, AND STRESSED THAT IT IS IN EACH COUNTRY'S SELF INTEREST TO JOIN IN HELPING OTHER NATIONS.HE GAVE A PLEDGE, THAT IN EFFORTS TO BRING ITS INTERNATIONAL BALANCE OF PAYMENTS INTO LINE, THE UNITED STATES WOULD DO EVERYTHING POSSIBLE TO PREVENT ITS GAINS FROM DAMAGING FREE WORLD TRADING PARTNERS.

    THE PRESIDENT WAS REPLYING TO RUMOURS THAT THE UNITED STATES MIGHT POSSIBLY RESORT TO DEVALUATION, AS ONE MEANS OF IMPROVING ITS BALANCE OF PAYMENTS POSITION.

  • Tags

  • Data

    Film ID:
    VLVACE8F5YDYLO4E7WYFOOHFRE3TU
    Media URN:
    VLVACE8F5YDYLO4E7WYFOOHFRE3TU
    Group:
    Reuters - Source to be Verified
    Archive:
    Reuters
    Issue Date:
    01/10/1963
    Sound:
    Unknown
    HD Format:
    Available on request
    Stock:
    Black & White
    Duration:
    00:01:06:00
    Time in/Out:
    /
    Canister:
    N/A

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