Gold and $ NIXON MAJOR DECISION
By John Spencer
1973John SpencerUnited StatesEconomic crisisDocks Read the scan at ETOL (PDF) →Read from the scan by machine and not corrected: headlines and words can be misread, and a caption or advert can run into the text. For anything you quote, read the scan.
A MAJOR decision by the Nixon administration inv tem cannot now be long delayed.
The absence of any immediate action by the American government following its Thursday cabinet meeting has created a new upsurge in the price of gold and lurther weak- C....dl-. ened the dollar throughout Europe.
Simultaneously Nixon's position over Watergate has radically worsened with the publication of papers showing his approval of illegal plans to burgle embassies, open mail and tap telephones.
Law-breaker H. R. (Bob) Haldeman, his former chief-of-staff, has directly contradicted Nixon's claim that there was a 'full investigation' last year into White House involvement in Watergate. No such investigation occurred.
Nixon is demonstrably a law-breaker. He and his diminished band of supporters have arrived at a crucial turning point.
Big business is insistently demanding action to slash inflation and openly expressing impatience at his inaction.
The Nixon cabinet's frilena do talen antine thea lalure to lake acuon on the inflationary position in the United States and the Watergate scandal are creating vast divisions within the President's own staff.
John Connally, the former Treasury Secretary, who is now a part-time presidential adviser, reportedly walked into a top-level economic meeting at the White House and wondered to himself: 'What am I doing here?' Attacks on the working class-which have already begun with prices rising at over 20 per cent a year— are a vital part of the strategy Nixon must adopt to meet the crisis.
But he cannot stop here.
An announcement of deflationary measures on the NIXON . . . Arrived at a turning point.
home front must be accompanied by a rise in the price of gold and the imposition of trade barriers against America's capitalist competitors.
This would be a reproduction at a far higher level of the crisis of August 15, 1971, when Nixon ended the dollar's convertibility with It would precipitate the disintegration of the international credit system which has been developing since the breakdown of the post1971. monetary system in 1971. Dockers yesterday against a of 'casua undermin:
Scheme.
at the giant Tilbury dock in Essex voted to take a stand supplementary register I' dockers which would • conditions maintained National Dock Labour Tilbury vote for national fight against casual dockers TILBUR dockers yesterday voted by a large majority to fight the introduction of dockworkers employed without the protection of the National Dock The Port of London Authority want them to accept new recruits under a supplementary register outside the provision of the Scheme, which guarantees dockers job security.
At mass meeting yesterday, shop stewards' chairman, David Marks, proposed fighting the supplementary register on a London-only basis.
He said only London, Manchester and Hull did not have a supplementary arrangement.
Therefore, there was no point in appealing to dockers in other ports who had already accepted it.
Shop steward Alf Waters disagreed. He said the use of the supplementary register was an attempt to smash the National Dock Labour Scheme. He said