This Day In 1970's History: Friday December 1, 1972
- The United States will reportedly sign a peace agreement with North Vietnam regardless of the wishes of South Vietnam. President Thieu must sign the pact or risk the suspension of all American aid. North Vietnam will release American POW's within 10 days of the signing. Meetings between South Vietnamese envoy Nguyen Phu Duc, Henry Kissinger and President Nixon resulted in no American concessions to South Vietnam's point of view on the terms for peace. The peace agreement with North Vietnam will probably be signed by Christmas, and it will have a reluctant endorsement from South Vietnam. [CBS]
- Seven people were reported to have been killed in a plane crash in South Vietnam. Two of the dead were employees of the Agency for International Development. South Vietnamese General Tran Van Phong was also killed. [CBS]
- The White House announced that President Nixon will retain George Shultz as Treasury Secretary, with vastly expanded economic powers. Shultz will be a special assistant to the President in all economic matters, domestic and international. Shultz denied that the position makes him the "Henry Kissinger of the economy." Herbert Stein will stay on as chairman of the Council of Economic Advisers, and Peter Flanigan will remain as assistant to the President for international economic issues; Shultz will oversee both.
It was also announced that U.S. Information Agency director Frank Shakespeare will leave the administration. [CBS]
- The Price Commission allowed General Motors and Ford to raise prices for their 1973 models because of the new mandated safety and pollution devices and low profit margins. Senator William Proxmire strongly denounced the price hikes. [CBS]
- Bombs in Dublin, Ireland, killed two people and injured dozens more. As a result of the bombings, Premier Jack Lynch has obtained support from former opponents of his anti-IRA bill. [CBS]
|
