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News stories from Monday September 1, 1975
Summaries of the stories the major media outlets considered to be of particular importance on this date:
- President Ford is expected to decide soon whether to ask Congress to authorize a quasi-public corporation that would provide up to $100 billion to finance projects aimed at making the United States independent of foreign sources of energy. Several government officials said the decision would be made by Mr. Ford tomorrow or Wednesday on the basis of a new draft of the necessary legislation. [New York Times]
- West Germany and Japan joined the United States in resisting pressure from the international community to stimulate their economies faster in order to lead the world out of recession. In another development on the opening day of the annual meeting of the International Monetary Fund and World Bank in Washington, Robert McNamara, the bank's president, disclosed that it would direct more of its lending in the future toward solving the problem of urban poverty in the less developed countries. It began an attack on rural poverty two years ago. Results so far have been uncertain. [New York Times]
- Israel and Egypt formally initialed a new agreement providing for Israel's withdrawal from some occupied territory in Sinai in return for modest Egyptian political concessions and major pledges of support from the United States. The accord was a foreign policy achievement for the Ford administration.
Clearly pleased at the completion of the new interim agreement between Israel and Egypt, President Ford hailed it as "one of the most historic" peace ventures of the century. In telephone calls from Camp David to Premier Yitzhak Rabin of Israel and President Anwar Sadat of Egypt, Mr. Ford pledged to do all that he could to assure the success of the latest accord and to continue building momentum toward a permanent peace in the Middle East. The administration immediately began a campaign to persuade senior members of Congress that the agreement could not have been arranged without an early warning system in Sinai as a central element and without a symbolic United States role to demonstrate a commitment to both Egypt and Israel that the warning system would be operated impartially. [New York Times]
- Secretary of State Kissinger, in a long message to the United Nations, responded to demands from developing countries for radically new ways to bridge the chasm between rich and poor nations, and outlined the broadest set of specific proposals on cooperation with developing nations that the United States has made so far. The address was delivered by Daniel Patrick Moynihan, the chief United States representative at the United Nations, who was one of the first speakers at the opening session of the Seventh Special Session of the United Nations General Assembly. [New York Times]
- President Guillermo Rodriguez Lara of Ecuador crushed a revolt by troops led by Gen. Raul Gonzalez Alvear, the armed forces Chief of Staff, who seized the government palace in Quito, but were surrounded and forced to surrender by loyal troops. It was estimated that 12 persons were killed and 80 wounded. General Gonzalez, who was taken prisoner, had announced in a radio communique that he had moved his troops against the President because of alleged mismanagement of the country's rich oil resources. [New York Times]
- Gen. Jose Morais da Silva, head of Portugal's air force, announced his opposition to the designation of the former pro-Communist Premier, Vasco Goncalves, as Chief of Staff of the armed forces. General Silva said that he would not accept a dictatorship by a minority party. [New York Times]
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