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Thursday January 15, 1981
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This Day In 1970's History: Thursday January 15, 1981
  • The way for release of the hostages may have been cleared by Iran's latest formal response to the Carter administration's efforts to resolve the 14-month crisis before leaving office Tuesday. Publicly, the administration was unwilling to predict a breakthrough, but one official said the message indicated that a speedy settlement was possible. [New York Times]

  • A major potential hostage problem remained unresolved despite intense negotiations between American banks and Iran's central bank over frozen Iranian funds. It was unclear whether failure to resolve the dispute would hold up the hostages' release. [New York Times]

  • A demand for Iran's frozen assets was pressed by the chief Iranian negotiator in the talks over the release of the 52 Americans. Hours after Ayatollah Khomeini apparently approved the latest efforts to resolve the crisis, the negotiator hinted that unless Washington deposited the unencumbered assets in Algerian banks by the close of business tomorrow Iran might break off the talks. He also said that the money must be in the Algerian banks before the hostages are freed. [New York Times]

  • Large increases in military spending and reductions in many non-defense programs were proposed in President Carter's last budget request to Congress. Mr. Carter offered no new proposals in submitting a budget that projects spending of $739.3 billion and a deficit of $27.5 billion for the fiscal year that starts next Oct. 1. [New York Times]

  • The military budget proposed by President Carter for the fiscal year 1982 was designed to provide what Defense Secretary Harold Brown called a "steady and sustained" expansion in defense spending averaging 5 percent a year over the next five years. [New York Times]
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