DailyTimeCapsule brief
November 18, 1965
On November 18, 1965, U.S. Secretary of Defense Robert McNamara announced the decision to sell 200,000 tons of copper from the national stockpile to alleviate a growing shortage that had recently driven prices up. The move was intended to stabilize the market amid an economic backdrop marked by rising commodity prices and inflation concerns. Globally, the Cold War tensions continued to escalate, particularly with reports indicating that Pakistani President Ayub Khan was set to meet with Indian Prime Minister Lal Bahadur Shastri, a discussion that could impact regional stability in South Asia. Domestically, the political scene was marked by various reactions to federal policies, including the implications of the planned return of a U.S. government grant by a Baptist college, reflecting ongoing debates about government involvement in education and personal liberties.
Key developments
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In response to a severe copper shortage and rising prices, Secretary of Defense Robert McNamara announced the government's decision to sell at least 200,000 tons of copper from the national stockpile. This action was taken with the advice of Attorney General Nicholas Katzenbach, who interpreted existing laws to allow the sale to alleviate market pressures. At the time, the country had a 35,000-ton excess of copper, presenting an opportunity for the government to stabilize the market and support industries reliant on this essential metal.
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Baptist College Plans To Return U.S. Grant
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Soviet Says Ayub Would See Shastri
