In addition, overseas the American dollar’s value has taken a bad beating in recent years. Its worth has decreased strikingly in relation to the money of other nations.

Especially from the spring of 1971 to the spring of 1973​—in just two years—​did its value plunge. For instance, an item that cost $100 in American money overseas in the spring of 1971 cost the following in the spring of 1973 in these sample countries:

Switzerland $164

West Germany $158

Austria $154

Japan $154

France $149

Spain $145

The Wall Street Journal listed the following examples, comparing the percentage increase in inflation for all of 1972 with the three-month period from February to April of 1973:

Inflation Rate Inflation Rate

Country for all 1972 Feb. to April 1973

———————— ————————————— ——————————————————

Ireland 8.7 18.2

Japan 4.5 16.4

Italy 5.7 12.7

Greece 4.4 11.0

Switzerland 6.7 10.9

Finland 7.4 10.7

Spain 8.3 10.0