Correct inflation pressure for old road bike
I can't see your specific rims from here, but plenty of bikes back in the 70s and 80s had rims that width capable of handling 90-110 PSI.  

And I definitely wouldn't run a 1-1/8" tire at 65 PSI.  I'd imagine that the rims, if designed for tires that narrow, should be able to handle 80 PSI or so.