that would be a perfect match with a 430 or 4300SS.
While that rod is a good inshore size - 3/8 oz is a typical swimbait jighead - (and a perfect freshwater bass rod), you'll probably enjoy fishing it most with 6# or 8# line (0.25mm dia), making the reel I just recommended the perfect capacity match.
And probably making the rod most versatile for you.
1975 is going to show you green Spinfishers, and the 714 would be the equivalent capacity of 430/4300SS.
The 716 is equivalent in size to 4200SS, and 712 is equivalent to 4400SS.
Unlike most mfgs, Penn worked their way down from big surf and bluewater reels first.
Likewise, I wouldn't put a 712 on that rod, but a 716 would be a hoot - it's a very good 6# reel, and a joy to handle partly because of its lighter weight. It really doesn't feel like Ultralight, but was a light spinning reel for 1975.
I think you'd enjoy the lighter weight of the 430SSG/4300SS over the 714.
If you needed 120+ yds 12# line (0.35mm dia) or greater, the larger reels, 712, 4400SS would be the match.
But for most fishing, 60-80 yds mono is all you really need.
The green Penns demand collector prices for VG condition reels.
There were also the next series of black reels, 716Z and 714Z which sell a little closer to earth.