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Conversation: 468-015

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Start Date: Tuesday, March 16, 1971 7:23 PM

End Date: Tuesday, March 16, 1971 8:06 PM

Participants:

Nixon, Richard M. (President)Haldeman, H. R. ("Bob")Butterfield, Alexander P.Connally, John B.[Unknown person(s)]

Recording Device: Oval Office

Full Tape Conversation Start Time: 03:20:21

Full Tape Conversation End Time: 04:03:03

468-015.mp3

NARA Description:

On March 16, 1971, President Richard M. Nixon, H. R. ("Bob") Haldeman, Alexander P. Butterfield, John B. Connally, and unknown person(s) met in the Oval Office of the White House at an unknown time between 2:23 pm and 3:06 pm. The Oval Office taping system captured this recording, which is known as Conversation 468-015 of the White House Tapes.

Nixon Library Finding Aid:

Conversation No. 468-15

Date: March 16, 1971
Time: Unknown between 2:23 pm and 3:06 pm
Location: Oval Office

The President met with H. R. (“Bob”) Haldeman

     President’s schedule
          -John B. Connally

     Daniel P. (“Pat”) Moynihan’s report
          -Accuracy
          -Businessmen
          -Peter M. Flanigan
          -Department of Justice [DOJ] antitrust actions
                -Response of businessmen
          -Business community
                -Administration policies
                      -Need for White House response

Alexander P. Butterfield entered at an unknown time after 2:23 pm

     President’s schedule
          -Connally
                                               32

                           NIXON PRESIDENTIAL MATERIALS STAFF

                                      Tape Subject Log
                                         (rev. 9/08)



Butterfield left at an unknown time before 2:25 pm

     Moynihan’s letter
         -Antitrust action report
              -Vice President Spiro T. Agnew
              -John N. Mitchell
         -Relations with Mitchell
              -Black Panthers                                      Conv. No. 468-15 (cont.)
                     -[Forename unknown] Epstein story in The New Yorker
         -Need for White House follow-up
         -Harvard colleagues
              -Response
              -Professors
         -Businessmen
              -Need for White House response
                     -Public opinion
                     -White House staff efforts

The President left and Connally entered at 2:25 pm

     [Unintelligible]

Haldeman left at 2:25 pm

The President entered at an unknown time after 2:25 pm

     Whitney M. Young, Jr. funeral
          -Connally’s possible attendance
          -Cabinet attendees
          -Connally’s acquaintance with Young
          -President’s attendance
                -Purpose
          -Importance
                -Reverend Martin Luther King, Jr.
                -Blacks
                -Edward W. Brooke
                -Adam Clayton Powell, Jr.
                     -President’s recollections

     Connally’s meeting with Arthur F. Burns
                                            33

                         NIXON PRESIDENTIAL MATERIALS STAFF

                                     Tape Subject Log
                                        (rev. 9/08)



     Airlines
           -Connally’s meetings
           -American companies
           -British companies
           -Concern for Lockheed
           -Dan Hoffman’s role

An unknown person entered at an unknown time after 2:25 pm          Conv. No. 468-15 (cont.)

     Refreshment order

The unknown person left at an unknown time before 2:57 pm

     Airlines
           -Connally’s forthcoming meetings
                -Eastern, Delta, Trans-World Airlines [TWA]
                      -Lockheed, Rolls-Royce, General Electric [GE]
                            -Possible effect
           -Order level
                -Lockheed’s financial position
                      -Number of orders
                            -Need for increases
                -Possible Congressional action
                      -Connally’s meeting with Clark MacGregor, David Packard, Mitchell, and
                            Peter G. Peterson
                            -The President’s decision
           -Administration strategy
                -Employment
           -Supersonic Transport [SST]
           -Lockheed
                -Timing
                -Loan from Export-Import Bank
                -Packard’s work at Department of Defense
                -Internal Revenue Service refund
                -Timing
                      -SST
           -SST action in Congress
                -Possible problem
                      -Lockheed collapse
                -Charles H. Percy and William Proxmire
                                               34

                         NIXON PRESIDENTIAL MATERIALS STAFF

                                     Tape Subject Log
                                        (rev. 9/08)



    Isolationism
          -President’s remarks in Cyrus L. (“Cy”) Sulzberger interview
          -Isolationists
                -Policies
                -President’s comments

    Foreign trade
         -Dumping                                                    Conv. No. 468-15 (cont.)
               -Treasury Department action
                    -Connally’s position
         -Japan
               -Textiles
               -Connally’s conversation with Japanese businessmen
               -Canon calculator
                    -Development
                    -Ministry for International Trade and Industry [MITI]
                    -Texas Instruments
                    -MITI actions
         -Philosophy of international relations


******************************************************************************

BEGIN WITHDRAWN ITEM NO. 1
[National Security]
[Duration: 32s ]


    JAPAN


END WITHDRAWN ITEM NO. 1

******************************************************************************


         -Japan
              -President’s view
                    -Connally’s negotiations

    Banks
        -A 1925 law on political contributions
                                        35

                    NIXON PRESIDENTIAL MATERIALS STAFF

                                Tape Subject Log
                                   (rev. 9/08)



          -A DOJ suit in Ohio
          -Frost National Bank of San Antonio loan
                -Preston Smith supporter
          -Banks’ actions
                -Loans
          -Report to DOJ
                -DOJ action
                      -Connally’s discussion with Mitchell   Conv. No. 468-15 (cont.)
          -Connally’s meeting with Will R. Wilson
                -Policy
                -Administration’s position
                      -Connally’s view
                      -President’s view
          -Past practices
          -An unknown Republican in Illinois
          -An unknown Democrat
          -Effect on politicians
                -William J. Casey confirmation
          -Labor unions
          -Borrowers
          -Mitchell
          -Connally’s instructions to Wilson

Agnew
    -March 16, 1971 meeting with Connally
    -Tax matters
         -Research grants to universities
         -Possible polls

Economy
    -Dow-Jones average
    -Industrial production
    -Dow-Jones average as an economic indicator
    -Business leaders
         -Connally’s comments on “Meet the Press”
                -Need for leadership
         -A man in Houston [name unintelligible]
                -Speech to business leaders
                     -Loans
                     -Money supply
                     -Inflation
                     -Increases in interest rates
                                       36

                    NIXON PRESIDENTIAL MATERIALS STAFF

                               Tape Subject Log
                                  (rev. 9/08)



                             -Loans
           -Connally’s comments
           -Compared with labor people
     -Stock market
           -President’s statement
           -Connally’s former stocks
                 -Texas Instruments
                 -Halliburton                                  Conv. No. 468-15 (cont.)
                 -Tyler Corporation
           -Future Dow-Jones average
                 -Connally’s view
                 -General Motors, US Steel, Westinghouse, General Foods
                 -Connally’s friends on Wall Street
     -Need for confidence
           -White House policies
           -President’s view
           -Business community
           -Business Council
     -Interest rates
           -Bankers
           -Possible statement by President or Connally
                 -Reconstruction Finance Corporation
                       -Franklin D. Roosevelt
                             -Jesse H. Jones
                       -Herbert C. Hoover

Burns
     -Action
           -Support for Administration
     -Inflation
     -Interest rates
     -Social Security
           -Congress
     -Investment tax credit
           -A bill by Vance Hartke
           -William McChesney Martin
     -Possible meeting with President and Connally
     -Relations with Connally
     -Connally and Burns’ relations with Congress
     -Relations with business community
           -An unknown man
     -Relations with George P. Shultz and Paul W. McCracken
                                  37

               NIXON PRESIDENTIAL MATERIALS STAFF

                          Tape Subject Log
                             (rev. 9/08)



-Possible action by President
-Previous talk with Connally
      -Hartke’s bill
            -Burns’ position
      -Connally’s subsequent call to Shultz
      -Importance
-Testimony in Congress
-Testimony                                          Conv. No. 468-15 (cont.)
-Meetings with President
      -Quadriad
      -President’s position
-Forthcoming meetings
      -Connally
      -President
-Relations with Shultz, McCracken, and Connally
-Possible meeting with Connally
      -Areas of jurisdiction
      -Federal Reserve Board
      -Wage and price policies
      -Fiscal policy
-Budgetary input
-Monetary and fiscal policy
-Position on interest rates, Social Security
-Testimony in Congress
-Russell B. Long
-Social Security
-Revenue sharing
-Forthcoming meeting with Connally
-Interest rates
-Monetary supply position
      -February figures
-Forthcoming meetings
      -Connally
      -President
-Actions
      -Public comments
            -Administration policies
-Shultz and McCracken
-Forthcoming meetings
      -Connally
      -President
-Previous Quadriad meeting
                                              38

                           NIXON PRESIDENTIAL MATERIALS STAFF

                                       Tape Subject Log
                                          (rev. 9/08)




Butterfield entered at 2:57 pm

     President’s schedule
          -Cabinet meeting
                -Connally’s entrance

Connally left at 2:57 pm                                               Conv. No. 468-15 (cont.)

                -William P. Rogers
                -George W. Romney
                -Shultz (?)
                -Rogers

The President and Butterfield left at an unknown time before 3:06 pm