Conversation: 272-009
Prev: 272-008 Next: 272-010Start Date: Monday, August 9, 1971 6:15 PM
End Date: Monday, August 9, 1971 6:55 PM
Participants:
Nixon, Richard M. (President); Bull, Stephen B.; Connally, John B.; Sanchez, Manolo; Haldeman, H. R. ("Bob")Recording Device: Old Executive Office Building
Full Tape Conversation Start Time: 00:32:45
Full Tape Conversation End Time: 01:18:17
NARA Description:
On August 9, 1971, President Richard M. Nixon, Stephen B. Bull, John B. Connally, Manolo Sanchez, and H. R. ("Bob") Haldeman met in the President's office in the Old Executive Office Building from 2:15 pm to 2:55 pm. The Old Executive Office Building taping system captured this recording, which is known as Conversation 272-009 of the White House Tapes.
Nixon Library Finding Aid:
Conversation No. 272-9
Date: August 9, 1971
Time: 2:15 pm - 2:55 pm
Location: Executive Office Building
The President met with Stephen B. Bull.
President's schedule
-John B. Connally
Bull left at an unknown time before 2:30 pm.
Connally entered at 2:15 pm.
Henry S. Reuss
-Report
6
NIXON PRESIDENTIAL MATERIALS STAFF
Tape Subject Log
(rev. 10/06)
Conv. No. 272-9 (cont.)
-Treasury Department’s response
-Loan negotiation
International monetary situation
-Currency exchanges
-Figures
-Switzerland
-Great Britain
-France
-Belgium
-Japan
-Italy
-Lira
-Ceiling against dollar
-Vatican
-Gold
-Forthcoming administration actions
-Possible leak
-George P. Shultz, Peter G. Peterson, Paul A. Volcker, Paul W.
McCracken, John N. Mitchell
-Newspaper story
-Timing
-Risks
-Assets
-Switzerland
-Gold
-Erosion
-International and national mood
-Volcker
-Possible change
-Consequence
-Possible closing of gold window
-International Monetary Fund [IMF]
-Relationship to President’s program
-President’s possible actions
-Consequences
-International markets
-Possible leak
-Paul Scott
-Drew Pearson
-Connally, Shultz, and the President
7
NIXON PRESIDENTIAL MATERIALS STAFF
Tape Subject Log
(rev. 10/06)
Conv. No. 272-9 (cont.)
-Peterson
-H. R. (“Bob”) Haldeman
-Conversation with Connally, August 9, 1971
-Connally’s conversation with Wilbur D. Mills
-Devaluation
-Japan
-Trade
-Steel and textiles
-Staff inquiries
-Consequences
-Peterson
-Handling
-President's possible program
-Research
-Import tax, excise tax, investment tax credit
-Wage and price freeze
Federal budget
-Shultz
-Possible vetoes
-Department of Health, Education, and Welfare [HEW]
The President talked with Manolo Sanchez [?] at an unknown time between 2:15 pm and 2:30
pm.
Request for Sanchez [?]
[End of telephone conversation]
Sanchez entered at an unknown time after 2:15 pm.
Refreshments
Sanchez left at an unknown time before 2:30 pm.
President’s schedule
-Meeting with Raymond K. Price, Jr. [?] and [Forename unknown] Eisenhower [?]
[Unintelligible]
Vietnam
8
NIXON PRESIDENTIAL MATERIALS STAFF
Tape Subject Log
(rev. 10/06)
Conv. No. 272-9 (cont.)
-Press conference, August 4, 1971
-Negotiations
-Channels
-State Department
-Defense Department
People's Republic of China [PRC]
Leaks
-New York Times
Haldeman entered at 2:30 pm.
-Paul Scott's article
-Previous stories
-Instructions for Haldeman
-Peterson
-Export rebate
-Meeting with Shultz, Volcker, and McCracken
-Gold window closing
-Knowledge of President’s program
-Administration response
-Treasury Department
-Council of Economic Advisors [CEA]
-Volcker's meeting with Connally
-McCracken
-Peterson
-Mills
-McCracken
-Peterson
-CEA
-Shultz
-Crisis with German Deutsche Mark [May 1971]
-Arthur F. Burns
-Charlie Kunz [sp?]
-Dollar contingency plan
-Scott's stories
-Henry A. Kissinger
-Scott
-Peterson
9
NIXON PRESIDENTIAL MATERIALS STAFF
Tape Subject Log
(rev. 10/06)
Conv. No. 272-9 (cont.)
-Conversation with Haldeman
-Press relations
-Joint Subcommittee request
-Peterson
-President's program
-Haldeman's role
-Peterson's role
-Import tax, investment tax credit, wage and price freeze
-McCracken's conversation with the President
-Dollar flotation
-Burns
-Connally's conversation with the President
-Currency transactions
-Swiss
-Figure
-Possible panic
-Vietnam, PRC
-Peterson
-McCracken
-Haldeman's forthcoming calls
-McCracken, Peterson
-Scott's story
-Peterson’s knowledge
-Connally's conversation with Peterson
-Previous story
-Foreign affairs
-CEA
-National Security Council [NSC]
-Economies
Haldeman left at 2:45pm.
Anti-trust laws
-Possible amendments
-Strategic materials
-Bauxite, tin, platinum, chrome
-Possible energy crisis
-Europe
-Middle Eastern oil
-Possible encouragement of expropriation of US companies
-Constraints on competition
10
NIXON PRESIDENTIAL MATERIALS STAFF
Tape Subject Log
(rev. 10/06)
Conv. No. 272-9 (cont.)
-Foreign government action
-Connally's meeting, August 8, 1971
-Texas Eastern
-John K. Jamieson of Standard Oil
-John D. Harper, Chairman of Alcoa Corporation
-George B.D. Peterson of Alcoa
-Ed Speer of US Steel
-Baxter Goodrich of Texas Eastern
-Japanese and Italian Steel companies
-Speer’s concern
-French aluminum industry
-Harper’s concern
-General Agreement on Tariffs and Trade [GATT]
-Editorials concerning free trade
-Liberals
-New York Times
- Nixon Round
-"Kennedy round"
-French aluminum company
Economy
-International monetary crisis
-President's program
-Status
-Timing of announcement
Anti-trust laws
-Possible changes
-Mitchell
-Roy Ingrams, assistant General Counsel at Treasury Department
-Volcker's conversation with Burns
-Burns’ view
-Possible conversation Europeans
-Volcker’s view
-Europeans' possible actions
-French
-Gold
-Germans
-British
-French
-Volcker’s conversation with Connally
11
NIXON PRESIDENTIAL MATERIALS STAFF
Tape Subject Log
(rev. 10/06)
Conv. No. 272-9 (cont.)
-France
-Japan
-Possible conversation with Europeans and Japan
-Burns
-Wage and price freeze
-Connally's schedule
Connally left at 2:55 pm.