Conversation: 492-004
Prev: 492-003 Next: 492-005Start Date: Wednesday, May 5, 1971 8:41 PM
End Date: Wednesday, May 5, 1971 9:37 PM
Participants:
Nixon, Richard M. (President); [Unknown person(s)]; Ziegler, Ronald L.; Connally, John B.; Shultz, George P.Recording Device: Oval Office
Full Tape Conversation Start Time: 01:39:19
Full Tape Conversation End Time: 02:28:23
NARA Description:
On May 5, 1971, President Richard M. Nixon, unknown person(s), Ronald L. Ziegler, John B. Connally, and George P. Shultz met in the Oval Office of the White House at an unknown time between 4:41 pm and 5:37 pm. The Oval Office taping system captured this recording, which is known as Conversation 492-004 of the White House Tapes.
Nixon Library Finding Aid:
Conversation No. 492-4
Date: May 5, 1971
Time: Unknown after 4:41 pm until 5:37 pm
Location: Oval Office
The President met with an unknown man
Conv. No. 492-3 (cont.)
President’s schedule
-An unknown man
[Unintelligible]
Ronald L. Ziegler entered at 4:41 pm
Steel prices
-John B. Connally’s position
The unknown man left at an unknown time before 4:43 pm
Ziegler’s briefing
-Kent State shootings
[A transcript of the following portion of this conversation was prepared under court order from
December 1978 through March 1979 for Special Access [SA] 8, Ronald V. Dellums, et al., v.
James M. Powell, et al., No. 71-2271. The National Archives and Records Administration
produced this transcript. The National Archives does not guarantee its accuracy.]
[End of transcript]
Connally entered at 4:43 pm
Steel prices
-Connally’s position
-President’s previous remarks in San Clemente
-Ziegler’s forthcoming comments
Ziegler left at 4:43 pm
President’s schedule
-Arthur F. Burns
18
NIXON PRESIDENTIAL MATERIALS STAFF
Tape Subject Log
(rev. 9/08)
Burns
International monetary situation
-Position of the dollar
-Treasury Department, Federal Reserve
-German, Dutch, and Swiss Banks
-German Banks’ action
-Karl Klasen Conv. No. 492-4 (cont.)
-Effect
-Austria, Dutch, and Belgian Banks
-Forthcoming German actions
-Paul [W. McCracken?] [A. Volcker?] conversation
-Burns/Klasen conversation
-A meeting in Brussels
-European Common Market
-Trading range
-Business borrowing
-Karl Schiller
-Possible US position
-Stock market level
-Burns’ statements
-President’s position
-Interest rates
-Connally meeting, May 4, 1971
-Representatives from Denmark, Norway, Great Britain, Switzerland,
European Common Market Countries
-US economy
-Administration goals
-European statements
-Germany
-US actions
-Treasury Department pillars
-US policy
-European actions
-Paul A. Volcker, Paul W. McCracken, Burns, Peter G. Peterson, Peter M.
Flanigan
-Connally’s role
An unknown person entered at an unknown time after 4:43 pm
Refreshments
19
NIXON PRESIDENTIAL MATERIALS STAFF
Tape Subject Log
(rev. 9/08)
The unknown person left at an unknown time before 5:04 pm
******************************************************************************
BEGIN WITHDRAWN ITEM NO. 1
[National Security]
[Duration: 8m 2s ] Conv. No. 492-4 (cont.)
INTERNATIONAL MONETARY SITUATION
END WITHDRAWN ITEM NO. 1
******************************************************************************
Lockheed
-Connally’s May 6, 1971 announcement
-President’s position
-Connally’s forthcoming meetings
-Wright Patman
-Capitol Hill
-Bill sponsors
-Connally’s announcement
-California
-Importance
-Ziegler’s forthcoming call to Los Angeles Times
-Connally’s announcement
-Location
-Coverage
Supersonic Transport [SST]
-Upcoming appropriations vote
-President’s previous meeting with Gerald R. Ford and Leslie C. Arends
Republican Party
-Congress
-Leadership
-Ford, Arends, and John N. Mitchell
-Carl B. Albert
20
NIXON PRESIDENTIAL MATERIALS STAFF
Tape Subject Log
(rev. 9/08)
-William M. Colmer
-Health
-Possible coalition with Democrats
-Ford
-Omar Burleson, William J. Keating, Colmer, Joe D. Waggonner, Jr.
SST
-Lockheed Conv. No. 492-4 (cont.)
-Upcoming appropriations vote
-Termination costs
-Ford, Edward P. Boland
-Possible vote changes
-Importance
-Employment
-Future in Senate
-President’s instructions
An unknown person entered at an unknown time after 4:43 pm
President’s schedule
-George P. Shultz
The unknown person left at an unknown time before 5:04 pm
SST
-Forthcoming vote
-House
-Ford
-Senate
-John V. Tunney
-David H. Gambrell
Shultz entered at 5:04 pm
International monetary situation
-A meeting
-Position of the dollar
-Other currencies
-US economic goals
-Connally and Treasury Department
-President’s role
-Compared with domestic programs
21
NIXON PRESIDENTIAL MATERIALS STAFF
Tape Subject Log
(rev. 9/08)
-Gold
-A meeting
-Burns’ role
-James Dewey Daane
-Governors of Federal Reserve Board
-Possible outcome
-Schiller, Connally
-Possible US action Conv. No. 492-4 (cont.)
-Domestic economy compared to other countries’
-Shultz’s meetings
-Importance
******************************************************************************
BEGIN WITHDRAWN ITEM NO. 3
[National Security]
[Duration: 6m 54s ]
INTERNATIONAL MONETARY SITUATION
END WITHDRAWN ITEM NO. 3
******************************************************************************
Lockheed
-Congressional action
-A May 6, 1971 announcement
-Discussion between President and Connally
President’s schedule, May 8, 1971
Shultz left at 5:18 pm
SST
-Upcoming appropriations bill
-Importance
-Possible vote changes in House
-President’s position
22
NIXON PRESIDENTIAL MATERIALS STAFF
Tape Subject Log
(rev. 9/08)
-Importance
-Lockheed
-Jobs
-Southern California, Los Angeles
-Seattle
-Senate vote
-Possible changes
-Tunney Conv. No. 492-4 (cont.)
-Alan Cranston
-Job issue
-Los Angeles Times
Republican Party
-Congress
-Possible coalition with Democrats
-Ford
-Arends
-Southern Democrats
-Northern and Western Republicans
-Southerners
-”Southern strategy”
-James O. Eastland
-Colmer
-[Name unintelligible]
-George H. Mahon
-Possible talk with Connally
-Possible talks with President
-National security issues and economic issues
-Conservatives/liberals
-Importance
******************************************************************************
BEGIN WITHDRAWN ITEM NO. 4
[Personal Returnable]
[Duration: 9s ]
END WITHDRAWN ITEM NO. 4
******************************************************************************
23
NIXON PRESIDENTIAL MATERIALS STAFF
Tape Subject Log
(rev. 9/08)
Southerners
-Civil War
-Purple Heart awards
West and Mountains states
-People
New Yorkers Conv. No. 492-4 (cont.)
-Effect of New York Times, television
East
-Massachusetts
Universities
-East
-University of California at Berkeley
-Massachusetts
-University of California at Berkeley
-Student protests
-Mark Rudd
-Beginnings
-Free Speech movement
-Vietnam
-Protesters
Republican Party
-Congress
-Possible coalition with Democrats
-Mahon
-Possible conversation with Connally
-Possible conversation with President
-Golf
-Burleson
-John Young of Texas
-Ford and Arends
-Conversation with Connally
-Conversations with Connally
-James R. Wright of Texas
24
NIXON PRESIDENTIAL MATERIALS STAFF
Tape Subject Log
(rev. 9/08)
Connally’s schedule
-An inter-American banking conference in Lima, Peru
-Volcker
-Charls E. Walker
SST
-Upcoming appropriations vote
-Importance Conv. No. 492-4 (cont.)
-Senate
-William Proxmire
-Position on Lockheed
Connally’s schedule
-Golf
-President’s and Connally’s play
-Burning Tree Country Club
-Mahon
-President’s score
Connally left at 5:37 pm