Conversation 788-005

On September 29, 1972, President Richard M. Nixon, Arthur F. Burns, and Stephen B. Bull met in the Oval Office of the White House at an unknown time between 10:56 am and 11:07 am. The Oval Office taping system captured this recording, which is known as Conversation 788-005 of the White House Tapes.

Conversation No. 788-5

Date: September 29, 1972
Time: Unknown between 10:56 am and 11:07 am
Location: Oval Office

The President met with Arthur F. Burns.
                                 12
         NIXON PRESIDENTIAL MATERIALS STAFF

                         Tape Subject Log
                           (rev. Nov-03)

The President's schedule
    -Previous meeting with Maurice Schumann

International Monetary Fund [IMF] meeting
     -Burns’s view
     -Prices in US
          -Foreign reaction to trends in US
               -Control
               -Production
                   -Last year’s statistics

Burns’s schedule
    -Stephen B. Bull
    -Timing
         -1972 Presidential elections
              -Burns’s role
    -Japan
    -India
    -Indonesia
    -India
         -The President’s view
         -Pakistan
         -Bangladesh
    -Indonesia
         -The President’s view
    -Burns’s previous trips
         -Singapore
         -Malaysia
         -South Korea
         -Taiwan
         -Hong Kong
         -South Korea
    -Possible itinerary
         -Japan
         -Indonesia
         -Iran
              -Mohammad Reza Pahlavi [Shah of Iran]
                       -The President’s view
                       -Israel
                         -Hussein ibn Talel [Hussein, King of Jordan]

The US economy
                                             13
                      NIXON PRESIDENTIAL MATERIALS STAFF

                                      Tape Subject Log
                                        (rev. Nov-03)

                 -Federal Reserve system
                 -Discount rates
                      -Bank directors
                      -Control of rates
                           -Timing
                      -Stock market
                           -Effect
                           -New York
                           -New Jersey
                           -Connecticut
                           -Joseph P. Kennedy's purchase of stocks in 1960
                                -Timing
                      -New York Stock Exchange
                           -[James J. Needham], Bernard J. (“Bunny”) Lasker
                 -Money supply and interest rates
                      -Control of prices
                           -The President’s view
                                -Increases
                 -The president’s view
                 -Italians
                 -British
                      -Current situation
                      -The President’s forthcoming meeting with Sir
                       Alexander F. Douglas-Home
                      -Burns’s view
                           -Fiscal discipline
                           -Government control
                 -American labor unions
                      -British labor unions
                      -George Meany
                 -British
                      -Attitude
                           -George P. Shultz

Bull entered at an unknown time after 10:54 am.

             The President’s schedule
                 -Forthcoming meeting with Home
                 -Forthcoming dinner for Home
                     -Unknown person’s schedule
                     -Burns’s schedule
                                                14
                        NIXON PRESIDENTIAL MATERIALS STAFF

                                      Tape Subject Log
                                        (rev. Nov-03)

Bull left at an unknown time before 11:07 am.

The President and Burns left at 11:07 am.