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Conversation 019-178

TapeTape 19StartSunday, January 30, 1972 at 5:26 PMEndSunday, January 30, 1972 at 5:29 PMParticipantsNixon, Richard M. (President);  Shultz, George P.Recording deviceWhite House Telephone
AI Summary

President Nixon calls George Shultz to commend his performance on 'Face the Nation,' particularly his confrontation with journalist Daniel Schorr. The two discuss positive economic trends, specifically a drop in insured unemployment, while expressing skepticism regarding the reliability of volatile monthly economic statistics. Nixon also mentions his plan to send a firm note to Federal Reserve Chairman Arthur Burns concerning the money supply and praises the recent appointment of Marina von N. Whitman to the Council of Economic Advisers.

Face the NationGeorge ShultzEconomic indicatorsArthur BurnsUnemploymentMarina von N. WhitmanCouncil of Economic Advisers
AudioNARA Description

On January 30, 1972, President Richard M. Nixon and George P. Shultz talked on the telephone from 5:26 pm to 5:29 pm. The White House Telephone taping system captured this recording, which is known as Conversation 019-178 of the White House Tapes.

Nixon Library Finding Aid
Conversation No. 19-178

Date: January 30, 1972
Time: 5:26 pm - 5:29 pm
Location: White House Telephone

The President talked with George P. Shultz.

     Shultz's “Face the Nation” television appearance
          -The President's previous conversation with Charles W. Colson
                -Daniel L. Schorr
          -Shultz's reaction

     National economy
          -Economic indicators
                -Insured unemployment
                -Retail sales figures
          -Money supply
                -The President's forthcoming note to Arthur F. Burns
                -Burns's role
          -Statistics
                -Administration's reaction

                    -Unemployment
          -Marina von N. Whitman
               -Appointment
                    -Press coverage
                         -Washington Post
Transcript (AI-Generated)

This transcript was generated automatically by AI and has not been reviewed for accuracy. Do not cite this transcript as authoritative. Consult the Finding Aid above for verified information.

Oh, George, I didn't get a chance to see it, but Chuck Colson just called me and said you just did a hell of a job on that program.
So I thought you should know that he thought particularly you cut up old Daniel Shore very well, which was good.
Oh, sure, sure.
Well, you should feel good about it.
Did you enjoy the show or not?
That's right.
You're used to bargaining.
Right.
But we really have, you know.
You know, the significant thing about the leading indicators to me was the
figure of that drop in insured unemployment.
I don't know whether that means anything, but the drop of 40,000 is the lowest level apparently since June of 70, so I don't know.
That's bound to reflect itself eventually in the other figures, is it not?
Well, look, I'm
I'm doing some things in the Mike's environment that I trust will help, but I've got another little note to Arthur.
He doesn't know anybody that anybody else knows about it, but it's very strong.
It's only for whatever good that does.
I'm not sure Arthur, though, I think he may not be able to control it as much.
I don't know.
What do you think?
Well, I thought that on that meeting, it wasn't fair.
Yeah.
Admitted that...
They're the best at fishing.
Well, that just kept going on until the old theory that there's still a lot of steam in the boiler, you know, and it's bound to show up.
And also, as we know,
We live and die too much by monthly figures.
I'm convinced of that.
Don't you think so?
Yes, sir.
I thought that...
Marina Whitman got a good flight on first in the post.
She's intelligent.
She's articulate.
She's pretty.
All that, you know, she'll be a good... We now have three people on the council.
All of them can, you know, speak out.
Good.
Well, okay.
Get a little rest.
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