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Conversation: 039-141

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Start Date: Thursday, June 7, 1973 11:33 PM

End Date: Thursday, June 7, 1973 11:41 PM

Participants:

White House operatorNixon, Richard M. (President)Connally, John B.

Recording Device: White House Telephone

039-141.mp3

NARA Description:

On June 7, 1973, White House operator, President Richard M. Nixon, and John B. Connally talked on the telephone from 7:33 pm to 7:41 pm. The White House Telephone taping system captured this recording, which is known as Conversation 039-141 of the White House Tapes.

Nixon Library Finding Aid:

Conversation No. 39-141

Date: June 7, 1973
Time: 7:33 pm - 7:41 pm
Location: White House Telephone

The White House operator talked with the President.

       Incoming telephone call

The President talked with John B. Connally.

       Connally’s schedule

       National economy

              -Wholesale Price Index

                      -Increase        

              -Need for action

              -Telephone calls to George P. Shultz 

                      -Labor, industry opposition to wage and price freeze
              -Price freeze
                      -Wholesale Price Index
                                -115-

    NIXON PRESIDENTIAL LIBRARY AND MUSEUM

                        Tape Subject Log
                       (rev. February-2011)

                                                  Conversation No. 39-141 (cont’d)

                -Industrial commodities compared with food         

        -Food         

        -Compared with Phase II price controls 

        -60-day freeze         

                -Congressional legislation
                -Phase II price controls        

                        -Exceptions        

                        -Compared to Phase III         

                                -Inflation
                                        -Connally’s prediction
                -President’s support
-Need for action
-Tax surcharge
        -Exemptions
        -Effect
-Consumer credit
-Inflation
        -Effects on production          

                -Chemical industry          

                -Paper mills

                        -Newspaper supply
                                -Rationing
                -West Coast
-Need for comprehensive action
        -Connally’s assessment
-Congressional legislation
        -Labor opposition
                -Wage freeze
-Controls
        -Profits
        -Prices
                -Freeze
                -Increases
                        -Ceiling
                                -Compared to wages
                                        -Impact
-Cost of Living Council [COLC]
        -Connally’s role
                                              -116-


                   NIXON PRESIDENTIAL LIBRARY AND MUSEUM


                                        Tape Subject Log 

                                       (rev. February-2011)

                                                              Conversation No. 39-141 (cont’d)

                             -Meeting with Shultz, Peter J. Brennan
                      -Deliverables
              -Price freeze
                      -Free market competition
              -COLC meetings
                      -President’s forthcoming speech on national economy
              -Need for action
              -Price freeze
                      -Roy L. Ash’s viewpoint        

                      -Shultz’s support       

                      -60-day freeze       


       President’s schedule      

              -Trip to Key Biscayne