Conversation: 479-004
Prev:  479-003 Next: 479-005Start Date: 14-Apr-1971 12:21 PM
End Date: 14-Apr-1971 12:40 PM
Participants:
Nixon, Richard M. (President); Ehrlichman, John D.; Burns, Arthur F.; Butterfield, Alexander P.; Recording Device: Oval Office
Full Tape Conversation Start Time: 02:51:10
Full Tape Conversation End Time: 03:18:37
NARA Description:
On April 14, 1971, President Richard M. Nixon, John D. Ehrlichman, Arthur F. Burns, and Alexander P. Butterfield met in the Oval Office of the White House from 12:21 pm to 12:40 pm. The Oval Office taping system captured this recording, which is known as Conversation 479-004 of the White House Tapes.
Nixon Library Finding Aid:
Conversation No. 479-4 Date: April 14, 1971 Time: 12:21 pm - 12:40 pm Location: Oval Office John D. Ehrlichman met with Arthur F. Burns Conv. No. 479-3 (cont.) President’s location Edward M. (“Ted”) Kennedy -Unknown story Alexander P. Butterfield entered at 12:22 pm ****************************************************************************** BEGIN WITHDRAWN ITEM NO. 2 [Personal Returnable] [Duration: 1m 3s ] END WITHDRAWN ITEM NO. 2 ****************************************************************************** The President entered at an unknown time after 12:22 pm Economic policy -Ehrlichman -President’s forthcoming conversation with Burns -Paul W. McCracken -George P. Shultz -John B. Connally -Troika -Quadriad -Burns’ position -Future meetings Butterfield left at 12:26 pm 34 NIXON PRESIDENTIAL MATERIALS STAFF Tape Subject Log (rev. 9/08) Burns’ schedule -Appointment -Duration Germany -President’s meeting with Dr. Rainer Barzel -Berlin negotiations -Kurt Georg Kiesinger Conv. No. 479-4 (cont.) -Opposition party -Willy Brandt -German treaty -Union of Soviet Socialist Republics [USSR] -Possible Berlin agreement -Opposition party -Brandt -US position -Federal Republic of Germany [FRG]/Soviet agreement regarding Berlin -Possible consequences -Nationalism -Schizophrenia -Henry A. Kissinger’s view -Leftists -Franz Josef Strauss -US policy Connally -Burns’ view -Burns’ forthcoming meeting with central bankers -Asset to the President -Manner -Warmth, affection -Confidence Cabinet -Loyalty -William P. Rogers -Melvin R. Laird -John A. Volpe -President’s conversation with Burns -Treasury -David M. Kennedy 35 NIXON PRESIDENTIAL MATERIALS STAFF Tape Subject Log (rev. 9/08) -Economic team -Burns -Connally -Connally’s speech to Southern California businessmen -San Clemente -Republican reaction -Unknown man’s reaction -George W. Romney Conv. No. 479-4 (cont.) -Political ambitions -1968 election campaign -Connally Balance of payments -President’s conversation with Connally -Dollar outflow from Germany -Stabilization -Connally’s forthcoming report to President -[Balance of payments] -Paul A. Volcker -Consultation between Burns and Volcker -Contingency plan -Understanding between Connally and Burns -Connally’s views -Burns’ possible statement to central bankers -No benign neglect of balance-of-payments problems -Administration’s policy regarding inflation -Firmness -Budget increases -Use of veto -Discussions with labor -Congress -Needed legislation -President’s interest in and awareness of problem -Recommendations -Burns’ conversation with Connally Monetary policy -Treasury Department activities -Interest rates -Connally -Higher rates to bankers -Flow of dollars to European central banks 36 NIXON PRESIDENTIAL MATERIALS STAFF Tape Subject Log (rev. 9/08) -Contingency funds -Tightened monetary policy -Outflow of dollars -Interest rates -Treasury activities -Balance of payments -Money supply -Growth Conv. No. 479-4 (cont.) -Rate of growth Economic indicators -Retail sales -Interest rates Interest rates -Administration’s objectives -Short-term use -Bond yields, mortgages -Money supply -Rise Economy -Steel situation -Wage and price freeze -Composition of board -Public members -Economics/politics -Cabinet Committee on Economic Policy -Authority -Price index -Wage and price review board -Risk -Cabinet Committee on Economic Policy -President’s possible directive -Inflation -Authority -Connally -Maurice H. Stans -Labor -Commerce -Labor -Treasury 37 NIXON PRESIDENTIAL MATERIALS STAFF Tape Subject Log (rev. 9/08) -Department of Housing and Urban Development [HUD] -Transportation -Wage and price board -Cabinet Committee on Economic Policy -Lumber -Oil -Construction -McCracken Conv. No. 479-4 (cont.) -Steel -President’s experience in 1959 -I[lorwith] W[ilbur] Abel -Unknown General Motors [GM] labor leader -Inflation -Danger of inaction -Appeal to American people -Possible administration response -Cabinet -Congress -Steel -Foreign competition -Unions -Older workers -Wage and price review board -Composition -Cabinet committee Burns’ trip to Europe Ehrlichman and Burns left at 12:40 pm