Conversation: 546-002
Prev:  546-001 Next: 546-003Start Date: 26-Jul-1971 4:32 PM
End Date: 26-Jul-1971 5:19 PM
Participants:
Nixon, Richard M. (President); Peterson, Peter G.; Recording Device: Oval Office
Full Tape Conversation Start Time: 00:09:01
Full Tape Conversation End Time: 00:56:31
NARA Description:
On July 26, 1971, President Richard M. Nixon and Peter G. Peterson met in the Oval Office of the White House from 4:32 pm to 5:19 pm. The Oval Office taping system captured this recording, which is known as Conversation 546-002 of the White House Tapes.
Nixon Library Finding Aid:
Conversation No. 546-2 Date: July 26, 1971 Time: 4:32 pm - 5:19 pm Location: Oval Office The President met with Peter G. Peterson. The economy -Current international situation -John B. Connally -John D. Ehrlichman -The People’s Republic of China [PRC] initiative -Paul W. McCracken -Currency devaluation -Trade -Balance of payments -Hugh Scott, Richard S. Schweiker -Options -Economic and political considerations -Control of inflation -Changes in world situation -Energy -John Maynard Keynes -Dollar exchange rates -Forthcoming Presidential election, 1972 -Labor unions -Unemployment rate -Quota restrictions -Past and future industries -Michael J. (“Mike”) Mansfield -Legislation relating to foreign relations -Economic projections -Unemployment -Public perceptions of administration stance -Currency devaluation -McCracken -Political ramifications -Other nations -Value Added Tax -European model -Political ramifications 4 NIXON PRESIDENTIAL MATERIALS STAFF Tape Subject Log (rev. 10/08) -Balance of payments -General Agreement on Tariffs and Trade [GATT] -Great Britain, France -US businessmen -Wilbur D. Mills -Statements -Unemployment, economic indicators -Balance of payments -Short term and long term prognosis -Oil -Currency devaluation -Quotas -Relations with other nations -Japan -PRC initiative -Balance of payments, balance of trade -US negotiations -Confidentiality of proposed action -Handling -Connally -McCracken, George P. Shultz -Currency devaluation -Connally -Possible action by other countries -Coordination of effort -Staff -Connally, Paul A. Volcker, McCracken, Shultz -Confidentiality -Threat of leaks -Peterson, Shultz, Connally, McCracken -Arthur F. Burns -Working group -Maintenance of confidentiality -Briefings -Council of Economic Advisors -Legislation -Countering effects of inflation -Labor unions -Edmund S. Muskie -Burns -The President's foreign policy action -The PRC initiative 5 NIXON PRESIDENTIAL MATERIALS STAFF Tape Subject Log (rev. 10/08) -Timing of economic action -Europe -Administration -Congress -Worldwide trends -Korea, Taiwan, Republic of China [ROC], Singapore -Presidential authority -McCracken Conv. No. 546-2 (cont.) -Limitations -Congress -Confidential coordination of effort -Connally, Shultz, McCracken -The President's forthcoming meeting with Connally -Possible meeting -Connally -Effect of currency devaluation -July 27, 1971 meeting with Connally, Peterson -Currency devaluation -Shultz -Free market approach -Japanese, Germans -Float currency -General Agreement on Tariffs and Trade [GATT] provisions -Import surcharge, export rebate -Political effect -Connally ********************************************************************** BEGIN WITHDRAWN ITEM NO. 1 [National Security] [Duration: 11m 53s ] JAPAN END WITHDRAWN ITEM NO. 1 ********************************************************************** 6 NIXON PRESIDENTIAL MATERIALS STAFF Tape Subject Log (rev. 10/08) US-Japan relations -Textile negotiations -The PRC, Taiwan -Appointment of new US Ambassador -David M. Kennedy -Textile negotiations -Connally Conv. No. 546-2 (cont.) -Exports Personnel appointments -Peter M. Flanigan -State Department -William D. Eberle -Post dealing with international trade -Connally -Christian A. Herter, Jr. -Background -European Economic Community [EEC] -Negotiations -Marshall Green, Connally -Kennedy The State Department -US-Japanese relations -Economy -Peterson, Connally -Eberle -Outlook in negotiations -William P. Rogers, John N. (“Jack”) Irwin, II, U. Alexis Johnson, [Unintelligible name] -Irwin -Role -Reorganization -Legislation -J. William Fulbright -Eberle -Possible role Economic action -Confidentiality of meetings prior to action 7 NIXON PRESIDENTIAL MATERIALS STAFF Tape Subject Log (rev. 10/08) -Connally -Currency devaluation -McCracken -Business community, the President's opponents The President’s schedule -Ehrlichman Conv. No. 546-2 (cont.) Peterson left at 5:19 pm.