Conversation No. 574-5

Date: September 17, 1971
Time: 10:26 am - 11:29 am
Location: Oval Office

The President met with Maurice H. Stans, George P. Shultz, and Kenneth R. Cole, Jr.; the White
House photographer was present at the beginning of the meeting.

     Greetings

     The economy
          -New economic policy
               -Handling
                     -Congressmen
                     -Senators
                           -Speeches
          -Minority business enterprise program
               -Letters of support
                     -US businessmen
               -New York Times
                     -Editorials
                           -Support
               -Letters of support
          -Dividend policy
                                      22

                 NIXON PRESIDENTIAL MATERIALS STAFF

                             Tape Subject Log
                               (rev. 10/06)



      -Stans's telegram
            -Replies
                   -Number
      -Support
      -Response
-Banks
      -Reports
      -Position
      -John B. Connally
-Agricultural, labor groups
-Interest rates
      -Control
      -Congress
-Bankers
      -Arthur F. Burns
      -Political issue
            -Phase II
            -Inflation
      -Manufacturing profits tax
      -Banking industry profits
            -Cost of Living Council [COLC]
            -William L. Safire
-Freeze
      -Stans's telegram's solicitation of report
            -Dividend policy telegram
                   -US companies
            -Statistics on estimated effect on profits in third and fourth quarters
                   -Number of responses
      -Percentages
Profits issue
      -Appearance
      -Businessmen
            -Jobs
      -Banks
            -Jobs
            -Bankers
            -Public standpoint
                   -Administration’s position on business
            -Congressional action
            -Interest rates
      -Business
                                          23

                    NIXON PRESIDENTIAL MATERIALS STAFF

                                Tape Subject Log
                                  (rev. 10/06)
                                                                 Conv. No. 574-5 (cont.)


                -Dependence
                     -Effect
                          -Expansion
                          -Reduction of jobs
                          -Reduction of expansion in public sector
                          -Effect on growth

Minority business enterprise program
    -Budget appeal
    -Approaches
          -Political significance
          -Value of program
    -Political significance
          -Black Americans
          -Hispanic Americans
                 -Number
                 -Geographic concentration
                       -California
                       -New York
                       -Illinois
                       -Texas
                       -Arizona
                       -New Mexico
                       -Importance for administration
          -Colorado economic development organization
          -National organization of Hispanic Americans
          -Black Americans
                 -Approach and focus
                       -Civil rights
                 -Black supporters
                 -Administration action
    -Hispanic and black Americans
          -Possible contention
                 -Administration's commitment
          -Amount of money
                 -Commitment
    -Political message

Environment
     -Thomas R. Shepard, Jr.
         -Article read by the President
                                         24

                     NIXON PRESIDENTIAL MATERIALS STAFF

                                 Tape Subject Log
                                   (rev. 10/06)
                                                               Conv. No. 574-5 (cont.)


          -Environmentalists
               -Type of program
     -Dichlorodiphenyltrichloroethane [DDT]
          -The President’s talk with astronauts
          -Sri Lanka [Ceylon]
                -Nobel prize winner [Dr. Norman E. Borlaug?]
                -Malaria
                      -Deaths
                            -1969 compared to 1970
          -Human beings, condors
                -Relative importance
     -Report on phosphates
          -Elliot L. Richardson
          -Detergent soaps
                -Effect on skin
                      -Ingredients
          -Effect on environment
                -Priorities
     -Administration position
          -Budget costs
                -Environment
                -Balance
          -Stans
                -Editorial
     -Shepard's speech

Minority business enterprise program
    -Hispanic Americans
          -Budget benefits
    -Black Americans
    -Congress
    -Black Americans
          -Number
    -Hispanic Americans
          -Number
          -Concentration in states
    -Small business enterprise efforts
          -Comparison of blacks, Hispanics
    -Hispanic and black Americans
    -John G. Tower
          -Spanish-speaking Americans
                                   25

               NIXON PRESIDENTIAL MATERIALS STAFF

                           Tape Subject Log
                             (rev. 10/06)
                                                        Conv. No. 574-5 (cont.)


-Cabinet Committee on Spanish speaking Americans
-Black Americans
     -Value of program
            -Amount of money
-Credibility
     -Robert J. Dole
            -Program for blacks
     -Support for administration
-Amount of money
     - Shultz
            -Caspar W. (“Cap”) Weinberger
     -Stans
     -Advisory committee for blacks
            -The President's appointment
                  -Businessmen
                       -Blacks
                       -Estimated figures
     -Transfer of funds
            -Environmental Protection Agency [EPA]
            -Small Business Administration [SBA]
                  -Technical assistance
            -Office of Economic Opportunity [OEO]
                  -Shultz
-Goals
     -Amount of money
     -Progress
            -Government grants, loans, and guarantees
     -Businesses
            -Amount of money
                  -Changes
                       -Time duration
     -Purchase by government agencies
            -Minority businesses
            -Set-aside money
            -Direct procurement
                  -Competitive basis
                  -Amount of money
     -Private sector
            -Small Business Investment Companies
                  -Number
            -Applications
                                    26

                NIXON PRESIDENTIAL MATERIALS STAFF

                            Tape Subject Log
                              (rev. 10/06)
                                                       Conv. No. 574-5 (cont.)


                 -Potentiality
                      -Equity money
     -SBA
           -Loans
                 -Amount of money
     -Private sector
           -Minority owned franchises
           -Number
                 -Increase
           -Types of small businesses
           -Automobiles
           -McDonald's fast-food restaurants
           -Stores
           -Service stations
     -Procurement seminars
           -US
           -Census
                 -Minority business
                       -Indians
     -SBA
           -Management and technical assistance
                 -Increase
     -Minority owned banks
           -Amount of money
                 -Deposits
                 -Lending
           -Hispanic Americans
-Type of program
-Concepts
-History of previous economic action
     -1964
           -New business ventures
                 -Six thousand dollars for six years
     -Loans
           -Use of money
-Business
     -Individual qualifications
     -Money for establishment of business
     -Technical assistance
           -Management coaching
           -Accounting
                                   27

               NIXON PRESIDENTIAL MATERIALS STAFF

                           Tape Subject Log
                             (rev. 10/06)
                                                         Conv. No. 574-5 (cont.)


           -Legal advice
           -Advertising
           -Stock keeping
           -Purchasing
     -Assistance
           -Certified Public Accountants [CPAs]
           -Lawyers
           -Management engineers
     -Washington, DC area
           -Operating base
                 -National commitment
                 -Reaching local communities
     -Local economic programs
           -Voluntary efforts
                 -Community
                 -Minorities
                       -Starting new businesses
                             -Aid
           -Ineffectiveness
                 -Guidelines
                 -Practices
                 -Selective information
                 -Resources
-Selection of limited number of minority organizations
     -Responsibilities and guidance
     -Transactions
           -Aid
-White community's assistance in a resource center
     -Opportunities
     -Money
     -Technical assistance
     -Packaging aid
     -Providing resources for minority business
-Minority responsibility
-Minority community organizations
     -United States
     -Resources
     -Funds
           -SBA
-Resource center
     -Standard operation
                                       28

                NIXON PRESIDENTIAL MATERIALS STAFF

                            Tape Subject Log
                              (rev. 10/06)
                                                     Conv. No. 574-5 (cont.)


     -Local exposure
-Impact projects
     -Shopping center
     -Local hotel
           -Time duration
           -Impact
                  -Cities
-National level action
     -Trade associations
     -Franchising institute
           -Training
     -Local impact
           -Federal government
     -Possible national basis
           -Money
                  -Amount
-Budget appeal
     -Amount of money
           -Credibility
     -Political implications
           -Time duration
     -Charts
     -Program
           -Stans’s credibility
                  -Monetary
                  -Black community
                        -Chicago
                        -Los Angeles
     -Political significance
           -Effect
     -Problems
           -Weinberger
           -Restraints
                  -Overbudgeting
                  -Balance
           -Spending
                  -Amount
                  -Political gain
     -Model cities
     -OEO
-Budget concerns
                             29

          NIXON PRESIDENTIAL MATERIALS STAFF

                     Tape Subject Log
                       (rev. 10/06)
                                                      Conv. No. 574-5 (cont.)


-Programs
      -Effectiveness
-Previous administrations
      -Problems
-Jobs Corps
-Vista
-Peace Corps
      -Cuts in budget
            -Percentage
            -Negotiations
            -Personnel
                  -Percentage
-Cuts in budgets
      -Extent
-Credibility issue
      -Hispanics
      -Black Americans
            -Percentage
            -Support for the President
            -Dole
      -Hispanic Americans
            -Balance
            -Latin Americans compared to blacks
      -Black Americans
            -Reactions
            -Proportionate budget
            -Head of program
-Budget directors
-Appopriation [One hundred million dollars]
      -Political impact
      -Funding transfer
            -Model cities
            -OEO
      -Development of new program
            -The President's economic program
      -Model cities
            -Economic development efforts
      -OEO
            -Business development efforts
                  -The President's economic program
-Legislation
                                             30

                           NIXON PRESIDENTIAL MATERIALS STAFF

                                     Tape Subject Log
                                       (rev. 10/06)
                                                                   Conv. No. 574-5 (cont.)


                     -Pending
                     -New
                           -Benefits
                           -Crime insurance
                                 -Department of Housing and Urban Development [HUD]
                     -SBA
                           -Performance bonds
                                 -Building contractors
                                 -Painting contractors
                                 -Carpentry contractors
                     -New businesses
               -Purposes of disseminating money
               -One hundred million dollar level
                     -1973
                     -Amount of money
                           -Supplemental
                           -1972
          -The President’s intention
               -Stans’s presentation

     Banks
         -Profits
               -Congress
                   -Interest rates
         -Leak

     Ambassador of Romania

     Presidential gifts
          -Stans's staff
          -Book marker

     Renegotiation Board
         -Unknown person’s view
         -Existence

Stephen B. Bull entered at an unknown time after 10:26 am.

     Schedule
          -Arrangements for following meeting
               -Press
                                                31

                          NIXON PRESIDENTIAL MATERIALS STAFF

                                       Tape Subject Log
                                         (rev. 10/06)
                                                                     Conv. No. 574-5 (cont.)



Bull left at an unknown time before 11:01 am.

     Minority Business Enterprise program
         -Congress

Corneliu Bogdan entered at 11:01 am.

     Economic program
         -Congress

     Romania
         -Population

Shultz, Stans, and Cole left at an unknown time before 11:02 am.

     Pictures
           -Seating arrangement

     Gen. Alexander M. Haig, Jr.
          -Location
          -Henry A. Kissinger

Kissinger entered at 11:02 am.

     Bogdan
         -Home

     Appreciation for meeting

     Message from Romanian President Nicolae Ceausescu
         -President’s view
               -Kissinger
         -Rendering of best wishes for president and Thelma C. (“Pat”) Nixon
         -The President's stance
               -Romanian American relationship
                    -Economic field
         -US international relations

     Photographs
          -Picture of Bogdan with the President and Kissinger
                                               32

                          NIXON PRESIDENTIAL MATERIALS STAFF

                                         Tape Subject Log
                                           (rev. 10/06)
                                                                       Conv. No. 574-5 (cont.)



     Foreign relations
          -The President's action
                -Romanian view
                -Relations with the People's Republic of China [PRC]
          -Strategic Arms Limitation Talks [SALT]
          -Romania
                -International developments
                      -Observation
                            -Detente
                -Agreement with the US
          -The US
                -Position in the world

     Eastern Europe
          -Situation
                -USSR
                      -Actions
          -Romania
                -Detente
                -Delegation
                      -Handling
                -Concerns
          -Questions
          -Handling of security issues
          -Detente
          -Basic principles of detente
                -Interest and effect
          -Responsibilities
                -Other countries
          -Normal relations
          -Population
          -Relations with USSR
          -Relations with the US
                -Situation

Manolo Sanchez entered at an unknown time after 11:02 am.

     Refreshments
          -Tea
          -Coffee
                                             33

                          NIXON PRESIDENTIAL MATERIALS STAFF

                                     Tape Subject Log
                                       (rev. 10/06)
                                                                   Conv. No. 574-5 (cont.)



Sanchez left at an unknown time before 11:21 am.

     Romania
         -Trip to Romania (August 1969)
         -Ceaucescu
         -Kissinger
         -Detenet
               -Fairness
                     -Effect on Romania
         -Romanian priorities
               -Economy
               -Most favored nation [MFN] from US status
                     -Meeting with Wilbur D. Mills
                     -US position
                     -Meeting between the President and Bogdan
               -Developments
               -Foreign relations
                     -US-Romanian relations
                          -Handling
                                -Eastern Europe
                     -PRC
                     -United Nations [UN]
                     -Conference on European Security and Cooperation [CESC]

     US-Romanian relations
         -Greetings to President Ceausescu
         -MFN status
              -Congress
         -Relationship with Romania
              -Position of the US
         -Romania
              -Economic relations
                    -Kissinger, Stans
                    -East-West trade
                          -Pace
                          -US position
         -Romania
              -Relationship with the USSR
                                        34

                    NIXON PRESIDENTIAL MATERIALS STAFF

                                Tape Subject Log
                                  (rev. 10/06)
                                                                Conv. No. 574-5 (cont.)


     -US negotiations with the USSR
          -Effect
     -US negotiations with other countries
          -Impact

European security conference
     -Future
     -North Atlantic Treaty Organization [NATO]
           -Meeting
                 -Date
                 -Mutual and Balanced Force Reductions [MBFR]
     -Attitude of countries involved
     -Romania
           -The President’s previous conversations with Ceaucescu
     -US position
     -Romanian position
     -US position
           -Strategy
           -USSR
     -Relations with Romania
     -Detente
           -US role
                 -Western Europeans
     -US principles
           -Romania
                 -Interests
           -Soviet action
     -US-Romanian relations
           -Meeting
                 -Outcome
                 -Possible Soviet response
     -US-Soviet relations
           -United Nations [UN]
                 -The President's forthcoming conversation with Andrei A. Gromyko
                       -US relations with Romania

Economic relations
    -Vietnam War
    -Events in the world
          -Time duration
    -Romania
                                              35

                          NIXON PRESIDENTIAL MATERIALS STAFF

                                        Tape Subject Log
                                          (rev. 10/06)
                                                                       Conv. No. 574-5 (cont.)


                -US businesses
                     -Contacts

     Vietnam War
          -North Vietnam
                -Relations with Romania
                      -Economic aid
                -Romanian interests
                -Political solution
          -Negotiations
                -US
                -North Vietnam
          -Settlement possibilities
                -Effect on other US foreign relationships
          -Romania's relations with North Vietnam
                -President Ceausescu
                -Discussions with world leaders and the President
                      -Political solutions
          -Political solutions to war
                -(Madame) Nguyen Thi Binh
          -North Vietnam
                -Negotiations
                      -Prisoners of War [POW] issues
                -US stance

     Photograph

     Vietnam
          -US stance
               -Cambodia
               -Laos
               -PRC

Ronald L. Ziegler and members of the press entered at an unknown time after 11:02 am.

     Dinner attended by Kissinger
          -Dracula
                -Transylvanian region
                                             36

                          NIXON PRESIDENTIAL MATERIALS STAFF

                                      Tape Subject Log
                                        (rev. 10/06)
                                                                       Conv. No. 574-5 (cont.)


     Romania
         -People
              -The President's 1969 trip
              -US stance

Ziegler and members of the press left at an unknown time before 11:29 am.

     Tennis
          -Forthcoming Davis Cup play
               -Romanian hopes for victory
                    -Reaction to game of tennis

Kissinger and Corneliu Bogdan left at 11:29 am.