Conversation: 634-016
Prev:  634-015 Next: 634-017Start Date: 9-Dec-1971 4:59 PM
End Date: 9-Dec-1971 5:54 PM
Participants:
Nixon, Richard M. (President); Connally, John B.; Recording Device: Oval Office
Full Tape Conversation Start Time: 02:10:41
Full Tape Conversation End Time: 03:05:26
NARA Description:
On December 9, 1971, President Richard M. Nixon and John B. Connally met in the Oval Office of the White House from 4:59 pm to 5:54 pm. The Oval Office taping system captured this recording, which is known as Conversation 634-016 of the White House Tapes.
Nixon Library Finding Aid:
Conversation No. 634-16 Date: December 9, 1971 Time: 4:59 pm - 5:54 pm Location: Oval Office The President met with John B. Connally. Connally’s schedule 19 NIXON PRESIDENTIAL MATERIALS STAFF Tape Subject Log (rev. 10/06) Conv. No. 634-16 (cont.) Tax bill -Call to Wilbur D. Mills -The President’s foreign policy" -“Check-off” deal -Anticipated reaction from Congress -Treasury Department -John [W. Byrnes?] -Comments -Strength -Mills and Byrnes -Praise -Call to Mills -Senate -President’s request -Connally -Mills’s skill -Revenue sharing International monetary situation -George P. Shultz -Previous conversation with Connally -Surcharge in terms of trade -Arthur F. Burns -Conversations with New York bankers -The President's talk with Henry A. Kissinger -Burns -Convertibility -Condition for deal -Shultz -Possible deals -Connally -US position -Gold issue -Georges J.R. Pompidou -British -Pompidou -Usefulness to US -French -Progress -Paul A. Volcker and Connally -Position paper 20 NIXON PRESIDENTIAL MATERIALS STAFF Tape Subject Log (rev. 10/06) Conv. No. 634-16 (cont.) -Burns’s position -Fixed rates -International Monetary Fund [IMF] -Convertibility -Limited compared to full -Timing -Shultz -Gold -Edward R.G. Heath -Connally -Previous conversation with Shultz -Press -Connally's meeting with the Ministers -Convertibility -Shultz -Henry S. Reuss-Jacob K. Javits Bill -Congress -Shultz’s concern -Connally’s previous conversation with Shultz -Gold -Connally’s view -Edward M. Kennedy -Edmund S. Muskie -Hubert H. Humphrey -Mills -Convertibility -Connally’s conversations -Former Secretaries of the Treasury -Democrats -Europeans -Pompidou -Realignment -Meeting in Rome -Price of gold -Special Drawing Rights [SDRs] -British pound -French franc -Different standards -IMF -Future plans -Surcharge 21 NIXON PRESIDENTIAL MATERIALS STAFF Tape Subject Log (rev. 10/06) Conv. No. 634-16 (cont.) -Gold -Limited convertibility -Opinions of financial experts -Shultz -IMF -Protecting the dollar against convertibility -Deficit -US money in other government’s hands -Amount -US assets -Amount -Exchange rates -Germany -France -High rates -US blamed -Surcharge for realignment -Gold for trade concessions -Germany -Potential problems -Pompidou -Connally’s previous conversation with Kissinger -Japan -Deals with US on bilateral basis -Trade and money -Wants a multilateral sum -Canada -To be dealt on a bilateral basis -Potential US difficulties -France -Pompidou -Willy Brandt -Heath -Under pressure for agreement -Deutsche mark -Value -Franc -Gold-trade agreement -Trade concessions for the US -Remove surcharge -10% devaluation of the dollar 22 NIXON PRESIDENTIAL MATERIALS STAFF Tape Subject Log (rev. 10/06) Conv. No. 634-16 (cont.) -Pompidou -The President’s upcoming meeting with Pompidou -Knowledge of subject -Connally and Valery Giscard D’estaing -William P. Rogers -Proposed US deal with France -Maximum realignment -Proposed price of gold -Italy -Amount -US-France negotiations -Connally’s view -Realignment -US needs -Political risks involved -Trade concessions -US needs -US standing firms -Ultimatum -Agriculture -Grain storage commitment -Timing -Germany -Pompidou -US concessions -Possible agreement -Timing of meeting -Group of Ten -Negotiations -Value of money -Japanese -People’s Republic of China [PRC] and Union of Soviet Socialist Republics [USSR] -State Department -Kissinger -Pompidou -D’Estaing -Andre Meyer -Individuals to be conferred without the President’s meetings with Pompidou -Connally's meeting -Timing 23 NIXON PRESIDENTIAL MATERIALS STAFF Tape Subject Log (rev. 10/06) Conv. No. 634-16 (cont.) -D’Estaing -Call for instructions -Pompidou -Japanese -Preparations for meeting -Germany -France -Key to the European Community importance in making a deal with France -Meyer -President’s instructions -Bob Murphy -Meyer -Heath -Arthur H. Dean -Negotiator skills -Acquaintances -Kissinger -Possible attendance at meeting -Pompidou -Trust in Kissinger -Heath -Brandt -Heath’s possible agenda at meeting -Canada -Edgar J. Benson -Floating the dollar -Convertibility -Negotiations -Benson -Pierre E. Trudeau -Presence at meeting -US investments in Canada -Oil reserves -Automobiles -US requirements from Canada -Trade concessions -Floating the dollar -Percentage and value -Benson -Automotive agreement 24 NIXON PRESIDENTIAL MATERIALS STAFF Tape Subject Log (rev. 10/06) Conv. No. 634-16 (cont.) -Border crossings -Exemptions -Agreed to by Canada -Possible agreement -French -Bilateral meetings -The President’s upcoming meetings with Brandt and Eisaku Sato -Meeting in January -Group of Ten -Ultimatum from US -Surcharge -French -Connally's meeting -Group of Ten -Sato, Brandt and Heath -Potential problem for the President -France -Gold -Possible problems for US -History -Germany -Connally's schedule -Policy paper -Kissinger Brazil -The President's meeting with Emilio Garrastazu Medici 25 NIXON PRESIDENTIAL MATERIALS STAFF Tape Subject Log (rev. 10/06) Conv. No. 634-16 (cont.) ************************************************************************** BEGIN WITHDRAWN ITEM NO. 1 [National Security] [Duration: 16s ] BRAZIL END WITHDRAWN ITEM NO. 1 ************************************************************************** -Fidel Castro -Juan Velasco Alvarado -Organization of American States [OAS] -No change in US policy -Bolivia -Medici -Elections -Venezuela -Colombia -Argentine ambassador [Pedro E. Real] -Conversation with Connally -Democracy compared with stability -Unknown person -Population growth in Brazil -In comparison with -Bolivia -Chile -Argentina -Time span International monetary situation -Latin America -Canada -Southeast Asia -Indonesia -US economic growth 26 NIXON PRESIDENTIAL MATERIALS STAFF Tape Subject Log (rev. 10/06) Conv. No. 634-16 (cont.) -Gross National Product [GNP] -Compared to Great Britain -Indonesia ambassador’s [Suedjatmoko] previous conversation with Connally -Trudeau dinner -International organization [International Group for Aid to Indonesia [IGAI]] -Meeting in Brussels -Aid amount to Indonesia -US amount -Multilateral amount -Direct aid -Amount -Japan -Netherlands -Germany -Proposal to increase aid -Congress -World bank -Cut in aid -India -Assistance -Lt. Gen. T.N.J. Suharto Connally left at 5:54 pm.