Conversation: 682-002
Prev:  682-001 Next: 682-003Start Date: 10-Mar-1972 10:06 AM
End Date: 10-Mar-1972 10:36 AM
Participants:
Nixon, Richard M. (President); Connally, John B.; Bull, Stephen B.; Ehrlichman, John D.; Recording Device: Oval Office
Full Tape Conversation Start Time: 00:07:42
Full Tape Conversation End Time: 00:41:51
NARA Description:
On March 10, 1972, President Richard M. Nixon, John B. Connally, Stephen B. Bull, and John D. Ehrlichman met in the Oval Office of the White House from 10:06 am to 10:36 am. The Oval Office taping system captured this recording, which is known as Conversation 682-002 of the White House Tapes.
Nixon Library Finding Aid:
Conversation No. 682-2 Date: March 10, 1972 Time: 10:06 am - 10:36 am Location: Oval Office The President met with John B. Connally. Greetings George Meany -Health -Pay Board -Longshoremen -Productivity -George P. Shultz US economy -Money markets -Connally’s suggestions -Exchange of US currency -International monetary problem -Tax evasion -Organized crime -Drugs -Amnesty considerations 2 NIXON PRESIDENTIAL MATERIALS STAFF Tape Subject Log (rev. 10/06) -Bureau of Engraving and Printing -New currency -Electronic means of authentication -Counterfeiting -Gangsters -Drug dealers -Mafioso -John A. Volpe -Tax evaders -Banks -Holders of foreign currency -Exchanges -Exchanges -Clifford and Edith Irving case -$600,000 -US corporations -Currency holdings overseas Foreign Economies -France -Georges J.R. Pompidou, Valery Giscard D’estaing -Relations with the US -Previous money crises -Devaluation -US and French differences -Controls -Fixed parity -Philosophy and ideas in the European community -Pompidou -American dollar -Convertibility -European common currency -Relations with Great Britain -Common Market -Relations with Belgium, Holland, Italy and West Germany -Relations with the US -Connally’s view -Money markets -Common European currency -Criticism of the US -World confidence in the dollar -Arthur F. Burns 3 NIXON PRESIDENTIAL MATERIALS STAFF Tape Subject Log (rev. 10/06) -Paul A. Volcker -Possible controls -European community -Exclusion of US dollar -Germany -Great Britain -Italy -Belgium, Holland, Switzerland -Financial structure -Connally’s view -Possible European Community regulations and financial controls -Role of dollar -Possible exclusion -Effect on US economy -Compared to several years ago -Canada -Interest rates -Accumulation of dollars -Future role -Possibility of US controls -Flow of capital -Short and long term -European role -Example given by Connally -Outflow of capital -Reduce outflow through controls -Investment -Jobs -Controls -Prices and wages -Dollar outflow -Connally’s forthcoming talks to Shultz, Burns, Herbert Stein -The Presidents view -Ramifications of possible leak -Study groups -International monetary problems -Europe -Political and diplomatic aspects -US position in world -Treasury, State and Defense departments -Monetary maneuvers -Reluctance of agencies 4 NIXON PRESIDENTIAL MATERIALS STAFF Tape Subject Log (rev. 10/06) -British -Political situation -Move towards common market -People’s Republic of China [PRC], Soviet Union -Europe -France -Relations with the US -Connally’s view -Danes -Belgians -Dutch -Danes -British -Germans -East-West Italians -Role in European Community -Dealings with the US -Connally’s work on economics -Shultz -Burns -Convertibility -Bonn[?] -Paris -Henry A. Kissinger -Canada -The Presidents forthcoming trip -Connally’s view -Trade -Special Drawings Rights [SDRs] -State and Defense Departments -Cabinet participation -Rogers -Compared to previous meeting with French -Connally -David M. Kennedy -Protocol visit -Timing US economy -Exchange of all US currency -People’s concerns -Staff consideration 5 NIXON PRESIDENTIAL MATERIALS STAFF Tape Subject Log (rev. 10/06) -Las Vegas -Drugs, crime, tax evasion -American people -Possible evidence for prosecution -Internal Revenue Service [IRS] role -The President’s view -Politicians -Example of William E. Borah [?] Connally’s schedule -Forthcoming busing meeting International Telephone and Telegraph [ITT] case -President’s anti-trust policy -Press coverage -Richard Kleindienst -Vice President Spiro T. Agnew -John N. Mitchell -Witnesses -The President’s experience as an investigator -House Un-American Activities Committee -Hearsay -Alleged phone call from the President -Mitchell -Securities and Exchange Commission [SEC] file -Connally involvement -Mitchell testimony -Agnew Stephen B. Bull entered at an unknown time after 10:06 am. The President’s schedule -Meeting with John D. Ehrlichman Bull left at an unknown time before 10:36 am. ITT case -Connally’s advice -Democrats role -Convention -Money -Kleindienst 6 NIXON PRESIDENTIAL MATERIALS STAFF Tape Subject Log (rev. 10/06) -Settling the case -Unknown man -John F. Kennedy -Money involved -Supreme Court -Kennedy -Kleindienst -Jack N. Anderson -Richard W. McLaren -Connally’s advice -Television -Kleindienst, McLaren -Response -Strategy -White House -Agnew -Possible spokesman -Brit Hume -Dita D. Beard -Agnew -Divested companies -Food service -Sheraton Hotel -Avis -Role in convention -Democrats role -Contributions Connally left and Ehrlichman entered at 10:36 am. Aging issue meeting -Social Security issue -Prescription drugs issue -Medicare -Document for the President to read -Cabinet Committee recommendations -Shultz -Cost concerns -Ehrlichman’s talk with Connally -20% Social Security increase -Troika -Elliot L. Richardson and Arthur S. Flemming 7 NIXON PRESIDENTIAL MATERIALS STAFF Tape Subject Log (rev. 10/06) -Budget -Political implications -Flemming -Recommendations to the President -20% Social Security increase -Possible veto -Budget -Conservatives and moderates -View of deficit -Political expense -Aged persons problems Busing meeting -Cabinet Committee and lawyers -Length -Report to be delivered -Lawyers present -[Robert H. Bork] -Yale University The President and Ehrlichman left at 10:40 am.