Conversation: 724-003
Prev: 724-002 Next: 724-004Start Date: 15-May-1972 3:32 PM
End Date: 15-May-1972 4:06 PM
Participants:
Nixon, Richard M. (President); Shultz, George P.; [Unknown person(s)]; Bull, Stephen B.; Connally, John B.;Recording Device: Oval Office
Full Tape Conversation Start Time: 01:33:01
Full Tape Conversation End Time: 02:06:11
NARA Description:
On May 15, 1972, President Richard M. Nixon, George P. Shultz, unknown person(s), Stephen B. Bull, and John B. Connally met in the Oval Office of the White House from 3:32 pm to 4:06 pm. The Oval Office taping system captured this recording, which is known as Conversation 724-003 of the White House Tapes.
Nixon Library Finding Aid:
Conversation No. 724-3
Date: May 15, 1972
Time: 3:32pm - 4:06 pm
Location: Oval Office
The President met with George P. Shultz.
Greetings
Shultz's health
Shultz's trip to South
-H. R. (“Bob”) Haldeman's report
14
NIXON PRESIDENTIAL MATERIALS STAFF
Tape Subject Log
(rev. Jan-02) Conv. No. 724-3 (cont.)
-States visited
-North Carolina
-Mississippi
-Louisiana
-Meeting with bi-racial committees
-Support for President's Vietnam policy
President's discussion with Alexander M. Haig, Jr.
An unknown person entered at an unknown time after 3:32 pm.
Refreshment order
The unknown person left at an unknown time before 3:54 pm.
Vietnam
-Support for the President
-Washington-based ambassadors
-Swiss ambassador's [Felix Schnyder] report
-Polls
-Opinion Research Corporation [ORC]
-Louis P. Harris poll
-Percentages
-Success
-Previous Central Intelligence Agency [CIA] report
-Contrast with current situation
-Cambodian supply lines
-Sihanoukville
-Sea lanes
-Railroad Bridges
-Surgical bombing
-Oil reliance
-Contrast with guerrilla warfare
-Support for the President's actions
-President's peace offer
-Lifting blockade
-Releasing prisoners of war [POWs]
-Ceasefire
-Alternative
-US withdrawal
-Consequences
Shultz's nomination as Secretary of Treasury
15
NIXON PRESIDENTIAL MATERIALS STAFF
Tape Subject Log
(rev. Jan-02) Conv. No. 724-3 (cont.)
-Surprise nature
-Reasons
-John B. Connally
-Agreement with President on tenure
-Extension
-Resignation
-Announcement
-Day
-Future plans
-National Security Council [NSC]
-Announcement
-Qualifications
-Caspar W. Weinberger
-Nomination as Director of Office of Management and Budget [OMB]
-Alternatives
-Value to Administration
-Work with Arthur F. Burns
-Work with OMB
-Ease of confirmation
-Surprise nature
-Qualifications
-Changes at Treasury Department
-Number of positions
-President's and Connally's choice
-Announcement
-Haldeman meeting with Burns
-Cabinet meeting
-Time
-Press briefing
-Connally's role
-Weinberger's and Shultz's role
-President's advice
-Choice of lieutenants
-Difficulty of position
-Shultz's reply
-Connally's resignation
-Reasons
-Political
-Private
-Idanell Brill (“Nellie”) Connally
-Budget preparation
-Weinberger's role
-Advice from Shultz
16
NIXON PRESIDENTIAL MATERIALS STAFF
Tape Subject Log
(rev. Jan-02) Conv. No. 724-3 (cont.)
-Qualifications and philosophy
-Connally's concurrence
-International markets
-Tax reform
-Budget
-Work with Weinberger, Herbert Stein
-Work with Burns
-Difficulty
-Press and congressional opinions
-Acceptance
-Honor
-Responsibility
-Work with Cost of Living Council [COLC]
-Coast Guard
-John A. Volpe
-Work on Vietnam
Shultz's topics for meeting with the President
-Discussion postponed
Stephen B. Bull entered at an unknown time after 3:32 pm.
Connally
-Meeting with the President and Shultz
Bull left at an unknown time before 3:54 pm.
Budget
-President's position
-Haldeman's report
-Publicity
-Campaign issue
-Stringency
-Connally's work
-House Resolution [HR] 1
-Revenue sharing
-Agricultural programs
-Cotton program
-Director
-Weinberger
-Shultz’s view
-Replacement possibilities
-Frank C. Carlucci
17
NIXON PRESIDENTIAL MATERIALS STAFF
Tape Subject Log
(rev. Jan-02) Conv. No. 724-3 (cont.)
-Arnold R. Weber
-The President’s view
-Future possibilities
Vietnam
-Support for the President
-George Meany
-President's call
-Statement
Shultz as Secretary of Treasury
-Lack of free time
-Proximity to White House
Connally entered at 3:54 pm.
Greeting
Connally
-Resignation
-Shultz as successor
-Work with Shultz
Shultz
-Qualifications
-Background
-Work with Weinberger
-Work with Burns
-Milton Friedman
-Appointments
-Connally's advice
-Richard V. Adams
-John S. Nolan
-Jack F. Bennett
-Frederic W. Hickman
-Connally’s view
-Paul A. Volcker
-Connally’s view
-Possible replacement
-Bennett
-Adams
-James W. Donley
-Staff meeting
18
NIXON PRESIDENTIAL MATERIALS STAFF
Tape Subject Log
(rev. Jan-02) Conv. No. 724-3 (cont.)
-Time
-Connally's and Shultz's appearance
-Transition
-Confirmation
-Acting Secretary status
-Transition
-Duration
-Date
-Meetings
-OMB staff
-Connally
-OMB staff
-Weinberger's attendance
-Sequence
-Press briefing
-Walk to Treasury Department
-Treasury Department staff
-Internal Revenue Service [IRS]
-Customs
-Available positions
-Gordon Gooch
-Current position
-Federal Power Commission
-Background
-Connally’s view
-Background
-Connally’s view
-Desire to leave Federal Power Commission
-Connally’s view
Connally
-Future
-President's Foreign Intelligence Advisory Board [PFIAB]
Shultz
-Position to take
-International monetary affairs
-Trade
-Convertibility
Burns
-Position as Governor of International Monetary Fund [IMF]
-Nathaniel Samuels
19
NIXON PRESIDENTIAL MATERIALS STAFF
Tape Subject Log
(rev. Jan-02) Conv. No. 724-3 (cont.)
-Resignation as alternate
-Agreement with Burns and Edward M. Kennedy
-Burns as alternate governor
-Authority under Nixon
-The President’s view
Connally gift
-Sculpture
-1939 World's Fair
-Cyrus R. Smith
Bull entered at an unknown time after 3:54 pm.
President's schedule
-Forthcoming meeting with Weinberger
Bull left at an unknown time before 4:06 pm.
Schedules
-Shultz
-Connally
-Press briefing
Connally left at 4:06 pm.
-Shultz and Weinberger
-Meeting with the President
-Time
-President
-Donald McI. Kendall meeting
Shultz left at 4:06 pm.