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Conversation 008-111

TapeTape 8StartMonday, September 13, 1971 at 1:15 PMEndMonday, September 13, 1971 at 1:16 PMTape start time05:16:17Tape end time05:17:28ParticipantsNixon, Richard M. (President);  Connally, John B.Recording deviceWhite House Telephone
AI Summary

President Nixon expressed his appreciation to Treasury Secretary John B. Connally for his effective presentation to a business group regarding the administration's economic policies. The two discussed the necessity of managing expectations among business leaders, emphasizing that wage and price controls initiated following the President's September 9 address to Congress were not intended to be permanent. Connally underscored the importance of securing political and business support while framing the temporary nature of these economic interventions.

Economic policyWage and price controlsJohn B. ConnallyBusiness communityPolitical strategy
AudioNARA Description

On September 13, 1971, President Richard M. Nixon and John B. Connally talked on the telephone from 1:15 pm to 1:16 pm. The White House Telephone taping system captured this recording, which is known as Conversation 008-111 of the White House Tapes.

Nixon Library Finding Aid
Conversation No. 8-111

Date: September 13, 1971
Time: 1:15 pm - 1:16 pm
Location: White House Telephone

The President talked with John B. Connally.
     [See Conversation No. 571-1A]

     Economy
         -Business group
              -Connally’s talk
                    -President’s appreciation
              -Wage control
              -Support
              -President’s speech to Congress, September 9, 1971
              -Connally's talk
                    -Importance
                          -Political angle
              -Wage control
                    -Duration
Transcript (AI-Generated)

This transcript was generated automatically by AI and has not been reviewed for accuracy. Do not cite this transcript as authoritative. Consult the Finding Aid above for verified information.

Yeah.
Secretary Connolly, sir.
Yeah.
Hi, John.
Yes, sir, Ms. President.
I wanted to tell you, I appreciate your backing me up at that business group.
That was very salutary for them to hear what was possible because, you know, those fellows could sit there in a dream world sort of expecting us to go ahead and be able to control wages and so forth and so on, sort of ad infinitum.
That's right.
uh i think it's good for them to hear it because in the end whatever we do come up with we got to have their support sure do at the very least that's right very least well i i thought you did a very superb job in summarizing it and uh i was a little bit of a loss didn't know what else to do no but that's just good it's good for them to get the you see john they are not politicians but it's good for them to hear from you as a political man as to what the hell is possible and these guys uh
As you know, you were absolutely right.
Before we took this action, every businessman was saying, we've got to do something.
That's right.
A control agent.
That's right.
Now, of course, we moved, but they must be under no illusions that this crutch is going to be there forever.
That's right.
Okay.
All right, sir.
Thank you, sir.
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