Conversation: 932-001
Prev: 931-003 Next: 932-002Start Date: 5-Jun-1973 3:07 PM
End Date: 5-Jun-1973 5:18 PM
Participants:
Nixon, Richard M. (President); Haig, Alexander M., Jr.; Shultz, George P.; Ash, Roy L.; Stein, Herbert; Dunlop, John T.; Cole, Kenneth R., Jr.; Connally, John B.;Recording Device: Oval Office
NARA Description:
On June 5, 1973, President Richard M. Nixon, Alexander M. Haig, Jr., George P. Shultz, Roy L. Ash, Herbert Stein, John T. Dunlop, Kenneth R. Cole, Jr., and John B. Connally met in the Oval Office of the White House from 3:07 pm to 5:18 pm. The Oval Office taping system captured this recording, which is known as Conversation 932-001 of the White House Tapes.
Nixon Library Finding Aid:
Conversation No. 932-1
Date: June 5, 1973
Time: 3:07 pm - 5:18 pm
Location: Oval Office
The President met with Alexander M. Haig, Jr., George P. Shultz, Roy L. Ash, Herbert Stein,
John T. Dunlop, Kenneth R. Cole, Jr., and John B. Connally. The recording began at an
unknown time while the meeting was in progress.
National economy
-Possible freeze
-Duration
-60 day freeze
-Congressional response
-Possible legislation
-Trade bill
-Stabilization bill
-Sale of stockpiles
-Farm bill
-Economic structure after freeze
-Economists’ response
-Labor unions’ response
-30 day freeze
-Wages
-A luncheon
-[Unintelligible name]
-A briefing
-Labor-Management Advisory Committee meeting
-Possible freeze
-30 days
-Psychological effect
-60 days
-Psychological effect
-90 days
-Follow-up program
-2-
NIXON PRESIDENTIAL LIBRARY AND MUSEUM
Tape Subject Log
(rev. May-2013)
Conversation No. 932-1 (cont'd)
-Dunlop
-Wages
-Construction, rubber, oil, railroad, construction, and steel industries
-General Electric Corporation
-Electrical industry
-Oil
-Special formula
-Teamsters
-Frank E. Fitzsimmons
-President’s influence
-Food
-Price increases
-Percentages
-Importance
-Inflation rate
-Compared to general rate
-Congressional action
-Repeal import tariffs
-Emergency
-Acreage limitations
-Duration
-President’s possible conversation with Luis Echeverria Alvarez
-Work permits
-Laborers
-Food production
-Union response
-Food prices
-Congressional response
-Compared t European Practices
-German labor imports
-Italy, Spain, Yugoslavia, Mediterranean
-Unemployment
-American laborers
-Food production
-American work ethic
-Tariffs
-Removal
-3-
NIXON PRESIDENTIAL LIBRARY AND MUSEUM
Tape Subject Log
(rev. May-2013)
Conversation No. 932-1 (cont'd)
-Exports
-Prices
-Meat, eggs, milk
-Possible effect of limitation
-Agricultural Department
-Foreign economic policy
-Conflict
-Trade barriers
-American food prices
-Trade negotiations
-US farmers
-Recommendations
-Export controls
-Possible freeze
-Uncertainty
-Connelly as Secretary of Treasury
-Cabinet secretaries
-Necessity for support of President’s policy
-Status quo
-Uncertainty
-Congressional resolution
-Freeze
-Export control
-Speculation
-60 days
-Need for action
-Speculation
-Possible freeze
-Paper
-Statement
-Impact
-President’s economic policy
-Evaluated
-Benefits
-Consequences
-Public perception
-Confidence
-4-
NIXON PRESIDENTIAL LIBRARY AND MUSEUM
Tape Subject Log
(rev. May-2013)
Conversation No. 932-1 (cont'd)
-Economists’ views
-Support for freeze
-Controls
-Possible freeze cycles
-Phase II
-Business and labor interests
-Large corporations
-Mandatory freezes
-Control mechanisms
-Consequences
-60 day freeze
-Food
-Tariffs
-Export controls
-Possible effects
-Prices
-Trade
-American public
-General Agreement on Tariffs and Trade [GATT]
agreement
-Control of inflation
-Forthcoming Organisation for Economic Co-operation and Development
[OECD] meeting
-Shultz
-Agenda
-August 1971 program
-10 percent import surcharge
-Effects
-Domestics politics
-International economic negotiations
-State Department reactions
-Exports
-Possible controls
-Notification [?]
-Purchase
-Limits
-Duration
-5-
NIXON PRESIDENTIAL LIBRARY AND MUSEUM
Tape Subject Log
(rev. May-2013)
Conversation No. 932-1 (cont'd)
-Types of items
-Food stuffs
-Licensing
-Crop years
-Commodity prices
-Recent movement
-Embargoes
-Possible controls
-30 or 60 day freeze
-Existing contracts
-Deliveries
-Orders
-Food
-Possible freeze
-Export controls
-Possible effects
-International trade
-Agriculture Department, National Security Council [NSC], State
Department
-[First name unknown] Cooper
-Conflict of domestic and international goals
-Opposition to surcharges
-Rise in prices
-60 day embargo of exports
-Licensing
-Grains, chicken
-Psychological effect
-Increase in prices
-Duration
-Size of crop
-Weather
-NSC, State Department concerns
-Domestic problem
-Shultz’s forthcoming conversation with Earl L. Butz
-Commerce Department
-Labor
-Possible freeze
-6-
NIXON PRESIDENTIAL LIBRARY AND MUSEUM
Tape Subject Log
(rev. May-2013)
Conversation No. 932-1 (cont'd)
-60 days
-Effect
-Perception
-Pierre Rinfret
-Albert E. Sindlinger
-Follow-up
-Future actions
-Popular opinion
-Business, labor, homemakers
-Perception of economic controls
-Congress
-Compared to situation in August 1971
-Follow-up
-Phase II
-60 day freeze
-Follow up
-Effects of controls
-People
-Farm Bureau
-Labor
-1946 controls
-Effectiveness
-People
-President’s forthcoming speech
-Food prices
-Connally
-Freeze
-Reaction
-Butz’s view of freeze
-Soy bean oil
-Possible freeze
-Haig’s schedule
-Speech at United States Military Academy at West Point
-Possible message for Walter B. Wriston
Shultz, Ash, Stein, Dunlop, and Cole left at 4:27 pm.
-7-
NIXON PRESIDENTIAL LIBRARY AND MUSEUM
Tape Subject Log
(rev. May-2013)
Conversation No. 932-1 (cont'd)
Wriston
-Possible role with administration
-Energy czar
-First National Bank [?]
-Stature
-Knowledge of energy industry
-Henry Wriston
-Capabilities
-Knowledge of energy situation
-Management experience
-First National Bank
Haig’s schedule
-West Point speech
-Graduation banquet
National economy
-Compared to situation in August 1971
-President’s position
-Possible freeze
-Solution for economic problems
-Possible controls
-Congressional views
-Effect
-Free economy
-Unending controls
-Administration’s message
-Food prices
-60 day freeze
-Controls on exports
-Poultry, hogs, sheep, grain
-Congress’s view
-Food
-Expectations
-Commodity prices
-Recent movement
-Prices
-8-
NIXON PRESIDENTIAL LIBRARY AND MUSEUM
Tape Subject Log
(rev. May-2013)
Conversation No. 932-1 (cont'd)
-Consumer compared to investor
-Statement
-Butz’s view on soybeans
-Recent rises
Connally
-Role in administration
-Haig
-Effect
-Trip to Florida
-Full-time
-Treasury Department
-State Department
-US-Union of Soviet Socialist Republics [USSR] summit
-Europe
-Henry A. Kissinger
US foreign policy
-Forthcoming summit meetings
-“Year of Europe”
-Press coverage
-President’s meeting with Georges J. R. Pompidou
-France’s support
-Alliance
-Atlantic Charter
-Economy
-Alliance
-Economic progress
-Future action
Connally
-Role in administration
-Timing
-Watergate
-President’s possible resignation
-Firing of H. R. (“Bob”) Haldeman and John D.
Ehrlichman
-9-
NIXON PRESIDENTIAL LIBRARY AND MUSEUM
Tape Subject Log
(rev. May-2013)
Conversation No. 932-1 (cont'd)
-Possible impeachment of President
-Paul N. (“Pete”) McCloskey, Jr.
Watergate
-News stories, June 3
-John W. Dean, III
-Lt. Gen. Vernon A. Walters’ memoranda of conversations [memcons]
-Clark M. Clifford’s statement
-Resignations of President and Spiro T. Agnew
-Patrick J. Lucey’s statement
-President’s resignation
-Effect
-Connally’s advice
-White House response
-President’s role
-Ervin Committee, grand jury investigation
-Popular opinion
-President’s role
-Proof
-White House response
-White House response
-Leonard Garment’s role
-Haldeman, Ehrlichman
-President’s activities
-Schedule
-Leonid I. Brezhnev
-Popular opinion
-Press and Senate
-White House response
-Popular opinion
-President’s knowledge
-Haldeman and Ehrlichman
-Knowledge
-Contacts with President
-Popular opinion
-White House response
-National economy
-10-
NIXON PRESIDENTIAL LIBRARY AND MUSEUM
Tape Subject Log
(rev. May-2013)
Conversation No. 932-1 (cont'd)
-Franklin D. Roosevelt’s “Fireside Chats”
-Effect
-Tone
-Congress
-Archibald Cox compared with Samuel J. Ervin, Jr.
-Hearings
-Possible duration
-White House response
-President as leader
-Political psychology
-Export controls on food
-Style
-Cabinet ideas
-President as leader
-Caribbean Common Market
-Americans’ ownership of gold
-Cabinet ideas
-Effect of President’s presidency
-Press, Congress
-White House response
Connally
-Role on White House staff
-Energy Council, other meetings
-Florida
-Watergate
-Senate
-Conflict of interest
-Effect on Connally
-Role as Special Consultant
-Travel
-Importance
-American people
-Melvin R. Laird’s role
-Need
-Conflict of interest
-Resignation from law firm
-11-
NIXON PRESIDENTIAL LIBRARY AND MUSEUM
Tape Subject Log
(rev. May-2013)
Conversation No. 932-1 (cont'd)
-Demeanor
-Title
-Announcement
-Place on staff
-Usefulness
-Shultz
-Helpfulness
-Possible effect
-President
-Suspicions
-Shultz, Stein, Arthur F. Burns
-Media coverage
-Positions
-Cost of Living Council [COLC]
-Energy advisory council
-President’s Foreign Intelligence Advisory Board
-Energy advisory council
-John J. McCloy
-Capabilities, age
-Role in leadership
-Possible position for Connally
-McCloy
-Possible change
-Frequency of availability
-Announcement
-Media coverage
-Title
-Special Consultant to the President
-Duties
-Transportation
-Title
-Special Advisor to the President
-Conflict of interest
-Connally’s law firm
-Resignation
-Effectiveness
-12-
NIXON PRESIDENTIAL LIBRARY AND MUSEUM
Tape Subject Log
(rev. May-2013)
Conversation No. 932-1 (cont'd)
White House staff
-Tasks
-Options for President
-Viewpoints of advisors
National economy
-Connally’s meeting with Shultz, June 5th
-Gold
-Call-in of paper currency
-Effect
-Stein
-Distraction to Americans
-Financial misdeeds
-Donations to Internal Revenue Service [IRS]
Connally
-Role on White House staff
-Contribution to staff
-Schedule
-Trips
-Moscow
President’s schedule
-Brezhnev visit to US
Connally
-Role on White House staff
-Announcement
-Brezhnev visit
-Schedule
-Watergate
-Washington, DC
-Role on White House staff
-Announcement
-Availability
-Announcement
-Brezhnev visit
-13-
NIXON PRESIDENTIAL LIBRARY AND MUSEUM
Tape Subject Log
(rev. May-2013)
Conversation No. 932-1 (cont'd)
-President’s schedule
-Title
-Special Advisor to the President
-Availability
-Energy, national economy, foreign intelligence advice
-Trips to Washington, D.C.
-Conflict of interest
-Law firm
-McCloy’s law firm
-President’s assessment
-Effect
-Connally’s status
President’s schedule
-Watergate
-Dates
-Haldeman and Ehrlichman
-Firing
-Effect on President
Connally
-Role with White House staff
-Changes
-Haig
-Schedule
-Role on White House staff
-Usefulness
-Economy
-Energy
-Trips
-Conflict of interest
-Resignation from law firm
-McCloy
-Special Advisor
-Effect
-Headquarters
-Houston
-14-
NIXON PRESIDENTIAL LIBRARY AND MUSEUM
Tape Subject Log
(rev. May-2013)
Conversation No. 932-1 (cont'd)
-Executive Office Building [EOB]
-Hotel
-Finances
-Connally’s payments
-Allegations
-Conflict of interest
-Compared to Bryce N. Harlow
-Title
-Schedule
-Foreign travel
-Brezhnev’s summit
-San Clemente
-July 1973
-Congressional recess
President’s schedule
-San Clemente side trips
-Florida
-Peoria, Illinois
-Brezhnev
-Houston, Texas
-Splashdown
Connally left at 5:13 pm.
Connally [?]
-Role on White House staff
-Necessity
-Title
-Conflict of interest
-Views on economic program
-Advisors
-President’s role
-Views on Watergate
-Connally’s advice
Watergate
-15-
NIXON PRESIDENTIAL LIBRARY AND MUSEUM
Tape Subject Log
(rev. May-2013)
Conversation No. 932-1 (cont'd)
-Connally’s views
-Popular opinion
-President’s role
-President’s schedule since April 15
-Press coverage
-President’s schedule
-Outside Washington, D.C., California
-Brezhnev
-Press coverage
-Haig’s conversation with J. Fred Buzhardt, Jr.
-President’s forthcoming conversation with Buzhardt
Haig’s schedule
-West Point
-Return to Washington, DC
Watergate
-Connally’s view
-White House response
Haig left at 5:18 pm.