Nixon White House Tapes — Conversation 002-078
Date: Tuesday, May 4, 1971 at 7:46 PM
Participants: Nixon, Richard M. (President); Connally, John B.
Recording device: White House Telephone
Source: https://www.easynixon.org/tapes/002-078

This transcript was generated automatically by AI (WhisperX) and has not been reviewed for accuracy. Do not cite it as authoritative.

[0:00] Hello?
[0:04] Hello?
[0:05] Hello?
[0:07] Hi, John.
[0:07] Sure, sure.
[0:21] Taking note of the large speculated movement of funds in Germany today, Secretary of the Treasury John B. Coffey re-emphasized the view of the United States that no change to the present structure of the exchange parity is necessary or anticipatory.
[0:27] The United States will continue to establish policies in cooperation with other countries maintaining the stability of the United Monetary System.
[0:48] As necessary, the United States will prepare to raise additional funds through dollar markets and to assist with appropriate investment outlays for foreign-listed banks.
[0:51] In pursuing our policies, a orderly, non-inflationary expansion of various pools of economic policy will be used in a flexible manner
[0:56] due regard for external as well as internal reasons.
[1:16] Very good.
[1:16] Measures to improve the balance of payments will remain in high priority.
[1:17] These measures are fully compatible with our objectives at home.
[1:19] Good, good, good.
[1:19] Very well, you're knowledgeable.
[1:20] Yep.
[1:20] Great.
[1:20] They're trying to locate these fellows on the phone.
[1:21] Oh, you mean the Germans, yeah.
[1:22] But you're going to issue that in any event?
[1:23] Yes.
[1:23] Fine.
[1:23] Good deal.
[1:23] Fine, John.
[1:24] Good, good.