{"conversationCode":"002-082","tapeNumber":2,"conversationNumber":82,"identifier":"37-wht-conversation-002-082","startDateTime":"1971-05-05T00:08:00.000Z","endDateTime":"1971-05-05T00:10:00.000Z","startDate":"4-May-1971","startTime":"8:08 PM","endDate":"4-May-1971","endTime":"8:10 PM","dateCertainty":"certain","timeCertainty":"certain","participants":"Nixon, Richard M. (President); Burns, Arthur F.;","description":"On May 4, 1971, President Richard M. Nixon and Arthur F. Burns talked on the telephone from 8:08 pm to 8:10 pm. The White House Telephone taping system captured this recording, which is known as Conversation 002-082 of the White House Tapes.","locationCode":"WHT","recordingDevice":"White House Telephone","latitudeEstimated":38.89767,"longitudeEstimated":-77.03655,"chronCode":1,"chronRelease":"First Chronological Release","chronReleaseDate":"5-Oct-1999","aogpRelease":null,"aogpSegment":null,"lastModified":"2015-07-27T17:04:10.235Z","findingAid":"Conversation No. 2-82\n\nDate: May 4, 1971\nTime: 8:08 pm - 8:10 pm\nLocation: White House Telephone\n\nThe President talked with Arthur F. Burns.\n\n     John B. Connally's statement on monetary policy\n          -Revaluation\n          -Burns’ conversation with foreign official\n          -Crisis\n\n     International monetary situation\n           -Paul A. Volcker\n           -Paul W. Mccracken\n           -Administration's possible policy\n           -Plan\n           -Burns’ forthcoming call to Connally\n           -Quadriad meeting","filename":["002-082.mp3"],"tapeStart":"03:05:04","tapeEnd":"03:07:30","participantsList":["Nixon, Richard M. (President)","Burns, Arthur F."],"prevCode":"002-081","nextCode":"002-083","transcript":[{"start":0.32,"end":11.81,"text":"Hello?"},{"start":11.83,"end":11.95,"text":"Hello?"},{"start":11.97,"end":12.19,"text":"Hi, Arthur."},{"start":12.21,"end":12.29,"text":"Yes."},{"start":12.31,"end":12.39,"text":"Yes."},{"start":12.41,"end":12.6,"text":"Yes, yes."},{"start":12.62,"end":13.4,"text":"You got a hold of him?"},{"start":13.42,"end":15.54,"text":"Yeah, he told me."},{"start":15.56,"end":21.77,"text":"Yeah."},{"start":21.79,"end":21.89,"text":"Yeah."},{"start":22.09,"end":35.41,"text":"Good."},{"start":35.43,"end":35.53,"text":"Good."},{"start":35.55,"end":44.36,"text":"Good."},{"start":44.38,"end":44.48,"text":"Good."},{"start":44.5,"end":44.6,"text":"Good."},{"start":44.62,"end":44.74,"text":"Good."},{"start":44.76,"end":44.98,"text":"Good."},{"start":45,"end":45.12,"text":"Good."},{"start":45.14,"end":45.24,"text":"Good."},{"start":45.26,"end":45.36,"text":"Good."},{"start":45.38,"end":48.67,"text":"Now the other thing, Arthur, is just that on another subject, I think you"},{"start":49.15,"end":58.3,"text":"And Volcker, you have confidence in him, haven't you?"},{"start":58.33,"end":58.53,"text":"All right."},{"start":58.55,"end":64.63,"text":"Now, you and Volcker and McCracken and the other people know things about this."},{"start":64.65,"end":68.02,"text":"We've got to grapple with this damn thing of the international monetary thing."},{"start":68.04,"end":74.27,"text":"Set a plan, decide what we want, and let's grapple with it now."},{"start":74.36,"end":74.87,"text":"You don't think so?"},{"start":74.89,"end":77.39,"text":"I don't mean this week, but I..."},{"start":79.19,"end":96.74,"text":"You'd rather keep staving it off?"},{"start":96.76,"end":96.92,"text":"I would."},{"start":96.94,"end":98.8,"text":"If I could shape the world, I would stave off until November 17 and then go to work promptly."},{"start":98.82,"end":98.92,"text":"What?"},{"start":98.94,"end":99.48,"text":"I'd go to work immediately."},{"start":99.5,"end":99.74,"text":"On the plan."},{"start":99.76,"end":100.42,"text":"Because I don't know what to do."},{"start":100.44,"end":100.56,"text":"Right."},{"start":100.58,"end":100.76,"text":"I get it."},{"start":100.78,"end":100.89,"text":"Okay."},{"start":100.91,"end":101.61,"text":"Well, we'll have to play it by ear."},{"start":101.63,"end":103.31,"text":"Yeah, but in the meantime, let's get a plan together."},{"start":103.33,"end":107.69,"text":"Because we've been living with this for two and a half years."},{"start":107.72,"end":107.81,"text":"Okay."},{"start":108.25,"end":110.41,"text":"That's right, that's right."},{"start":110.47,"end":111.05,"text":"Well, this is fine."},{"start":111.07,"end":112.58,"text":"I'm awfully glad you called him."},{"start":112.6,"end":114.76,"text":"Did you report, did you tell Connolly about your call?"},{"start":116.26,"end":116.9,"text":"No, no, I don't know."},{"start":116.92,"end":119.41,"text":"Call him and let him know, will you please?"},{"start":119.43,"end":119.77,"text":"Yes, I will."},{"start":119.79,"end":120.35,"text":"Good, Arthur, good."},{"start":121.51,"end":122.59,"text":"We've worked well together."},{"start":122.61,"end":125.38,"text":"Good, and we'll have another meeting of the quadriads, probably."},{"start":125.4,"end":126.06,"text":"I can listen to the conversation."},{"start":126.22,"end":137.26,"text":"Good."},{"start":137.28,"end":137.38,"text":"Good."},{"start":137.4,"end":142.51,"text":"And he said he would resign if they went the other way."},{"start":142.53,"end":142.65,"text":"Good."},{"start":142.67,"end":143.29,"text":"Good."},{"start":143.31,"end":143.41,"text":"Fine."},{"start":143.43,"end":144.03,"text":"Thanks for calling."}],"aiSummary":{"text":"President Nixon and Federal Reserve Chairman Arthur F. Burns discussed the escalating international monetary crisis and the need for the administration to formalize a concrete policy strategy. Nixon pushed Burns, Paul Volcker, and Paul McCracken to develop a proactive plan rather than continuing to delay action, despite Burns' preference for postponing significant changes until later in the year. The President directed Burns to coordinate with Treasury Secretary John B. Connally regarding their ongoing communication with foreign officials.","topics":["International monetary policy","Arthur F. Burns","John B. Connally","Economic planning","Paul Volcker","Federal Reserve"],"generatedAt":"2026-04-05T21:14:58.995Z"},"topicSlugs":["international-monetary-policy","arthur-f-burns","john-b-connally","economic-planning","paul-volcker","federal-reserve"],"audioDurationSec":145,"audioFiles":[{"file":"002-082.mp3","bytes":2479353,"durationSec":145.36,"bitrate":136453,"missing":false}],"audioIsShared":false,"audioProbedAt":"2026-09-18T02:19:20.570Z","findingAidSource":"nixonlibrary.gov subject log (2024-05), reslice-v2","findingAidUpdatedAt":"2026-09-18T08:42:32.967Z","audio":["https://nixon.nyc3.digitaloceanspaces.com/audio/002-082.mp3"],"url":"https://www.easynixon.org/tapes/002-082","nixonLibraryUrl":"https://www.nixonlibrary.gov/white-house-tapes/2/conversation-002-082","license":"Public domain (U.S. Government work). AI-generated fields (transcript, aiSummary) are provided as-is without warranty."}