Nixon White House Tapes — Conversation 007-122
Date: Sunday, August 15, 1971 at 9:46 PM
Participants: Nixon, Richard M. (President); Connally, John B.
Recording device: White House Telephone
Source: https://www.easynixon.org/tapes/007-122

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 Do not cite it as authoritative.

[0:03] I have secretary Conley.
[0:05] All right.
[0:07] Hello?
[0:08] Mr. President, you did a great job.
[0:10] Well, the baby's born.
[0:12] Well, that's great.
[0:13] I hope I didn't say anything that would embarrass you.
[0:14] No, sir.
[0:15] I thought it was wonderful.
[0:16] I thought it was great.
[0:17] I'd like my little comment about that the dollar will not be a hostage of international... That I thought of last night at 3 o'clock in the morning.
[0:24] I thought it was good, and I wrote it down.
[0:25] Well, it was worth staying up all night for.
[0:27] I thought that was the best line in it.
[0:29] Well, I thought you'd love that one.
[0:30] Yeah, I really did.
[0:32] But as a matter of fact, if I'd had a little more time, I could have done it a little more polished way.
[0:36] Oh, you did a beautiful job on it.
[0:38] I really thought it was great.
[0:39] I thought it was a very fine, effective speech.
[0:43] You shook up Pierre Paul Fletcher.
[0:45] We're in here, Paul Volcker.
[0:47] Where are you?
[0:48] I'm at Treasury now.
[0:49] Oh, yeah, yeah, yeah.
[0:49] I just walked over here.
[0:51] Yeah.
[0:51] I sat in Ron's office and watched you on three sets, and I watched CBS in particular, and they did a fine job for you.
[1:00] Bob Pierpont and Daniel Shore, they just said this is the domestic visit to pay keys.
[1:08] They just... Well, that's good.
[1:10] Yeah, it really is.
[1:12] They did a fine job.
[1:13] Yeah, the main thing is that the average person doesn't understand the international monetary system, but he will understand that this is something dramatic.
[1:20] Oh, he sure will.
[1:20] And the press is labeling it bad.
[1:22] I saw a few of the... Have you?
[1:24] What are they saying?
[1:25] What did you say?
[1:26] The lead is the wage price thing.
[1:28] And then they go on.
[1:29] That's good.
[1:30] That's the best lead.
[1:31] And they say it's far-reaching, it's sweeping changes, it's a dramatic move, and so forth.
[1:37] I think you're going to really be pleased with the lead in the story.
[1:41] Are you going to do the thing, the press tomorrow, the press conference or not?
[1:44] Yes, sir.
[1:44] Good.
[1:45] Great.
[1:46] But now, incidentally, I told Holloman, the one thing about that is do it on live television if you want, but if it inhibits you in any way.
[1:55] Oh, it won't inhibit me.
[1:55] Well, that's good.
[1:57] That's the best thing.
[1:58] You get between 7 and 10 million listens that hour, but if it does, then you just go on the news thing.
[2:05] The best thing is to have live television.
[2:09] But if you're going to do it, announce it at 9 o'clock in the morning, and then everybody in Wall Street will be listening.
[2:15] See what I mean?
[2:16] You're sure they know.
[2:18] Well, congratulations.
[2:19] I thought the speech was wonderful.
[2:21] I just thought it was a very fine way to present the problem in a very complex way.
[2:25] You know that I put it...
[2:26] I tried to...
[2:28] I mean, I know that some of the fellows thought I should have led off with international money.
[2:32] No, no, no.
[2:32] Nobody understands that.
[2:33] I led off with peace, jobs.
[2:36] That's right.
[2:36] Don't you agree?
[2:37] Yes, sir.
[2:37] No question.
[2:38] Because in all the... See, I did the press briefing at 7.30.
[2:41] I know you did.
[2:42] I went at 8.15.
[2:42] And all their questions... How'd it go?
[2:44] Fine.
[2:45] I think Ron will give you a better, more objective analysis, but I thought it went very well.
[2:49] All of it, sir.
[2:50] It went very well.
[2:51] And they led on the wage and price thing, and then on the international monetary thing.
[2:55] That's what they hung on those two things.
[2:56] Because they use big leads, but wage and price freeze is a big lead.
[2:59] Well, John, it wouldn't be done without you, by gosh.
[3:02] Well, Mr. President, you showed... You've got a lot of guts.
[3:04] You showed rare courage.
[3:06] You showed great insight into the problems of this country.
[3:09] I just...
[3:09] But the main thing is we've got to get the psychology to come through.
[3:12] That's right.
[3:13] Well, I... You know, the last part was...
[3:14] I spent a lot of time on that one.
[3:15] Sort of the idea that people have ran down this damn country 200 years ago.
[3:21] And isn't that the important thing?
[3:22] The spirit's got to return.
[3:24] That's right.
[3:24] Well, I just couldn't have been more pleased.
[3:26] I just really... And when you talk about...
[3:29] you're going to fight for this country, that you're going to make this country respected, you're going to make this country strong.
[3:36] I just... You notice I got in your line about burden sharing.
[3:38] Yes, sir.
[3:39] Yes, sir.
[3:39] Yes, sir.
[3:40] Okay.
[3:40] I think that's great.
[3:41] I really do.
[3:42] Well, if we gave them $143 billion, they've got to get off their ass and help us.
[3:46] Now, that's what the people are going to remember, too.
[3:50] If they did it and said it was right, they've got to help us now.
[3:54] Good.
[3:54] All right.
[3:54] Couldn't be more pleased.
[3:56] Congratulations.
[3:56] Thank you.