Nixon White House Tapes — Conversation 007-152
Date: Sunday, August 15, 1971 at 11:24 PM
Participants: Nixon, Richard M. (President); Burns, Arthur F.
Recording device: White House Telephone
Source: https://www.easynixon.org/tapes/007-152
National Archives Catalog: https://catalog.archives.gov/id/417189591 (NAID 417189591)

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 Do not cite it as authoritative.

[0:01] Hello?
[0:02] Arthur?
[0:04] You must have been working hard.
[0:06] Well, I got in your line about stabilization.
[0:12] On the devaluation, I said we were stabilizing the dollar, which I think is the key thing there.
[0:22] But the wage price and the rest will be the lead.
[0:29] That's the big thing.
[0:30] The world was caused by surprise.
[0:37] There was no leak, apparently.
[0:41] Oh, no.
[0:42] That was the beauty of doing it up there in Camp David.
[0:46] Oh, yeah.
[0:47] Sure.
[0:48] Now the thing to do, Arthur, we've got to build a new structure.
[0:52] And as you and Frankie got to take the lead on that, I'm awfully glad we pulled him off of his going over and presenting the plan.
[0:56] Hell, we haven't got a plan yet.
[0:57] I haven't approved any damn plan.
[0:58] Do we know what we're going to do?
[0:59] Well, I'll tell you what I did.
[1:01] I sent Dewey James to go with Volker.
[1:08] Good.
[1:09] Is he with you?
[1:10] Yeah, he's with me.
[1:12] I gave him instructions.
[1:14] I gave him instructions, and he's telephoned me every day because I don't feel too comfortable.
[1:19] I don't either.
[1:21] Volker's got his own pet ideas, and by gosh, they may not be what we want.
[1:26] And he may put it out too soon.
[1:28] The thing to do is, if we want something, is to, you know, like you say, let's see what they have in mind.
[1:33] And then, you know, well, in any event, you keep close control of this thing, if you will.
[1:43] Yeah, you bet.
[1:45] Because you know more about it than those fellows.
[1:49] But I do appreciate your help.
[1:50] We'll now go to the ramparts and battle them.
[1:51] Yeah, I think so.
[1:53] And, you know, the...
[1:54] This is going to electrify the country.
[2:07] You think it will?
[2:08] I think it will.
[2:09] And I think it will help unify the country.
[2:13] Now, there will be criticism.
[2:14] The Democrats will strike back on the spending.
[2:16] Yeah.
[2:16] Well, we're on strong ground there, though.
[2:18] Yeah, they will say what we need is an increase in the spending rather than a reduction.
[2:20] That's always their way to increase government spending.
[2:23] And our way is to increase the private sector.
[2:27] But I think you're going to have Wilbur Mills with you.
[2:32] It'll be good.
[2:33] You can protect him a great deal.
[2:34] Oh, yes.
[2:35] Now, I'm close to Wilbur.
[2:35] I'm going to be in touch with Wilbur tomorrow.
[2:37] You know what I'll say to him?
[2:39] Wilbur, this is exactly what you've been asking for and praying for.
[2:45] Why don't you tell him this?
[2:46] The president personally has told you this.
[2:49] No question of credit.
[2:50] We want him to take the leadership, and we share the credit.
[2:54] You just tell him that.
[2:55] I will, and you know, really, it hurts nothing to give him all the credit in the world.
[3:00] I don't care.
[3:01] We just want it to work.
[3:03] And you're going to give him credit.
[3:05] Right?
[3:06] Yeah.
[3:06] We want it to work.
[3:06] But you tell him that I'm not interested in credit.
[3:09] I just want it to work, and that I personally will work together, and we aren't going to make any politics out of this.
[3:16] Yeah, I'm going to do that, and I'm going to get hold of it right here tomorrow.
[3:25] Good.
[3:27] Good.
[3:27] Ralph.
[3:27] Well, it's been a very constructive weekend, I suppose.
[3:29] Well, it was not dull.
[3:30] No.
[3:30] Okay, Arthur.
[3:30] You deserve some sleep.
[3:32] Okay, Buck.
[3:33] Thank you.
[3:34] Thank you.
[3:36] Bye.