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Conversation 008-038

TapeTape 8StartTuesday, September 7, 1971 at 5:32 PMEndTuesday, September 7, 1971 at 5:43 PMTape start time01:16:18Tape end time01:27:21ParticipantsNixon, Richard M. (President);  Colson, Charles W.Recording deviceWhite House Telephone
AI Summary

President Nixon and Charles Colson discuss the administration's political strategy for passing legislation related to the wage and price freeze and the upcoming transition to Phase II of the economic program. They review favorable stock market trends and positive congressional feedback regarding the President's scheduled speech to Congress. The participants also coordinate a plan to leverage Federal Reserve Chairman Arthur F. Burns as a primary spokesperson to bolster public and congressional support for the administration's economic initiatives.

Wage and price freezePhase IIArthur F. BurnsEconomic policyCongressional relationsPublic opinion
AudioNARA Description

On September 7, 1971, President Richard M. Nixon and Charles W. Colson talked on the telephone from 5:32 pm to 5:43 pm. The White House Telephone taping system captured this recording, which is known as Conversation 008-038 of the White House Tapes.

Nixon Library Finding Aid
Conversation No. 8-38

Date: September 7, 1971
Time: 5:32 pm - 5:43 pm
Location: White House Telephone

The President talked with Charles W. Colson.

[See Conversation No. 275-26]

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     Economy
         -Stock market
              -Fluctuations
              -Compared to September 3, 1971

      -Volume
      -Confidence
-The President's forthcoming speech to Congress, September 9, 1971
      -Wire service leads
            -Comments
      -Congress
            -Importance of President’s speech
            -Reports
                   -Enthusiasm
-Polls
      -Labor Day partisan poll
-Wage and price freeze
      -Phase II [Economic stabilization]
            -Legislation
                   -White House staff
            -Political priority
-Unknown man
      -Drugs and crime themes
-Arthur F. Burns
      -September 15, 1971
      -William L. Safire's talks with Burns
            -Network interview
      -Possible speech
      -Testimony
      -Speech
      -Television interview
      -Hearings
            -List of witnesses
                   -Testimony
                         -Business groups
                         -Chamber of Commerce
      -Testimony
            -Safire
      -Quadriad meeting
            -President’s possible conversation
      -Cabinet meeting
      -Safire's talk with Burns
-Hobart D. (“Hobe”) Lewis
      -Public response to wage and price freeze
            -Democrats
                   -Walter W. Heller
                   -Businessmen

                     -Citizens effort

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Transcript (AI-Generated)

This transcript was generated automatically by AI and has not been reviewed for accuracy. Do not cite this transcript as authoritative. Consult the Finding Aid above for verified information.

I have Mr. Carlson for you, Mr. Carlson.
Thank you.
market held pretty well.
Yeah, I know, I know.
It was up seven most of the day and then a little profit taking at the end, but after the Friday we had, I think that's very encouraging.
Yeah, it's a good solid day.
Sure is, and a good volume.
Yeah.
Which shows that the confidence... Well, the speech is probably not going to, it isn't going to give much of a lift.
There's nothing much new in it, but...
On the other hand, I guess the fact it's made keeps momentum.
Well, it's interesting, Mr. President.
The wire service leads are just the way I would have liked to have written them had I been able to.
It said that the president is determined to maintain the initiative, is keeping the leadership in the program, shows his determination.
It's really very good.
President Nixon moved Tuesday to keep the initiative in the resumed session of the 92nd Congress.
with a personal appeal for his broad new economic program.
Now, I think the fact that you go up there and consider it of such importance that you address the Congress, I think it'll be the kind of fire that we want to light under them.
And thus far, the reports really are coming very well from there.
There's a lot of enthusiasm.
Yes, as they come back in, a lot of enthusiasm.
And
Of course, these polls have helped.
Politicians read those.
But I haven't, other than the partisan stuff we took on Labor Day, which we'd expect to take, there really has been very little grumbling or weakening.
I think our fellows are in good shape on this one.
I didn't convey to you this morning, we are really turning about...
three or four of our better people just full time on this until we get the legislation through the Congress and get into phase two.
I think it has number one political priority.
I've had a bright young guy who has been working on drugs and crime and that sort of stuff and I've just hauled him off that.
One thing we want to do, of course, we've got a big gun sort of in the wings in Arthur Burns.
I noticed your memorandum covered him, and boy, we really got to trot him out.
He has said he was going to wait, and actually he always does.
But until, you know, he's going to be paid attention to, but about next week he could have one hell of an effect.
You put September 15th on the margin, and I think that's just right.
I think we...
somebody talking to him or anything?
Well Bill Safar has talked to him three times.
He has?
And Bill had him one day agreed agreeing that he would go on and do a network interview and then he called back and changed his mind then he was back on then he's back you know he's a temperamental fellow.
Well if a guy would just even if he knew come out and make a make a major speech or something or or for that matter I don't know
Well, I think he'll have to testify, Mr. President.
That's, of course, going to be a damn good forum for him.
But I'd like to get him before that.
I'd like to get a double shot at it.
I'd like to get either a major speech or a television interview and then schedule him in to testify.
The hearings are being booked now two weeks in advance.
I'm trying to get by the morning a complete list of the witnesses.
I know that a lot of the business groups are
lining up their testimony, and they're already scheduled in the Chamber of Commerce's schedule.
Arthur will have an effect when he testifies, but Sapphire should emphasize to him, look, Arthur, don't get frittered away.
You're the big gun.
We're all counting on you to go at the right time.
Well, he will be helpful.
I'll talk to him, too, when we have the next quadriad.
Well, we're going to have him to the Cabinet, that's right.
But I think having...
Well, Bill has got good rapport with him.
I know.
And I'll keep... Bill's point should be that, look, you're the big gun and the president's not going to pressure you, but he wants you to pick your time and then come in and let Salvo loose.
Okay.
Yes, sir.
Hope Lewis called this afternoon to say that he's having a very good reaction from people he's contacting around the country.
He's got some good Democrats.
He even thinks he's got Walter Heller lined up, which should be a real stroke if we get him.
And he's got some Democratic businessmen working for him and some money coming in.
So I think he's a good organizer.
We'll have a good citizen's effort going on the outside.
Thanks for watching!
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