{"conversationCode":"010-099","tapeNumber":10,"conversationNumber":99,"identifier":"37-wht-conversation-010-099","startDateTime":"1971-10-06T21:19:00.000Z","endDateTime":"1971-10-06T21:22:00.000Z","startDate":"6-Oct-1971","startTime":"5:19 PM","endDate":"6-Oct-1971","endTime":"5:22 PM","dateCertainty":"certain","timeCertainty":"certain","participants":"Nixon, Richard M. (President); Colson, Charles W.;","description":"On October 6, 1971, President Richard M. Nixon and Charles W. Colson talked on the telephone from 5:19 pm to 5:22 pm. The White House Telephone taping system captured this recording, which is known as Conversation 010-099 of the White House Tapes.","locationCode":"WHT","recordingDevice":"White House Telephone","latitudeEstimated":38.89767,"longitudeEstimated":-77.03655,"chronCode":2,"chronRelease":"Second Chronological Release","chronReleaseDate":"26-Oct-2000","aogpRelease":null,"aogpSegment":null,"lastModified":"2015-07-27T17:04:10.235Z","findingAid":"Conversation No. 10-99\n\nDate: October 6, 1971\nTime: 5:19 pm - 5:22 pm\nLocation: White House Telephone\n\nCharles W. Colson talked with the President.\n\n[See Conversation No. 284-14D]\n\n     Stock market\n          -Level of increase\n          -Albert H. Gordon\n          -Buying spree\n               -Tax bill\n               -President's schedule, October 7\n                      -Phase II speech\n\n     Wholesale prices\n         -Decrease\n         -William L. Safire\n         -H. R. (“Bob”) Haldeman\n         -Decline\n               -Past trends","filename":["010-099.mp3"],"tapeStart":"03:09:21","tapeEnd":"03:11:24","participantsList":["Nixon, Richard M. (President)","Colson, Charles W."],"prevCode":"010-098","nextCode":"010-100","transcript":[{"start":0.89,"end":1.96,"text":"Yeah."},{"start":1.98,"end":4.71,"text":"I was just calling back, Mr. President, to say that that figure is accurate."},{"start":4.87,"end":5.59,"text":"Oh, it did go up."},{"start":5.61,"end":7.9,"text":"It did, and Al Gordon in New York said it did."},{"start":8.42,"end":12.1,"text":"all went up on a huge buying spree in the last hour."},{"start":12.12,"end":13.83,"text":"A hell of a lot of buying pressure."},{"start":13.85,"end":14.85,"text":"Fifteen million shares."},{"start":15.21,"end":16.33,"text":"How does he think?"},{"start":16.35,"end":16.79,"text":"Two things."},{"start":16.85,"end":18.75,"text":"The passage of the tax bill."},{"start":19.05,"end":20.9,"text":"The tax bill, of course, of course."},{"start":20.96,"end":24.66,"text":"But he thinks that's secondary, definitely, to the fact that you're speaking tomorrow night."},{"start":24.76,"end":24.92,"text":"Yeah."},{"start":25.34,"end":29.23,"text":"The wire service stories on your speech are running very positive."},{"start":30.33,"end":30.43,"text":"Yeah."},{"start":30.75,"end":32.73,"text":"That we are going to have controls."},{"start":32.85,"end":36.18,"text":"Well, it says, although details of the phase two plans are not yet confirmed,"},{"start":36.6,"end":40.7,"text":"It's clear that they'll provide for continued stabilization."},{"start":40.91,"end":44.33,"text":"It's a long, very bullish release."},{"start":44.35,"end":45.29,"text":"It hit about $2.30."},{"start":45.45,"end":48.3,"text":"What is the situation on the wholesale prices?"},{"start":48.32,"end":49.36,"text":"That's coming out tomorrow."},{"start":49.66,"end":50,"text":"Yes, sir."},{"start":50.12,"end":54.93,"text":"Now, we've got something in here that says they went down."},{"start":54.97,"end":56.03,"text":"They didn't go down, did they?"},{"start":56.09,"end":56.55,"text":"Yes, sir."},{"start":57.34,"end":59.46,"text":"The wholesale prices actually declined?"},{"start":59.54,"end":62.24,"text":"An actual decline in wholesale prices."},{"start":62.28,"end":72.3,"text":"Sapphire's standing here and smiling like a shasher cat because I told him that, Haldeman had told me, they went up, he said, three-tenths of one percent actual and four-tenths adjusted."},{"start":72.42,"end":73.06,"text":"No, that's down."},{"start":74.06,"end":74.96,"text":"Well, he had it wrong."},{"start":75.28,"end":76.64,"text":"I said, well, that isn't very much."},{"start":76.72,"end":78.38,"text":"I said, hell, it was four-tenths last time."},{"start":78.72,"end":79.5,"text":"Oh, hell no."},{"start":79.86,"end":80.77,"text":"It went down, actually."},{"start":80.79,"end":86.33,"text":"Interestingly enough, it is the first decline in wholesale prices of any kind since November of 1970."},{"start":86.72,"end":89.24,"text":"They've only gone down twice in the last two years."},{"start":89.28,"end":90.84,"text":"Sapphire's got that in his speech."},{"start":90.86,"end":93.61,"text":"And it's the biggest single drop since October of 1966."},{"start":93.65,"end":95.27,"text":"So something happens."},{"start":95.29,"end":96.49,"text":"We must have done something right."},{"start":96.61,"end":97.23,"text":"Oh, there's no question."},{"start":97.25,"end":98.31,"text":"The industrial prices went down 1%."},{"start":98.53,"end":99.81,"text":"A lot of it was food, of course."},{"start":100.77,"end":101.25,"text":"Yes, sir."},{"start":101.31,"end":108.62,"text":"But the important thing about the industrials is that on a seasonally adjusted basis, this is the first time in three years that they've decreased."},{"start":108.9,"end":110.06,"text":"Right, right."},{"start":110.08,"end":111.95,"text":"So it's a hell of a good shot in the air."},{"start":112.43,"end":112.69,"text":"Great."},{"start":113.17,"end":113.47,"text":"Fine."},{"start":113.49,"end":114.69,"text":"Well, I'm glad to hear about the market."},{"start":114.97,"end":115.19,"text":"Yes, sir."},{"start":115.31,"end":116.69,"text":"And we'll..."},{"start":117.11,"end":118.97,"text":"We'll get Sapphire back to work."},{"start":119.15,"end":119.35,"text":"Fine."},{"start":119.53,"end":119.81,"text":"Fine."},{"start":119.83,"end":120.34,"text":"Thank you, sir."}],"aiSummary":{"text":"President Nixon and Charles Colson discuss a significant surge in the stock market, which Colson attributes to the passage of a tax bill and the positive anticipation surrounding the President's upcoming Phase II economic policy speech. The two also verify positive data regarding wholesale prices, noting a rare decline that provides favorable optics for the administration's economic efforts. Colson reports that speechwriter William Safire is incorporating this favorable pricing data into the President's scheduled remarks.","topics":["Stock market","Tax bill","Phase II","Wholesale prices","Economic policy","William Safire"],"generatedAt":"2026-04-05T23:11:30.344Z"},"topicSlugs":["stock-market","tax-bill","phase-ii","wholesale-prices","economic-policy","william-safire"],"audioDurationSec":122,"audioFiles":[{"file":"010-099.mp3","bytes":2930937,"durationSec":122.04,"bitrate":192122,"missing":false}],"audioIsShared":false,"audioProbedAt":"2026-09-18T02:19:21.709Z","audio":["https://nixon.nyc3.digitaloceanspaces.com/audio/010-099.mp3"],"url":"https://www.easynixon.org/tapes/010-099","nixonLibraryUrl":"https://www.nixonlibrary.gov/white-house-tapes/10/conversation-010-099","license":"Public domain (U.S. Government work). AI-generated fields (transcript, aiSummary) are provided as-is without warranty."}