← 014-077014-079 →

Conversation 014-078

TapeTape 14StartThursday, November 11, 1971 at 8:24 PMEndThursday, November 11, 1971 at 8:25 PMTape start time02:27:06Tape end time02:28:30ParticipantsNixon, Richard M. (President);  White House operator;  Colson, Charles W.Recording deviceWhite House Telephone
AI Summary

President Nixon consulted Charles Colson regarding Federal Reserve Chairman Arthur F. Burns's recent public remarks on inflation in New York. Concerned primarily with how Burns's statements were perceived by his specific audience, Nixon directed Colson to move beyond wire service summaries and secure a firsthand account of the reception. Colson committed to contacting an attendee immediately to evaluate the impact of the comments on liquidity and investor sentiment, reporting his findings back to the President that evening.

Arthur F. BurnsInflationEconomic policyPublic relationsFinancial marketsFederal Reserve
AudioNARA Description

On November 11, 1971, President Richard M. Nixon, White House operator, and Charles W. Colson talked on the telephone from 8:24 pm to 8:25 pm. The White House Telephone taping system captured this recording, which is known as Conversation 014-078 of the White House Tapes.

Nixon Library Finding Aid
Conversation No. 14-78

Date: November 11, 1971
Time: 8:24 pm - 8:25 pm
Location: White House Telephone

The President talked with the White House operator.

     Charles W. Colson

The President talked with Colson.

[See Conversation No. 297-6]
     Arthur F. Burns
          -Statement in New York
                -Inflation
                -Effect on audience
                      -Colson's forthcoming conversation with James F. Cleary
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 Do not cite this transcript as authoritative.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.

Yeah.
Mr. Colson, sir.
Yeah.
Yes, sir.
Have you any report on Burns in New York yet?
I didn't get a firsthand report.
There is a wire service story which came out.
Apparently he was quoted.
I have it here in my folder.
It talked about, unfortunately, it talked about inflation.
Yeah.
Saying we're going to look at.
Yeah.
Well, hell, let me see.
Oh, that's all right, if he says we're going to lick it.
Well, the thrust of his remarks, Mr. President, I'm just trying to find it, what we took, but I thought I brought it home.
Well, the main thing is the effect on those people, not the public.
Why don't you check around and see how it affected that audience there, whether he gave them reassurances on liquidity, et cetera.
Right.
I will.
I'll call somebody who was there.
I can get an account from him tonight.
Oh, here it is.
I'm sorry.
I do have it.
The wire service.
I don't want to be bothered with that.
All right.
Well, let me get a first-hand report from someone.
That's the important thing, as you know.
And would you like me to call you back with that tonight?
Yeah.
Fine.
All right, sir.
I'll call now and then get back to you.
All right.
← 014-077014-079 →