Nixon White House Tapes › Tape 26 › Conversation 026-008

Nixon phone call with Shultz on World Bank and Foreign Policy

Monday, June 26, 1972 · 11:45 AM–11:47 AM ET · White House Telephone · 2 min

ParticipantsNixon, Richard M. (President); Shultz, George P.; Nixon, Richard M. (President); Shultz, George P.Conversation026-008 on Tape 26 (tape position 00:09:38–00:11:04)StartMonday, June 26, 1972 at 11:45 AMEndMonday, June 26, 1972 at 11:47 AMRecording deviceWhite House TelephoneSourceNixon Library record for 026-008 ↗

AI Summary

President Nixon and George Shultz discuss the administration's stance on World Bank loans to nations that have acted against United States interests, specifically citing Chile, Iraq, and India. Nixon instructs Shultz to ensure the Treasury Department maintains a firm policy regarding these loan approvals, expressing particular concern over the involvement of World Bank head Robert McNamara. Peter Flanigan is tasked with coordinating with Shultz to ensure consistent enforcement of this directive across the administration.

Audio

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Position in tape: 00:09:38 – 00:11:04

026a.mp3
026b.mp3

Transcript (AI-generated)

This transcript was generated automatically by AI (WhisperX) and has not been reviewed for accuracy. Names and numbers are often wrong; speakers are not identified. Do not cite it as authoritative — verify against the audio and the finding aid.

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I'm Secretary Shultz, sir.
Yeah.
You are.
Yeah.
Morning, Mr. President.
Uh, Justice, I'll just take a second, George, because Pete Flanagan can fill you in.
I want to tell you that I've asked him to talk to you about
his situation with regard to the votes in the World Bank, where McNamara is taking the position of making loans to Chile, to Iraq, to India after they just kicked us around, she has, and so forth and so on.
I'm totally against all of those, and I just want you to know that I expect the Treasury Department, whoever you have, to take that line unless I give other instructions.
In other words, the United States is to oppose loans to any country that expropriates.
It is to oppose loans to any country that has kicked us around, as Mrs. Gandhi has.
Is that clear?
I'm just delighted to have that instruction.
That is the position we have been on.
Well, I thought so.
The State Department has been clawing at us, and we just say, no, we don't see any evidence here.
All right, when the State Department claws, I know that that's, I know John felt that way, and I know you, but I just want you to know.
I told John that at one time, but now I'm telling you, and Pete has also talked about the organization thing, and he will talk to you about that, about our setting up an executive committee.
Pete and Henry and I are talking here now.
But Pete will fill you in on the whole thing, and you work it out, okay?
Okay, sir.
Fine.
All right.
All right.

NARA Description

On June 26, 1972, President Richard M. Nixon and George P. Shultz talked on the telephone from 11:45 am to 11:47 am. The White House Telephone taping system captured this recording, which is known as Conversation 026-008 of the White House Tapes.

Nixon Library Finding Aid

Conversation No. 26-8

Date: June 26, 1972
Time: 11:45-11:47 am
Location: White House Telephone

The President talked with George P. Shultz.

[See Conversation No. 742-13B]

     World Bank loans to nations
         -Peter Flanigan
               -Forthcoming conversation with Shultz
         -Robert S. McNamara
               -Chile
               -Iraq
               -India
         -US policy
               -The President’s instructions
               -Treasury Department role
               -The President’s instructions
                     -Indira Ghandi
               -The President’s meeting with John B. Connally
                     -Flanigan and Henry A. Kissinger

Also recorded on June 26, 1972

  • 026-005 11:00 AM · 26 sec — President Richard M. Nixon and the White House operator talked on the telephone at an unknown time between 11:00 am and 11:45 am.
  • 026-006 11:00 AM · 27 sec — President Richard M. Nixon and the White House operator talked on the telephone at an unknown time between 11:00 am and 11:45 am.
  • 742-011 11:07 AM — President Richard M. Nixon, Henry Cabot Lodge, Charles W. Colson, and Henry A. Kissinger met in the Oval Office of the White House from 11:07 am to 11:30 am.
  • 742-012 11:31 AM — President Richard M. Nixon and Stephen B. Bull met in the Oval Office of the White House at 11:31 am.
  • 742-013 11:31 AM — President Richard M. Nixon, Peter M. Flanigan, Stephen B. Bull, White House operator, Henry A. Kissinger, George P. Shultz, and H. R. ("Bob") Haldeman met in the Oval Office of the White House from 11:31 am to 12:08 pm.
  • 026-009 11:47 AM · 5 sec — President Richard M. Nixon and the White House operator talked on the telephone at an unknown time between 11:47 am and 2:23 pm.
  • 742-014 12:08 PM — President Richard M. Nixon, H. R. ("Bob") Haldeman, Ronald L. Ziegler, and Stephen B. Bull met in the Oval Office of the White House from 12:08 pm to 12:18 pm.
  • 742-015 12:18 PM — President Richard M. Nixon, Stephen B. Bull, Gen. William Westmoreland, James R. Westmoreland, Margaret C. Westmoreland, Edwin R. van Deusen, Robert F. Froehlke, Lt. Col. James Shufelt, Gen. Bruce Palmer, [David] Kenneth Rush, H. R. ("Bob") Haldeman, and Joseph Felter met in the Oval Office of the White House from 12:18 pm to 12:31 pm.

All 32 conversations from June 26, 1972 →

Cite this conversation

Conversation 026-008, June 26, 1972. White House Tapes, Richard Nixon Presidential Library and Museum, National Archives. Audio and AI transcript via Easy Nixon, https://www.easynixon.org/tapes/026-008 (accessed September 30, 2026).