Nixon White House Tapes › Tape 74 › Conversation 074-001
Nixon, Council on International Trade and Investment Policy & Connally
Monday, September 13, 1971 · 2:58 PM–3:45 PM ET · Cabinet Room · 39 min
Audio
This clip was extracted from the full tape recording by Easy Nixon.
Listen to the full tape segment
part A, 4:27
074a.mp3
074b.mp3
NARA Description
On September 13, 1971, President Richard M. Nixon and the Commission on International Trade and Investment Policy, including John B. Connally, Maurice H. Stans, William P. Rogers, Peter M. Flanigan, Peter G. Peterson, Richard V. ("Dick") Allen, Albert L. Williams, Dr. Isaiah Frank, James H. Binger, Fred J. Borch, Dr. Courtney C. Brown, Gaylord Freeman, Richard N. Gardner, Dr. Antonie T. Knoppers, Dr. Stewart M. Lee, Edmund W. Littlefield, Charles F. Myers, Jr., Dr. Max Myers, Kenneth N. Naden, Alfred C. Neal, William R. Pearce, Dr. Dan Throop Smith, Leroy D. Stinebower, and George A. Stinson, met in the Cabinet Room of the White House at an unknown time between 2:58 pm and 3:45 pm. The Cabinet Room taping system captured this recording, which is known as Conversation 074-001 of the White House Tapes.
Nixon Library Finding Aid
Conversation No. 74-1
Date: September 13, 1971
Time: Unknown after 2:58 pm until 3:45 pm
Location: Cabinet Room
John B. Connally met with Maurice H. Stans, William P. Rogers, Peter M. Flanigan, Peter G.
Peterson, Richard V. (“Dick”) Allen, Albert L. Williams, Dr. Isaiah Frank, James H. Binger,
Fred J. Borch, Dr. Courtney C. Brown, Gaylord Freeman, Richard N. Gardner, Dr. Antonie T.
Knoppers, Dr. Stewart M. Lee, Edmund W. Littlefield, Charles F. Myers, Jr., Dr. Max Myers,
Kenneth N. Naden, Alfred C. Neal, William R. Pearce, Dr. Dan Throop Smith, Leroy D.
Stinebower, and George A. Stinson
[General conversation/Unintelligible]
The President entered at 3:07 pm
Williams Commission members
-Knoppers
-Lee
-Brown
-C. F. Myers
-Stinson
-Neal
-Littlefield
-Smith
-Freeman
-Gardner
-Binger
-M. Myers
-Stinebower
[General conversation/Unintelligible]
Economics
-Williams Commission on International Trade and Investment Policy
-General contributions
-Appreciation
-Freeze on wages
-Release of report
-Commission’s work
-Timing of report
-Commission members
-The President’s 1969 speechShow the rest of the log (158 more lines)
-World economic interdependence
-Investment
-Production
-Employment
-Trade
-Study conclusions
-Report recommendations
-Interdependence of factors
-Timing of study
-August 15, 1971 speech by the President
-Support for the President
-Congress
-US public
-Report
-Revision
-Import surcharge
-Export subsidy
-Representation of majority
-Labor members
-Events between May and August 15, 1971
-Monetary policy
-Moderation of inflation
-Productivity increase
-Exchange rate
-Economic conditions
-Exchange rates, monetary barriers, US inflation
-Public views
-Exchange rates
-Japanese yen, German mark, European currencies
-Inflationary spiral in the US
-US allies in post-World War II period
-Germans
-French
-British
-Asia
-Japan
-Steel production
-1950 and 1971 competition
-New conditions for US
-Revitalized Europe, Great Britain
-Japan
-Quotas and surcharges
-World market conditions
-US focus in the future
-US production increase
-US export surplus in post-World War II period
-Recent world developments
-Western Europe
-1970s
-US need for new economic policies
-Interest and dividends on foreign investments
-International accounts
-Increasing world competitiveness
-US ability to compete long term
-Steel industry
-US competitive position
-Service and quality standards
-Dependence on foreign steel
-Technological superiority
-President’s reinstitution of investment credit
-Steel merger
-Re-establishment of US competitiveness
-Research
-Investment tax credit
-Sources for revenue
-Upgrading of US plant
-Capitol investments
-Research and development
-US long-term outlook
-Investment
-Other countries compared to US
-Department of Treasury’s role
-Congress
-Permanency
-Taxes
-Capital income versus other forms of income
-Surcharge
-General Agreement on Tariffs and Trade [GATT]
-Credit
-Tax depreciation
-Investment of credit
-Legislative processes
-William Proxmire’s views
-Welfare payments
-Social Security
-Profits and savings
-Tax action
-Aids to business
-Public view
-Automobile excise tax
-Investment tax credit
-Business
-Jobs and production
-Competitive prices
-Inflation
-Surtax
-Value-added tax [VAT]
-US competitive position in world
-Continuance of trade
-National Steel Company merger
-Legal opposition
-Commerce Department stance
-Antitrust laws
-Cartel approach
-Monopoly
-Concept of united Europe as unit
-Projected United Kingdom entry into the European Economic
Community [EEC]
-Competition with US
-Japanese people and government
-Government-run industries
-Trading company tradition
-Movement as unit
-Totalitarian countries
-US examination
-Antitrust policies
-Tax laws
-Labor policies
-US role in the world
-Movement ahead
-Compared with sports
-Unnamed man
-Track and field events
-Paavo Nurmi
-Speed
-Lack of competition
-Running against the clock analogy
-Roger Bannister
-Quotation from former Senator Eugene D. Milliken
-Future competition
-United Europe
-Japan
-The People’s Republic of China [PRC], Latin America
-US reaction to challenge
-Exchange rate issue
-Concern with US
-Effect of competition
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Japan
[To listen to the segment (21s) declassified on 02/28/2002, please refer to RC# E-555.]
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US goals and attitude in the future
Secretary of State
Member of Commission
[General conversation/Unintelligible]
Recording was cut off at 3:45 pmTranscript (AI-generated)
No transcript is available yet for this conversation.
Also recorded on September 13, 1971
- 073-006 10:42 AM · 3 min — unknown person(s) met in the Cabinet Room of the White House at an unknown time between 10:42 am and 3:07 pm.
- 570-012 10:42 AM · 53 sec — President Richard M. Nixon and Alexander P. Butterfield met in the Oval Office of the White House from 10:42 am to 10:44 am.
- 571-001 12:37 PM · 1 hr 33 min — President Richard M. Nixon, Stephen B. Bull, Robert J. Dole, Alexander M. Haig, Jr., White House photographer, H. R. ("Bob") Haldeman, unknown person(s), Manolo Sanchez, Alexander P. Butterfield, John B. Connally, White House operator, and Nelson A. Rockefeller met in the Oval Office of the White House at an unknown time between 12:37 pm and 2:58 pm.
- 008-111 1:15 PM · 1 min — President Richard M. Nixon and John B. Connally talked on the telephone from 1:15 pm to 1:16 pm.
- 008-112 1:16 PM · 6 sec — President Richard M. Nixon and the White House operator talked on the telephone at an unknown time between 1:16 pm and 1:31 pm.
- 008-113 1:31 PM · 7 min — President Richard M. Nixon and Nelson A. Rockefeller talked on the telephone from 1:31 pm to 1:38 pm.
- 008-114 1:38 PM · 8 sec — President Richard M. Nixon and the White House operator talked on the telephone at an unknown time between 1:38 pm and 7:43 pm.
- 008-115 7:43 PM · 4 min — President Richard M. Nixon, H. R. ("Bob") Haldeman, and John D. Ehrlichman talked on the telephone from 7:43 pm to 7:47 pm.
Cite this conversation
Conversation 074-001, September 13, 1971. White House Tapes, Richard Nixon Presidential Library and Museum, National Archives. Audio and AI transcript via Easy Nixon, https://www.easynixon.org/tapes/074-001 (accessed November 2, 2026).