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Conversation 011-003

TapeTape 11StartThursday, October 7, 1971 at 5:49 PMEndThursday, October 7, 1971 at 5:50 PMTape start time00:00:57Tape end time00:02:29ParticipantsNixon, Richard M. (President);  Safire, William L.Recording deviceWhite House Telephone
AI Summary

President Nixon and speechwriter William Safire consult on the specific language for an upcoming economic address, focusing on the historical significance of a decline in industrial prices. Nixon insists on characterizing the drop as a seven-year first to maximize the rhetorical impact, explicitly instructing Safire to omit technical caveats like seasonal adjustments. Additionally, they discuss the inclusion of a short passage requested by Donald Rumsfeld, with Nixon agreeing to incorporate a brief five-word mention to satisfy Rumsfeld’s concerns.

Economic policySpeechwritingIndustrial pricesDonald RumsfeldRhetoricWholesale prices
AudioNARA Description

On October 7, 1971, President Richard M. Nixon and William L. Safire talked on the telephone from 5:49 pm to 5:50 pm. The White House Telephone taping system captured this recording, which is known as Conversation 011-003 of the White House Tapes.

Nixon Library Finding Aid
Conversation No. 11-3

Date: October 7, 1971
Time: 5:49 pm - 5:50 pm
Location: White House Telephone

The President talked with William L. Safire.

[See Conversation No. 286-6B]

     William L. Safire
                                              2

                          NIXON PRESIDENTIAL MATERIALS STAFF

                                      Tape Subject Log
                                        (rev. 10/06)




     Text of speech for October 7, 1971
          -Industrial prices
                -Wholesale prices
          -Donald H. Rumsfeld
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 Do not cite this transcript as authoritative.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.

Bill, I'm just checking back again to be sure we're correct on that.
This is the first time in seven years that industrial prices have declined.
That's what it says here.
That's right.
Declined.
They've never gone down in seven years, or is it the biggest decline in seven years?
See, the wholesale prices is the biggest decline in five years, and that I can buy.
But what this says now is this is the first time in seven years that industrial prices have declined.
Right.
It's the first time in three and a half years that industrial prices have declined on an unadjusted basis.
I don't give a damn about unadjusted because we'll call it declined.
Okay.
I'll double check it again.
Well, I'm going to leave it at seven years.
Right.
Leave it the way it is.
And then if it turns out that I'm wrong, I'll call it a big flop.
Seven?
It's seven years.
That's in the text, isn't it?
Yes.
Seasonally adjusted.
I didn't put seasonally adjusted.
Well, I don't think you need to.
You don't.
You don't because that's good.
I didn't make a difference to everybody.
You just say, of course, that's what we always talk about.
Okay.
One other thing.
Yeah.
Don Rumsfeld is anxious to get... Yeah, I got that and I'm putting it in.
You are putting it in?
Yeah, if they want it.
Yeah.
You think there's a problem with that?
Uh...
No problem with it.
It means a lot to him.
That's the whole point.
Well, he's given me a... No, no.
I don't want his line.
I know.
I haven't got 40, 50 words.
I've put it in five.
Okay.
Okay.
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