Conversation: 112-002
Prev: 112-001 Next: 112-003Start Date: Monday, February 5, 1973 3:40 PM
End Date: Monday, February 5, 1973 4:08 PM
Participants:
Nixon, Richard M. (President); Pay Board and Price Commission; Rumsfeld, Donald H.; McLane, James W.; Boldt, George H.; Tiernan, Robert P.; Gordon, Kermit; Weber, Arnold R.; Caples, William G.; Grayson, C. Jackson ("Dan"), Jr. (Dr.); Lewis, William B.; Coleman, William T., Jr.; Hamilton, Mary T.; Lanzillotti, Robert F.; Queenan, John William; Newman, J. WilsonRecording Device: Cabinet Room
NARA Description:
On February 5, 1973, President Richard M. Nixon and the Pay Board and Price Commission, including Donald Rumsfeld, James W. McLane, George H. Boldt, Robert P. Tiernan, Kermit Gordon, Arnold R. Weber, William G. Caples, Dr. C. Jackson ("Dan") Grayson, Jr., William B. Lewis, William T. Coleman, Jr., Mary T. Hamilton, Robert F. Lanzillotti, John William Queenan, and J. Wilson Newman, met in the Cabinet Room of the White House from 10:40 am to 11:08 am. The Cabinet Room taping system captured this recording, which is known as Conversation 112-002 of the White House Tapes.
Nixon Library Finding Aid:
Conversation No. 112-2
Date: February 5, 1973
Time: 10:40 am - 11:08 am
Location: Cabinet Room
The President met with Donald H. Rumsfeld, James W. McLane, George H. Boldt, Robert P.
Tiernan, Kermit Gordon, Arnold R. Weber, William G. Caples, Dr. C. Jackson (“Dan”) Grayson,
Jr., William B. Lewis, William T. Coleman, Jr., Mary T. Hamilton, Robert F. Lanzillotti, John
William Queenan, and J. Wilson Newman
[Recording begins while the conversation is in progress]
Economic Stabilization Program
-Pay Board and Price Commission
-Boldt
-Grayson
-Phase II
-Effects
-Cooperation
-Consumer Price Index [CPI]
-Increases
-Compared to Wage-Price Index
-Commodities
-Food
-Bureaucracy
-Size
-Unemployment
-Decrease
-Effect on national economy
-Growth
[Unintelligible -- Camera noise]
Phase II
-Transition
-Wage and price controls
Pay Board and Price Commission
-Appreciation of board members
-Weber, Hamilton
-Members’ service
-Effort
3
NIXON PRESIDENTIAL MATERIALS STAFF
Tape Subject Log
(rev. 10/08)
-Board and staff members
-Future
-Members’ service
-Future
-Inflation control
Economic Stabilization Program
-Phase III
-William McChesney Martin
-Arthur F. Burns
-Business community
-Compared to Phase II
-Stock market
-Future
-Washington Star
-Hobart Rowen
-Columns
-Vietnam
-International monetary situation
-Stock market
-Agriculture subsidies
-Agricultural lobby
-Phase I and Phase II
-World food situation
-Soviet Union
-Crop failure
-Japan
-United States
-Effect of new world markets
-Surpluses
-World food prices
******************************************************************************
World markets
Energy crisis
[To listen to the segment (1m47s) declassified on 02/28/2002, please refer to RC# E-606.]
******************************************************************************
4
NIXON PRESIDENTIAL MATERIALS STAFF
Tape Subject Log
(rev. 10/08)
-Energy crisis
-George P. Shultz’s report in 1970
-Oil imports
-Decontrol
-Complaints
-Alaska Pipeline
-World demand
-Industrialization
-Nuclear power
-Phase II
-Demand
-Increases in food prices
-Church-state separation
-Seventh Day Adventists
-Food
-Mary Baker Eddy
-Health
-Abortion
-Appreciation
-Media comment
-Accomplishments
-Pay Board and Price Commission
-Return to Phase I
-Future
-Super Bowl/Billy Kilmer
-Standard of living
-Private sector role
******************************************************************************
Great Britain and the Common Market
[To listen to the segment (1m33s) declassified on 02/28/2002, please refer to RC# E-606.]
******************************************************************************
-Phase II
-American Labor
5
NIXON PRESIDENTIAL MATERIALS STAFF
Tape Subject Log
(rev. 10/08)
-Cooperation of business, consumers, and labor
-World War II
-Edward R. G. Heath
-Future
-Differing interests
-Inflation
-Inflation
-Phase III
-Market forces
-Martin’s predictions
-Food
-Importance
-Wage increases
Presentation of gifts by the President
-Ashtrays
-President’s appreciation
-President’s responsibility for next phase
The President left at 11:08 am
[General conversation/Unintelligible]
Recording ends at an unknown time after 11:08 am