Nixon White House Tapes › Tape 248 › Conversation 248-018

Nixon & Buchanan on Economic policy and Minority enterprise

Wednesday, April 14, 1971 · 5:26 PM–5:29 PM ET · Old Executive Office Building · 3 min

ParticipantsNixon, Richard M. (President); Buchanan, Patrick J.Conversation248-018 on Tape 248 (tape position 01:12:38–01:15:42)StartWednesday, April 14, 1971 at 5:26 PMEndWednesday, April 14, 1971 at 5:29 PMRecording deviceOld Executive Office BuildingSourceNixon Library record for 248-018 ↗

AI Summary

President Nixon directed Patrick Buchanan to compile dramatic, high-impact data points to bolster the administration's messaging on minority enterprise, steel industry competitiveness, and economic recovery. Nixon requested specific, positive statistics on housing starts, retail and automobile sales, and stock market performance to illustrate public confidence. The President tasked Buchanan with coordinating with advisors George Shultz and Paul McCracken to finalize these talking points for upcoming public use.

Audio

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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 Do not cite it as authoritative — verify against the audio and the finding aid.

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Yeah.
Pat, I had a couple things that would, this minority enterprise thing, I had told that Congress should get me like some more, get about three or four dramatic figures like there were 12 car franchises when we came in, now there's 75.
You've got about three different things that buy a hot dog stand out of 500.
You see what I mean?
Now, yeah, just take three or four that I can drop in.
Second point, on the steel thing, I'd like to get some rather dramatic figures about the, our competitive position.
I mean, just like, that our foreign markets, foreign, you know what I mean?
That's no less so, but I want to show how
that the American steel industry can price itself up on the market.
That's that.
Now, the third thing.
On the economy, I think we could get some better pictures down there.
Here's what I want.
I want to say, for example, there are some very good pictures on, you could say, retail sales, automobile sales, housing stocks,
and get me a number like 5%, 10%, put it in the automobile sales, retail sales, housing starts, the interest rates you've got in here, of course.
But what we need is about Schultz.
Try old Schultz and McCracken and see what those will come up with.
In other words, about five strong points that I can mention regarding the economy when we show that we're not young.
And, of course, you can lose the stock market as well.
I mean, I think we're the most bull market in history.
The number of shares that David is the biggest shareholder.
the latest stock market.
For example, the greatest first quarter in the history of the stock market after the shares.
And also, it's gaining the stock market.
And that, of course, affects 27 million people.
But more, it's also an indication of things of confidence, an indication of confidence.
People do not buy unless they expect the market to go down.
And those things.
Okay.
Marker.

NARA Description

On April 14, 1971, President Richard M. Nixon and Patrick J. Buchanan met in the President's office in the Old Executive Office Building from 5:26 pm to 5:29 pm. The Old Executive Office Building taping system captured this recording, which is known as Conversation 248-018 of the White House Tapes.

Nixon Library Finding Aid

Conversation No. 248-18

Date: April 14, 1971

Time: 5:26 pm - 5:29 pm
Location: Executive Office Building

The President talked with Patrick J. Buchanan

[See Conversation No. 42-40]

Also recorded on April 14, 1971

  • 248-016 4:20 PM · 47 min — President Richard M. Nixon, Henry A. Kissinger, and Ronald L. Ziegler met in the President's office in the Old Executive Office Building from 4:20 pm to 5:10 pm.
  • 042-038 4:33 PM · 3 min — President Richard M. Nixon and Ronald L. Ziegler talked on the telephone from 4:33 pm to 4:36 pm.
  • 042-039 5:10 PM · 3 sec — President Richard M. Nixon and the White House operator talked on the telephone at an unknown time between 5:10 pm and 5:26 pm.
  • 248-017 5:10 PM · 5 sec — President Richard M. Nixon and the White House operator met in the President's office in the Old Executive Office Building at an unknown time between 5:10 pm and 5:26 pm.
  • 042-040 5:26 PM · 3 min — President Richard M. Nixon and Patrick J. Buchanan talked on the telephone from 5:26 pm to 5:29 pm.
  • 248-019 5:29 PM · 12 sec — President Richard M. Nixon and Stephen B. Bull met in the President's office in the Old Executive Office Building at an unknown time between 5:29 pm and 5:40 pm.
  • 248-020 5:29 PM · 18 sec — President Richard M. Nixon and Stephen B. Bull met in the President's office in the Old Executive Office Building at an unknown time between 5:29 pm and 5:40 pm.
  • 248-021 5:40 PM · 36 min — President Richard M. Nixon, Robert J. Dole, and H. R. ("Bob") Haldeman met in the President's office in the Old Executive Office Building from 5:40 pm to 6:15 pm.

All 34 conversations from April 14, 1971 →

Cite this conversation

Conversation 248-018, April 14, 1971. White House Tapes, Richard Nixon Presidential Library and Museum, National Archives. Audio and AI transcript via Easy Nixon, https://www.easynixon.org/tapes/248-018 (accessed October 3, 2026).