Nixon White House Tapes › Tape 272 › Conversation 272-004
Nixon & Shultz on International monetary policy and Economic crisis
Monday, August 9, 1971 · 1:48 PM–1:58 PM ET · Old Executive Office Building · 10 min
AI Summary
President Nixon and George P. Shultz met to discuss preparations for a forthcoming meeting, focusing on the current international monetary situation and the potential for a perceived economic crisis. The participants also addressed pending HEW legislation, specifically evaluating the political feasibility of sustaining a potential presidential veto in Congress. Additionally, the President requested a review of retail sales figures to better gauge the national economic outlook before their next high-level consultation.
- International monetary policy
- Economic crisis
- Presidential veto
- HEW legislation
- Retail sales
Audio
NARA Description
On August 9, 1971, President Richard M. Nixon, George P. Shultz, and unknown person(s) met in the President's office in the Old Executive Office Building from 1:48 pm to 1:58 pm. The Old Executive Office Building taping system captured this recording, which is known as Conversation 272-004 of the White House Tapes.
Nixon Library Finding Aid
Conversation No. 272-004
Date: August 9, 1971
Time: 1:48 pm - 1:58 pm
Location: Executive Office Building
The President talked with George P. Shultz.
President's schedule
-Forthcoming meeting
An unknown person entered at an unknown time between 1:48 pm and 1:58 pm.
Unknown activity
The unknown person left at an unknown time between 1:48 pm and 1:58 pm.
International monetary situation
-Status
-John B. Connally
-Texas
-Pressure for action
-Perception of crisis
-Paul A. Volcker
Pending legislation
-Possible vetoes
-Department of Health, Education and Welfare [HEW]
-Sustaining vote in Congress
-Chance
-Unknown person
-Political support
-Forthcoming meeting
National economy
-Retail sales
-President's scheduleTranscript (AI-generated)
This transcript is incomplete. The transcription skipped stretches of speech — roughly 3 minutes of this recording (about 27% of it) is represented by only a few words. Listen to the audio rather than relying on the text below; a corrected transcript is queued.
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 Do not cite it as authoritative — verify against the audio and the finding aid.
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Also recorded on August 9, 1971
- 272-001 12:55 PM · 4 sec — President Richard M. Nixon and Manolo Sanchez met in the President's office in the Old Executive Office Building at an unknown time between 12:55 pm and 1:48 pm.
- 272-002 12:55 PM · 1 min — President Richard M. Nixon and unknown person(s) met in the President's office in the Old Executive Office Building at an unknown time between 12:55 pm and 1:48 pm.
- 272-003 12:55 PM · 8 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 12:55 pm and 1:48 pm.
- 272-005 1:58 PM · 19 sec — President Richard M. Nixon and H. R. ("Bob") Haldeman met in the President's office in the Old Executive Office Building at an unknown time between 1:58 pm and 2:01 pm.
- 272-006 2:01 PM · 14 sec — President Richard M. Nixon and Alexander P. Butterfield met in the President's office in the Old Executive Office Building from 2:01 pm to 2:02 pm.
- 272-007 2:02 PM · 40 sec — President Richard M. Nixon and Manolo Sanchez met in the President's office in the Old Executive Office Building at an unknown time between 2:02 pm and 2:15 pm.
- 272-008 2:02 PM · 7 min — President Richard M. Nixon and Rose Mary Woods met in the President's office in the Old Executive Office Building at an unknown time between 2:02 pm and 2:15 pm.
- 272-009 2:15 PM · 44 min — President Richard M. Nixon, Stephen B. Bull, John B. Connally, Manolo Sanchez, and H. R. ("Bob") Haldeman met in the President's office in the Old Executive Office Building from 2:15 pm to 2:55 pm.
Related conversations
- Nixon, Metcalf & Batten on Economy and Retail Sales December 2, 1971 · 32 min
- Nixon phone call with Connally on Dollar devaluation May 9, 1971 · 11 min
- Nixon phone call with Colson on Arthur Burns and Economic Policy July 28, 1971 · 8 min
- Nixon phone call with Colson on Economic policy and Retail sales August 10, 1971 · 2 min
- Nixon phone call with Colson on Economy and Stock Market March 30, 1972 · 12 min
- Nixon phone call with Buchanan on Economic Indicators and GNP April 15, 1971 · 3 min
Cite this conversation
Conversation 272-004, August 9, 1971. White House Tapes, Richard Nixon Presidential Library and Museum, National Archives (NAID 417184109). Audio and AI transcript via Easy Nixon, https://www.easynixon.org/tapes/272-004 (accessed November 2, 2026).