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Conversation 274-005

TapeTape 274StartMonday, August 16, 1971 at 2:40 PMEndMonday, August 16, 1971 at 2:43 PMTape start time00:05:35Tape end time00:08:51ParticipantsNixon, Richard M. (President);  Ehrlichman, John D.Recording deviceOld Executive Office Building
AI Summary

President Nixon and John Ehrlichman reviewed the positive initial public and market reactions to the President's August 15 economic address. They discussed the significant surge in stock market volume and emphasized the need to maintain public confidence following the announcement. Additionally, Nixon praised Treasury Secretary John Connally's effective and firm performance during recent press briefings regarding the new economic policies.

Economic PolicyStock MarketJohn B. ConnallyPublic RelationsNixon Economic Program
AudioNARA Description

On August 16, 1971, President Richard M. Nixon and John D. Ehrlichman met in the President's office in the Old Executive Office Building from 2:40 pm to 2:43 pm. The Old Executive Office Building taping system captured this recording, which is known as Conversation 274-005 of the White House Tapes.

Nixon Library Finding Aid
Conversation No. 274-5

Date: August 16, 1971
Time: 2:40 pm - 2:43 pm
Location: Executive Office Building

The President talked with John D. Ehrlichman.

     Economy
         -President’s address to the National, “The Challenge of Peace”, August 15, 1971
               -Reaction
                    -Stock market
                          -Volume
                    -Timing
                    -Confidence builder
                    -Shock value
                    -Confidence
                    -Stock market
               -Forthcoming State Department briefing
               -Press conference
                    -John B. Connally
                          -Performance
               -Cabinet meeting, August 16, 1971
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 Do not cite this transcript as authoritative.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.

Sorry, I had quite a day the other night.
Hanging around 31 before each other.
In terms of the summer day, of course, it will not be the biggest day due to the value, but in terms of summer value, it's going to be probably double almost any summer day in the year.
That's good.
It'll shake sometimes.
And, you know, we're going to deal with it.
We're going to deal with it.
But all the general reaction, I think, is better than we expected.
Better than we expected.
Right.
And it may be a confidence that that's what we need to be talking about, you know.
this first market that may that may let it ride a second yeah okay i'll turn it over to him
He says, well, I thought I ought to go over and give him a little shout in the air.
And I don't want to come at him to work.
He's terribly tired.
And I just told him to wipe it up and not to let somebody else move the back part.
So they say he did a hell of a job on the press conference.
I like the way he cuts them off.
No, yes.
He cuts them off, but he doesn't do it meanly.
That's what I mean.
He cuts them off.
No, yes.
And he smiles the next time.
Great, great, sure.
We'll reserve a little more.
But you know, really, we were in the chemical department.
Oh, how did that go?
Tell me about that.
Good, good, good.
That's great.
Great, great, great.
Okay, John, thank you.
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