Nixon White House Tapes › Tape 274 › Conversation 274-034

Nixon, Price & Ehrlichman on Economic Policy and Speechwriting

Wednesday, September 8, 1971 · 1:34 PM–3:03 PM ET · Old Executive Office Building · 44 min

ParticipantsNixon, Richard M. (President); Price, Raymond K., Jr.; Sanchez, Manolo; Ehrlichman, John D.; [Unknown person(s)]; Bull, Stephen B.; Butterfield, Alexander P.Conversation274-034 on Tape 274 (tape position 02:20:47–03:04:38)StartWednesday, September 8, 1971 at 1:34 PMEndWednesday, September 8, 1971 at 3:03 PMRecording deviceOld Executive Office BuildingSourceNixon Library record for 274-034 ↗

President Nixon met with Raymond K. Price, Jr. and John D. Ehrlichman to finalize his upcoming economic address to Congress. The participants reviewed and revised multiple drafts of the speech, focusing on the tone toward congressional Democrats and the strategic presentation of tax and spending policies. Nixon emphasized the need for bipartisan cooperation and specific wording regarding the legislative agenda, while also discussing logistical arrangements for the event and upcoming official functions with Alexander P. Butterfield.

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Position in tape: 02:20:47 – 03:04:38

part B, 18:26

274a.mp3
274b.mp3
274c.mp3

On September 8, 1971, President Richard M. Nixon, Raymond K. Price, Jr., Manolo Sanchez, John D. Ehrlichman, unknown person(s), Stephen B. Bull, and Alexander P. Butterfield met in the President's office in the Old Executive Office Building at an unknown time between 1:34 pm and 3:03 pm. The Old Executive Office Building taping system captured this recording, which is known as Conversation 274-034 of the White House Tapes.

Conversation No. 274-34

Date: September 8, 1971
Time: 1:34 pm - unknown before 3:03 pm
Location: Executive Office Building

The President met with Raymond K. Price, Jr.

     President’s address to Congress on economic stabilization, September 9, 1971
          -George P. Shultz
                -Talk with Price
                -Meetings with the President
                -John B. Connally
          -Phase II
                -Meetings
                      -Business
                      -Labor
                      -Farmers
                      -Congress
          -Paragraph re-write
          -Wording
          -John D. Ehrlichman
          -Price's memorandum
                -Tax cuts
                -Research
          -Ehrlichman
          -Tax cuts
                -Shultz
                -Connally
          -Congress
          -The President's reading of draft

Manolo Sanchez entered at an unknown time after 1:34 pm.

     Economic speech
         -Sanchez
               -Delivery of retyped pages

Sanchez left at an unknown time before 1:46 pm.

The President talked with Ehrlichman between 1:46 pm and 1:47 pm.

[Conversation No. 274-34A]
[See Conversation No. 8-49]
Show the rest of the log (175 more lines)
     Economic speech
         -The President's talk with Price
         -Research
         -Taxes
               -Shultz

[End of telephone conversation]

Sanchez entered at an unknown time after 1:47 pm.

     Delivery of retyped pages of the President's economic speech

Sanchez left at an unknown time before 2:24 pm.

     Economic speech
         -The President's reading of draft
         -Price's suggestions
         -Wording
               -Woodrow Wilson
               -Franklin D. Roosevelt

Sanchez entered at an unknown time after 1:47 pm.

     Delivery of page 4 of economic speech

Sanchez left at an unknown time before 2:24 pm.

     Economic speech
         -Page 4
               -The President's reading of draft
               -Wording
         -Democrats in Congress
               -Acceptance
         -Page 5
         -Congress

Sanchez entered at an unknown time after 1:47 pm.

     Economic speech
         -Page 5

Sanchez left at an unknown time before 2:24 pm.

     Economic speech
         -Michael J. Mansfield
         -Wilbur D. Mills
         -Bipartisan leadership meeting
               -Russell Long

Sanchez entered at an unknown time after 1:47 pm.

     Delivery of page 5 of economic speech

     Pipe and matches

Sanchez left at an unknown time before 2:24 pm.

**********************************************************************

BEGIN WITHDRAWN ITEM NO. 1
[Personal Returnable]
[Duration: 2m 4s ]

END WITHDRAWN ITEM NO. 1

**********************************************************************

     Economic speech
         -Tax cuts
         -Page 6
         -Wording
         -The President's reading of draft
               -Edmund S. Muskie and Long
         -Price's suggestions on wording
               -Cost of living

                -Tax cut language
                -Federal budget

An unknown person entered at an unknown time after 1:47 pm.

     Shultz
The unknown person left at an unknown time before 2:24 pm.

     Economic speech
         -Page 7
               -Price's material
         -Page 8
               -Wording

Stephen B. Bull entered at an unknown time after 1:47 pm.

     Page 9 of economic speech

Bull left at an unknown time before 2:24 pm.

     Economic speech
         -Wording
               -Inflation
         -The President's reading of draft
               -Technology
               -Congress
                     -Welfare reform
                     -Revenue sharing
                     -Welfare
                          -Funding
                                -Postponements
         -Page 16

Sanchez entered at an unknown time after 1:47 pm.

     Economic speech
         -Delivery of draft
               -Request

Sanchez left at an unknown time before 2:24 pm.

     Economic speech
         -The President's reading of draft
               -Competition
               -Health, housing, education, environment, opportunity
         -Page 9
               -Tax reform
                     -Employment
                     -Goals
         -Meeting language
         -Copy
         -Meeting
         -Earlier draft
               -Credit
         -Wording
               -Credit
               -Peace
               -Credit
               -Congress

Alexander P. Butterfield entered at 2:24 pm.

Price left at 2:24 pm.

     President’s schedule
          -George E. Allen

           -Japanese dinner
                -Speech
                      -Questions
           -Takeo Fukuda meeting
                -Time
                -Location
                      -Yellow Room
                -Guests
                      -Peter G. Peterson
                      -William P. Rogers
                      -Wives
                      -Vice President Spiro T. Agnew and Elinor I. (Judefind) Agnew
                -Press
                -Toast
                -Cabinet members

                      -George P. Shultz
                      -Peterson
                      -George W. Romney
                 -Photograph opportunity
                 -Henry A. Kissinger
                 -Fukuda
                 -Alexander M. Haig, Jr.
           -White House worship service, September 12, 1971
                 -Guests
                      -William F. (“Billy”) Graham’s family
                      -Soloist
           -Paul Yu Pin
                 -Taiwan
                 -John Cardinal Krol

Butterfield left at an unknown time before 3:03 pm.

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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Give these two to him, too.
That'll be too pricey to come to the E.O.D.
Yes, yes, get one of those.
Yeah.
I'm having several things to type, so do bring over an extra copy.
Okay.
Yeah.
Hello?
Yeah, any time.
Hi.
Uh, what do you mean, bad?
I don't know.

— 1 min 7 s with no transcribed speech —

Most of the questions that we have unresolved are so few that you can find together that you get the shows to find out about them together.
What do you want to say on that?
I've heard people like, you know, they have these five meetings where they want to have, that's a good lead, but they need to be ready to do it.
The main thing is, I don't want to go along on that dissertation about what they would watch, what the high city would watch.
He's got to handle all the sin.
We've just got to get the lid off the little people.
Because I have a chance.
We want to have meetings with businesses, with the labor, with the farmers, with the farmers.
But I have done it.
They started the messages going out.
I don't know whether they like it or not, but this is going out.
Peter Burton said it before.
He's got it.
Well, you're working on that.
You'll work that paragraph.
This is what I've worked on.
Let me say that I'm not concerned about this kind of division.
I'll make the best of my time.
I'm sorry.
I recommend you all understand.
I don't really care much about that line.
It just depends on what grade it is.
The kid is now fast.
What's the matter?
Let me just run out of time.
Now, your copy here, I went through it.
I didn't have my old copy.
I do small little things.
It may be changed if you're accurate.
If you go to the page where I asked the conference to do 500 jobs,
I just tried to get her a piece of the mess, but...
uh i know it's your camaraderie regardless of the mechanics of the other matters but i feel very strong i know i've been through the research and i think it fits nicely
I don't know if John said it, but why didn't they lift the curtain?
I don't know if John said it, but why didn't they lift it?
I don't know if John said it, but why didn't they lift it?
I've made a couple of changes on that.
On the tax front.
Their shelter does not say that at all.
But aren't we going to have to do some tax reform that's just inevitable or what?
Who do you think it is?
I don't know.
I don't know.
I don't know.
I don't know.
In other words, I think it's very important that that be also written down.
I think we're good.
But this has been changed.
In the next session of Congress, I shall present to the folks who will be there in the back.
And I'm glad to honor that now.
Thank you.
I look forward to working with the Congress and achieving these goals.
I'm trying to be as considerate as possible.
We have Americans that are going to be here in the next 12 years.
In America, that would include the U.S. policy.
I don't know.
Disparity in the system.
I don't know.
I don't know.
Disparity in the system.
Correcting what is wrong.
Correcting what is wrong.
Correcting what is wrong.
Correcting what is wrong.
Would you bring in what she has done?
This fits out of the park.
I mean, I actually, this fits out of the park.
The rehash, which is concerning about the whole thing.
It would be very difficult to reach that.
I mean, I'm just not going to be able to ask you to do that.
I'm going to say, oh, I'm going to have a follow-up program on it.
That's going to be very much of an effect.
What really...
Matters are two things here, whether they believe for me, or whether it's a matter of the American spirit, whether it's from our work, or whether it's a matter of the American spirit, or whether it's a matter of the American spirit.
John.
All right.
Ray.
No, no, I was talking to Ray.
I'm sorry.
John, I was just talking to Ray, and he has already talked to you about this, and we're working on some more of it.
But as it is now, I think listening to just a little on this is rather essential in this future.
We've got a little bit of something to do.
And I think particularly the part of research, and then in that, it fits in with the boondocks that are going to be there through a block.
It fits in.
It doesn't bother you now, huh?
No.
And how about the tax thing?
The tax thing bothers George, but I guess George is a Jewish exception.
Well, anyway.
All right, fine, fine.
Okay.
What was that?
If you will take page one, I believe you've got it.
It seems to me that it's sort of a hard job.
Rather than the good end, rather than the half-assed way of our time, I appreciate you coming.
It's a joint session to ask the Congress to join in our equal lunch and achieve
Thank you.
I think it's
First you start out with a positive thing, and then I really start to reason, try to reason the truth.
And then I come down to the never had this, and that's not better.
Do you have a suggestion that you need to cut?
Just one second.
Do you think this is another case where you're... No, no, no, no.
No, no, no.
You just said I have to be with the giant achievement.
Who asked the cooperation of the Congress to achieve it?
Who asked the cooperation of the Congress to achieve it?
Do you think any part of that is enough?
I kind of like that business with the President.
I mean, he fought in Congress for war, and now we come for peace.
You know, you think of Wilson.
You know, he came to work in Congress several times, and first with Roosevelt.
And I think Roosevelt was, I don't know how clear he came to special sessions.
for economic policy.
I'm sure .
You don't think so, but I don't want to look into it.
But I do think that it makes a point that if it doesn't exist, then of course .
You're a guy that really catches things.
You do?
Alright.
Well, I'd like to bear with you for a couple of moments here.
You think it fits well there?
Good.
Alright.
Well, I think that's a beginning for the market.
Now we're good.
Now we're good.
And she's a microbe.
One.
Two.
Three.
Four.
Five.
Six.
Seven.
Has she got page four?
I'll see if she's got page four, please.
I know, but I didn't re-type.
Did she re-type it?
Yes, sir.
Where is it?
Here it is.
On page four, the reaction of the American people to the culture, to the new economic policies that have been exhausted in the region, and the reaction of our trading partners abroad through the nation's construction.
I am confident that this conference will respond in a similar spirit as it has in so many other countries and many other great challenges in the past.
This is a time to set aside partnerships.
Let us join together in placing the national interests above special interests.
that feels a little better than it does, that I ask the Congress to work in San Francisco.
Or you'd rather urge the Congress to join San Francisco?
Well, I, I, I think it's appropriate.
I've played with it back and forth.
I don't know if it's going anywhere.
It could come to this because, uh, some of it settles.
But as it has, only so many have a great challenge going on.
Just saying, the New Republic is in check.
This is the time to set aside a part of the check.
So let's join together as a place in the National Army.
They're all part, they're all cheer lines.
I know what you're trying to do, but I think you don't.
It's the great problem of dealing with a basically partisan Democratic congressman in the last year, just as it would be better for a Democratic president to be a partisan Republican congressman.
We all know what they're going to do.
They're going to try to screw us, but why don't you say it that way?
It's a nice way, and it's the way you're doing it, too.
Okay.
Thank you.
I know what you're trying to do.
And I must say, I just feel I'm the guy that did it.
I know better than anybody else what they're up to.
And they know what I know.
But I don't think it's too damn inappropriate.
Well, let's face it, Mansfield was good, and Burdette, and those were good.
After my talks with him, my meeting with him,
the bipartisan leadership of the bipartisan, after my meeting with the bipartisan leadership in August, three weeks ago, I am confident that this conference will respond in the same spirit.
How will that be?
I wonder if you want to give more credibility to it?
You see, we had a damn good meeting with Walt Russell Law in my meeting with the bipartisan leadership of the White House in August, I suppose, three weeks ago.
No, I think not.
But you're great.
That's what I'm basing it on.
Oh, this has become very dry.
One for the other side.

— 2 min 12 s with no transcribed speech —

We've had sort of a major change in the tax company.
If you look at your page 4 and 6, we go down to the same.
This adjustment recognizes that there is no longer an admission time.
This makes the answer, the answer, the answer.
We examine our budget prospects at this time.
Any additional tax cuts, not all set by spending cuts, will be certain to start us again on a spiral of higher prospects.
It is confident in its tax and spending decisions, but that its highest priority is not tax cuts or spending increases, which benefit some of the people, but hold it down to cost of living for all people.
Marble is in the floor, where a tax lessening in the floor is the sure root of the price of higher income for all.
... ... ... ... ... ... ...
At this time, the way we have it, that's the way to compromise it.
I know I've been through it.
We can talk about the whole one in front of us.
It is hard, but... Any additional package numbers?
Not all set by spending comes from that big air of ours and our traditions and our time.
If it was a two-muskie air or a long and all the rest of them on a half-and-a-half plane, it would be certain to start us again on a spiral aircraft of this kind of expansion.
And we all put an entire spirit and passion into this kind of expansion.
It's a very sad sense, but it's a time where I already hold it down and thought it was a good moment.
I'd rather be back.
Uh, I'm just trying to sort out here because the last priority, we're, we're, we're, we're bringing it down to office.
I'm going to bring it down to office.
I'm going to bring it down to office.
I'm going to bring it down to office.
I'm going to bring it down to office.
I'm going to bring it down to office.
I'm going to bring it down to office.
I think the first is probably going to be the tax, and because they are a budget contract, that's better.
That's not bad.
I think that's fixed pretty well.
Why don't you take that and write a little more?
The way I'd like to say it, and I'm aware of how much I'd like to state that, but I know what I'm hearing is not the reality, but the reality is that if we consider the thing, as we're really saying, if we consider the federal budget today, maybe not the federal budget today, but the federal budget today,
I'll tell you.
I'll tell you.
You'll make fine.
The show's going to go on very well.
I have got a slug.
You go off into that line, then you take that page, and it's now page seven.
Here's where your stuff comes in about the follow-on thing, and I'll have to see that as an issue.
I don't know if that's going to work out.
I don't know whether or not it's necessarily stringent or aggressive, in other words.
And I'll pay a date.
What I've done, obviously, is pay a date.
I've cut out Americans a little bit, but they're only been on for three months, and I'm just going to get 300 to pay them.
I just start to prepare them.
Regimentation, government, coercion, and so on and so forth.
I got it.
I got it.
I got it.
I got it.
I got it.
I got it.
I got it.
I don't need your text.
Good.
And prosperity is a job for everyone.
uh
I'm just thinking of food and our needs here on Earth.
There are a lot of people who are going to need food and our needs here on Earth.
There are a lot of people who are going to need food and our needs here on Earth.
I think that there are a lot of people who are going to need food and our needs here on Earth.
I think that there are a lot of people who are going to need food and our needs here on Earth.
I go rather than eat some dessert.
I go to a five-year-old business on a campus.
You can't help it, but I think it should do you good.
I think it should do you good.
I don't want to leave America.
I'm actually used to America's technology.
I'm hanging out there alone.
I'm leaving because of the problems.
I guess leaving doesn't apply to a lot of people.
So that's what that is.
That is why I again urge the Congress to act in this session.
That's why I again urge the Congress to act in this session on the Massacre of the Great Rebellion.
That is why I again urge the Congress to act in this session on the Massacre of the Great Rebellion.
That is why I again urge the Congress to act in this session on the Massacre of the Great Rebellion.
They might try to take the excuse of saying, well, we gave these attacks for a month, so they can't act on them over a month.
They can't act on them over the year.
They can't act on them over the year.
Oh, they can't.
They can do it all.
The grief month.
That's the change they went through.
I mean, there's a lot of...
There's a lot of...
There's a lot of...
There's a lot of...
Despite the fact that, in other words, after you've gone, that is why we're here now.
And whether it's necessary or not, it has to be done.
It has to be done.
Yeah, first of all, this is funding for the program.
So, we're going to have to work to find out whether there's a tool that requires funding for the organization or not.
Well, better to say better.
I love better.
I love better.
I love better.
I love better.
I love better.
I love better.
I love better.
I love better.
It's difficult to get that to the ground.
We've been making great mistakes and so on and so forth.
Now, I'm trying to get it up again.
It has to be done.
And we're not a great team.
Yeah, if it is, just bring it back and I'll figure it out.
I think it's better.
I think it's better.
I think it's better.
I think it's better.
I think it's better.
I think it's better.
... ... ... ... ...
Stay number one.
Stay number one.
better health and education
Clean up the market, bring the dignity and security to the nation.
Provide a guarantee of equal opportunity for every man, all that he deserves.
Tax reform on page 9, tax reform on page 3 and so on.
That roach is starting to chirp on the max of its juice.
It's probably snagged bulls.
It's probably snagged bulls.
It's probably snagged bulls.
It's probably snagged bulls.
It's probably snagged bulls.
It's probably snagged bulls.
It's probably snagged bulls.
I think, though, you have to check with the squad now.
Yeah, and the meeting.
The meeting language you have to work out.
Pick anything you need.
Yeah, make one copy at the end, but don't bother with the clean copy because you'll get a shirt.
Uh, I don't think it's being comprehensive.
The meeting has to be written in person.
There's one line that I earlier grabbed.
It wasn't bad.
Remember, you're alive on credit.
You get some credit.
Yeah, that's right.
The idea would be sharing my love for you.
There's a, there will be a hell of a, and naturally is, argument.
Watch this.
All right, here's my good.
I'm going to have one of your boys read over the other copy to get the two credit lines and see if Peter will hear it again.
And there's probably a good place to put it.
You can just raise that.
There's a second one.
Very well, after you've put in your paragraph, at the end of your paragraph, you are now ready to proceed.
Remember, when it's bad, that could also go in high up in the air.
Right after those two sentences about the President coming forward asking for peace, he puts a paragraph in right there.
It would be very nice to see that.
Now I'm making the argument that the Southern American President called on us to challenge the war, to challenge the peace, to prevail.
Whoa!
I agree with you.
I agree.
Let's move it right along there.
Okay.
Okay.
Got it.
I don't think you know how.
I'm just going to tell you that live.
Live over the app.
Four.
Sir, I know you're tired of now speaking.
Do you have a moment?
I've got five or six questions I should give you.
Yeah, all right.
On this, uh, Japanese incident.
Yeah.
You bring that out.
The invasion was, uh, concluded at 715, so we probably won't want you to go a little older than 715, Chris.
... ... ... ... ... ...
You can't have them all.
Oh, no, no, no.
You want to have a private community, but then you should come up.
You can leave the delegation.
What is he?
What is he bringing?
He's bringing their lives.
He's bringing their lives.
Absolutely.
He's bringing their lives.
He should bring their lives.
Or they could come.
and actually, uh, be with us and have a, uh, uh, uh, uh, uh, uh, uh, uh,
That's a little long-handed, because I guess when I was going, the guy was in the back.
But, uh, that's kind of the line.
That's a little bit down.
That's a little bit down.
Thank you.
.
.
.
.
He told me it was very weak.
He said it was very weak, but it was great.
And I was like, yeah.
And I was supposed to respond.
He would.
He would.
He would.
And we started to talk to each other.
... ... ... ... ... ...
You know, they're very, they're very proper.
They don't have any rules or anything.
I don't know.
I don't know.
I don't know.
I don't know.
I don't know.
I don't know.
I don't know.
I think it's the best that I've ever seen.
I think it's the best that I've ever seen.
I think it's the best that I've ever seen.
but I want to talk to you about the church here in St. Lucie.
Well, they know that's why I brought a copy.
I think he should participate.
Well, I didn't think he was going to, so he submitted an answer for two minutes.
He took one.
He took one.
And he's been hated.
Well, I don't.
You know what I mean.
I almost can't.
All right.
  • 008-048 1:27 PM · 19 sec — President Richard M. Nixon and Raymond K. Price, Jr. talked on the telephone from 1:27 pm to 1:28 pm.
  • 274-032 1:27 PM · 34 sec — President Richard M. Nixon and Raymond K. Price, Jr. met in the President's office in the Old Executive Office Building from 1:27 pm to 1:28 pm.
  • 274-033 1:28 PM · 1 min — 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 1:28 pm and 1:34 pm.
  • 008-049 1:46 PM · 57 sec — President Richard M. Nixon and John D. Ehrlichman talked on the telephone from 1:46 pm to 1:47 pm.
  • 008-050 1:47 PM · 7 sec — President Richard M. Nixon and the White House operator talked on the telephone at an unknown time between 1:47 pm and 3:03 pm.
  • 274-035 2:24 PM · 58 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 2:24 pm and 3:03 pm.
  • 274-036 2:24 PM · 1 min — President Richard M. Nixon and Ronald L. Ziegler met in the President's office in the Old Executive Office Building at an unknown time between 2:24 pm and 3:03 pm.
  • 274-037 2:24 PM · 7 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 2:24 pm and 3:03 pm.

Conversation 274-034, September 8, 1971. White House Tapes, Richard Nixon Presidential Library and Museum, National Archives. Audio and AI transcript via Easy Nixon, https://www.easynixon.org/tapes/274-034 (accessed November 15, 2026).