Nixon White House Tapes › Tape 285 › Conversation 285-031

Nixon alone in his EOB office on New Economic Policy and wage-price freeze

Thursday, October 7, 1971 · 1:25 PM–2:43 PM ET · Old Executive Office Building · 3 min

ParticipantsNixon, Richard M. (President)Conversation285-031 on Tape 285 (tape position 03:25:52–03:28:43)StartThursday, October 7, 1971 at 1:25 PMEndThursday, October 7, 1971 at 2:43 PMRecording deviceOld Executive Office BuildingSourceNixon Library record for 285-031 ↗

AI Summary

President Nixon rehearses a televised address to the nation regarding his New Economic Policy and the progress of the ongoing wage-price freeze. He emphasizes the success of the anti-inflation measures, citing declines in wholesale and industrial commodity prices, and advocates for prompt Senate action on his tax incentive bill. The speech aims to bolster public support by highlighting grassroots cooperation and the necessity of sacrifice to ensure national economic stability.

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 Do not cite it as authoritative — verify against the audio and the finding aid.

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Seven weeks ago, I announced a new economic policy to stop the rise in prices, create new jobs, and protect the American government.
Tonight, I want to report to you about how that new policy has been working, and then describe how that policy will be continued.
On the international front, I'm glad to report substantial progress in our campaign to create a new monetary stability and to bring a new fairness to international trade.
Just as this nation welcomes foreign competition,
We have a right to expect that our trading partners will welcome American competition.
Welcome sport competition.
We have a right to expect that our trading partners abroad welcomes American competition.
It's a healthy development.
The world has come to understand that America believes in free trade as long as it is fair trade.
This will mean more sales of American goods abroad, more jobs for American workers abroad.
Further, job hunting.
The House of Representatives yesterday passed a tax program based on my recommendation that will create an additional half-million jobs in the coming years.
I call upon the Senate, which has begun hearings on this bill today, to act as promptly as the House so that we can move forward with our goal of full employment and peacetime.
I can report to you tonight that the wage-price freeze has been remarkably successful.
Figures published today bear this out.
Wholesale prices in September posted the biggest decline since 1969.
and the price of industrial commodities has declined for the first time in three and a half years.
The primary credit for the success of this first step in the fight against private enterprises belongs to the American people.
It is you who have shown the willingness to cooperate in the campaign against neglect.
It is you who have answered the call that put the public interest ahead of private entities.
You have made possible a strong beginning in our whole law effort to hold down the cost of labor.
Thousands of letters reported to the White House since I announced the anti-inflation program on the city.
Listen to what people all across America and all walks of life have to say about this program.
Here's a school teacher in New Jersey.
I am a widow raising two sons with my teacher's salary, and I will lose about $300 because of the freeze.
Yet I sincerely feel that we must all support your efforts to bring the economy into balance.
a wage earner in Lantag, New York.
As one who is expecting an increase in income this summer, let me say that I will be glad to go without it if it will curtail inflation.

NARA Description

On October 7, 1971, President Richard M. Nixon met in the President's office in the Old Executive Office Building at an unknown time between 1:25 pm and 2:43 pm. The Old Executive Office Building taping system captured this recording, which is known as Conversation 285-031 of the White House Tapes.

Nixon Library Finding Aid

Conversation No. 285-031
Date: October 7, 1971
Time: Unknown between 1:25 pm and 2:43 pm
Location: Executive Office Building
The President rehearsed a speech.
[A transcript of the final broadcast of this speech appears in Public Papers of the Presidents,
Richard M. Nixon, 1971, pp. 1022-1026]

Also recorded on October 7, 1971

  • 010-133 1:02 PM · 6 sec — President Richard M. Nixon and the White House operator talked on the telephone at 1:02 pm.
  • 010-134 1:02 PM · 18 sec — President Richard M. Nixon and Marjorie P. Acker talked on the telephone from 1:02 pm to 1:03 pm.
  • 010-135 1:03 PM · 2 min — President Richard M. Nixon, White House operator, Marjorie P. Acker, and William L. Safire talked on the telephone at an unknown time between 1:03 pm and 1:20 pm.
  • 285-026 1:05 PM · 8 min — President Richard M. Nixon, Marjorie P. Acker, White House operator, and William L. Safire met in the President's office in the Old Executive Office Building at an unknown time between 1:05 pm and 2:43 pm.
  • 285-027 1:25 PM · 1 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 1:25 pm and 2:43 pm.
  • 285-028 1:25 PM · 8 sec — 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 1:25 pm and 2:43 pm.
  • 285-029 1:25 PM · 8 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 1:25 pm and 2:43 pm.
  • 285-030 1:25 PM · 6 min — 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 1:25 pm and 2:43 pm.

All 106 conversations from October 7, 1971 →

Cite this conversation

Conversation 285-031, October 7, 1971. White House Tapes, Richard Nixon Presidential Library and Museum, National Archives. Audio and AI transcript via Easy Nixon, https://www.easynixon.org/tapes/285-031 (accessed October 6, 2026).