On June 12, 1973, President Richard M. Nixon, Raymond K. Price, Jr., and Gen. Brent G. Scowcroft met in the President's office in the Old Executive Office Building from 12:45 pm to 1:15 pm. The Old Executive Office Building taping system captured this recording, which is known as Conversation 444-014 of the White House Tapes.
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 Do not cite this transcript as authoritative.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.
Ray, come in.
Sir.
Oh, you're burning the midnight oil again?
Well, not really.
I've been doing it since I got on Mr. Sainston.
You and I are always working on something.
The last time was April 31st.
And I paid for the second one.
Let me give you a little bit of just a feel as to how I think this should come out.
I won't be able to do that until I've kept my meeting free.
I'm going to see what I can do.
I don't know what I'm going to do about it.
I don't know what I'm going to do about it.
But I'd like the speech to begin.
First, I want a strong, upbeat, positive comment.
And the residents have got a hell of a problem with what we're going to do about it.
So I would begin with a report of the state of the economy.
We're one of the greatest boomers in U.S. history.
Where you can, rather than say 8% or this, that, or the other thing, say this is the highest in 25 years, or this is the most we've ever had,
or it's the greatest growth that we've ever had in this country.
And at some point, either of this would be it.
The American people are the best, best, best, best power in the world.
President Trump, President Obama, President Obama, President Obama, including many countries in the world, too.
a far job with higher wages, more opportunities, and education.
But this needs to be done.
It's American economy.
By all regards, Mr.
Senator, it is basically good.
And we have good reason to be optimistic about its future.
Apparently.
Take over.
One negative comment.
Particularly every housewife in our district has a brother and a sister.
And particularly the rest of us.
We've got the inflation down to 3.2.
And this year it's gone up to 8 points.
About 8%.
There's no relief initially in sight.
World demand for food, bad weather, whatever, there are many reasons for food.
So much of a percent of this is due to the reasons.
World demand, bad weather, whatever the reason.
It is a great problem for every man.
It is one of the reasons for the current food competition.
strong, effective action to deal with.
And that's the company action for those who don't.
That is why I have determined that we should have a freeze on all the crisis.
I don't have to tell you why wages are not included.
Wages are not included at this point.
The region has no wage behaviors in response to this.
Wage demands are not, cannot be tied to as a significant cause for the increased prices.
And as long as that behavior remains responsible, it would be unfair
We have to realize that this is only a temporary nation.
The strength of our economy, the reason we're investing in this area is because it's a great country.
We don't want to put the American economy into a straitjacket.
We want to control the bull without having what we do lead to a bust.
We want to control inflation.
for example, without destroying or killing the moon and risking their jobs, et cetera, et cetera, et cetera.
And so for that reason, some of the drastic actions suggested could be great headlines tomorrow and great headaches
uh, six months from now.
Headlines tomorrow are headed six months from now.
In terms of, uh, of, uh, of, uh, black markets, rain, uh, even higher prices, and recession, and, and more, uh, red recession.
Right.
First of that, can I appeal to everyone to deal with the problem, but one that will
the immediate problem on an urgent basis, on temporary basis.
But with our goal, following the promise, and that is to return as quickly as the circumstances will allow, to the great marketing companies and the great sources of energy, and the armistice of prosperity.
What we'll follow, and some of the suggestions should be a
permanent system of price and wage control.
I think this would be the result.
It's wrong if it would not deal with inflation effectively.
It would be harmful.
It would risk your prosperity.
I would think it would deal with the problems that we have.
That would be shocking.
Then we want to indicate what the next phase four would be.
Here it out, phase one.
So in phase four, I've already told you that I'm going to be as close to phase three as possible.
So right down the line, it's a depression of upward prices for gasoline.
that what turns out to be the substance is not important, all that.
Then, this is what .
First, I want to figure out what the administration would think.
I want to do this.
Now I want to go to Congress.
This next 60 days is the time that will make the difference as to whether we're going to have a continuing inflation or whether
which could lead to a recession, or whether we can deal responsibly with our problems at the administrative level, executive level, congressional level, and at your level.
Now, as far as the Congress is concerned, the Congress must act on this as it is, and with a particularly hard, ziggurated perspective.
Number of bills.
I'm going to neck the details of this case, because I didn't see it coming.
As I do so, I will be doing so because every time I receive that message, it's not going to come out of my pocket, or the federal government.
It's going to come out of your pocket.
I ask your support.
I ask the support of the Bureau of Those Conflicts, etc.
Yeah.
Yeah.
Yeah.
Yeah.
Yeah.
Yeah.
Yeah.
Oh, they're going to meet again in 24 hours.
The main thing is, rather than getting to meet, is frankly to get it out there.
I just fire the thing out.
You know what I do.
Let's say that I meet a congressional uproar.
... ... ... ...
Well, then I go on to say, well, support the conference and so forth.
Thank you.
I want to be sure before you get to that, that while we are laying out those controls, I want to be clear that the ultimate purpose is to move away from the controls that we're doing.
And, you know, not the current, because our future is the best we can do.
Thank you.
... ... ... ... ... ... ... ...
Most importantly, we, all of you, all of us, we have the future in our hands.
Like what?
Standing together.
Now that's what I have in mind.
Well, I'm not really good at performing.
I'm good at performing.
And, uh, I'm not going into too much detail.
I'm just going to quickly stand on it so that later people understand.
It's one of those things that you have to do to get it to work.
It's not his fault.
He's a great salesman in the division, but he can't sell publicly like Connery.
He's got schmucks in his ass.
Connery.
We have nobody else to sign.
Sign is the person who's in the pharmacy.
So what we have to do is we've got to catch the people's attention and let them know that we are doing something, that we do care.
I mean, most of them close the back, maybe they close the back, but we truly care.
I mean, you know, it's a good joke.
What we're doing here, we're using the freeze, and we're modifying patients.
The rest are not to be included.
The entities are not to be included.
uh, you know, who have guest prizes, which is a very modified basis for the purpose of catching their attention, catching our attention, telling the Congress to drop its tail in the sixth place, and give us time to do that.
One, to shape our phase four, which is basically phase three, strength, and second, to educate the Congress.
Now, it's my thought to follow this, not on the freshman week, because there's nothing that week at all that's going to be as the freshman week goes, but the Saturday after freshman week, and every Saturday thereafter, or Sunday, I don't know what you've got, but Saturday or Sunday, or Saturday or Sunday, I want to say a ten-minute reading of various things about the year.
come back at the same time so again I'm talking about budget one time I know how hard it is to talk about food another time I'm talking about world markets and so on and so on but I just want to I just want to get that energy another time and so I want a series that's why you can't make six
and set up, set up regular talks with the other nations.
I actually did this in May in Chicago, and this is where I'm going to try to achieve writing for us in the back of April.
I can't go back on holiday.
I'm running out of time, but this is where I'm going to try to do the best I can to cut a lot of time.
That's what I do.
But right now, it's speech.
We're going to take this, whip it around here a little bit.
One o'clock.
Are they giving you anything afterwards?
Well, yes, they're giving me a little bit of information.
Well, I guess we can refer to the last time we did.
Yeah, well, let me say, don't worry too much about the program.
We're going to give you the next chance of the day.
If you can take what I gave you here and put it in the solution along with the little introduction to some of this stuff, then we'll fill in that form soon.
I've got to go.
I'm trying to save it for later.
Perhaps we can meet tonight at 6.
We'll make that connection.
8 o'clock, we'll go to the rough draft.
It has to be aware of a long date, so it should not be 20 minutes.
It could be trouble.
You know what I mean?
It could be 1,500 words.
I don't think I'd like it much more than 1,500 words.
I don't want any certain chances of it being 1,500 words.
It should be 1,800 words.
So we've got to .
We have to say what we need to say.
But the closer we can get it to 10 minutes, the better.
10 to 12 minutes is 1,500 words.
15 minutes is not too bad.
Okay.
I'd prefer to look at it tonight, but after you've got a chance to sort of get my reaction to it.
I'm sure the draft is good, and I saw you in the first draft of my book, but my thinking has moved me along so far.
I'd rather have you try to get some of this in and take the rest of the draft from me.
I often think of that.
I don't know why you're there.
I know you know what I mean.
I've heard you on the president of the English government.
But those two are the dead man.
Those are the missing man's persons.
Is there anybody else that you want to talk to?
I'm very curious.
This is part of history.
But I can talk to people who I was not close to.
This is not close to anybody that I've talked to.
I believe you're going to talk to me.
But I saw it.
He did.
He would call me.
And he would call me.
But there was no way.
He wouldn't call me.
Thank you, God.
Yes, I suppose so.
Thank you.
We've got to have some faith.
There's nothing to do about it.
The problem I have with him is that I cannot answer him.
I think I've acquired a sign that he's going to be rough.
This is exactly what I was going to do.
It's full of issues.
This is what we want to do.
This is what we want to do.
This is what we want to do.
This is what we want to do.
This is what we want to do.
This is what we want to do.
They thought I could just pick up the time.
I was rather surprised.
I understand people being pretentious, and I sometimes find it difficult to find them.
It has a little bit of this part there, but what's the rest of it?
Yeah, whatever.
It's the big story at the moment.
I like them.
Because basically, they were taken in by this gang.
So was I. I don't know.
I just think that
They said that people watched the entire series, uh, so much better off than when they just see the, uh, I don't know today, but, uh, most, uh, most of the time, they, uh, watched the whole thing, and yet, uh, they did get some feeling from that, and they were able to understand that, and I think that made it a lot better.
... ... ... ... ... ... ... ...
Well, I think this, though, is not going to be far along already, because it just really wants to play.
This is what I want to whack it out of there and give it to people.
The main thing is we're going to be able to spend some time.
My hands are going to be on the elevator.
Okay, great.
Because they're not.
We've got a pretty certain element here.
Huh?
We've got a pretty certain element here.
Good heavens, Rutgers.
These people are doing well, and they've got jobs, and they've got money, and so forth.
Sure, and that burger's twice as much.
Nine and a half things.
That's what they're selling.
Oh, it's a silly idea.
Well, it's a good idea to go and check it first.
Huh?
Well, it's a good idea to go and check it first.
Oh, I'll be here.
Okay.
You just ring in case I stepped out for a minute, but I'll be here later if you count me.
Thank you very much.
The problem is that we're doing everything phase three, three, sensitively, you know.
The difficulty is that nobody knows him.
He does shows as a lousy salesman.
It's not his fault.
He's a great salesman in the division, but he can't sell publicly on a company like Schmaltz.
We got attached to the people's attention.
The people's attention.
And let them know that we are different.
Let them know that we do hard to care.
That we do care.
What we're doing here is a good job.
What we're doing here is a good job.
The rents are not to be included in the modified basis.
Wages are not to be included.
The rents are not to be included in the guest prices.
Wages are not to be included in the early modified basis of guest prices.
Wages are not to be included in the purpose of catching their attention.
The early modified basis of catching our attention.
The purpose of catching.
telling the Congress to draw their attention, to capture this terrible decision that is in our favor.
And yet thus do we, telling the Congress to do good work on this terrible decision that is in our favor.
And yet thus do we, that is one, to shape our phase three to do good work, which is basically phase three strength.
And yet thus do we, that is one, to shape our phase four, which is basically ten seconds, to do phase three strength.
Now, let's find a thought to follow this.
To educate.
Now, let's find a thought to follow this.
To educate.
Now, let's find a thought to follow this.
To educate.
And every Saturday, you know, it's going to be this.
And every Saturday, you know, it's going to be this.
And every Saturday, you know, it's going to be this.
And every Saturday, you know, it's going to be this.
to come back and say, it's already been completed.
So I want to say, again, I agree with what you're talking about.
But it's very expensive.
Sometimes they don't know how hard it is to come back and say, well, we've got food, and we've got to come back and talk about it.
But it's a service.
It's a rural market.
So it's a hard sell.
I didn't want to talk about budget one time.
I didn't want to talk about food.
I didn't want to talk about energy another time.
And so I want Sarah to talk about worries and worries and pre-climates and so forth.
So I just wanted to campaign.
But I didn't want to talk about energy another time.
And so I just wanted to campaign.
And so I just wanted to campaign.
So, I want a series, and I just want to give you a regular promise.
We have a campaign, and we want to get it to the nation, right?
And actually, this is the main thing we want to do.
We want to get it to the nation.
This is where we want to get it to the nation.
So, I'm writing this.
But right now,
and go back on target.
Looking to take this with me.
Right now,
Let me say, don't worry too much about the program.
They're going to give you the next chance of the day.
They're not going to do anything afterwards.
So they're going to push off the program.
Yeah, well let me say, don't worry too much about the program.
You're going to be the next champion of the day.
And you can take what I give to be my savior.
And perhaps we can either put in the push tonight.
I made a clock to look over the rough draft.
It'll work.
It'll work all day long.
It'll work all day long.
It'll work all day long.
It'll work all day long.
It'll work all day long.
It'll work all day long.
What do you say?
What do you say?
Dead.
Dead.
Dead.
Dead.
Dead.
Dead.
Dead.
Dead.
Dead.
Dead.
Dead.
Dead.
Dead.
Dead.
Dead.
Dead.
Dead.
Dead.
Dead.
Dead.
Dead.
Dead.
Dead.
Dead.
Dead.
I don't want you to get hammered much more with any certain chances of a big chance.
I don't want you to get hammered much more with any certain chances of a big chance.
I don't want you to get hammered much more with any certain chances of a big chance.
I don't want you to get hammered much more with any certain chances of a big chance.
I don't want you to get hammered much more with any certain chances of a big chance.
We have to say what we need to say.
But the closer we can get it in 10 minutes, the better.
10 to 12 minutes is the only thing we need.
15 minutes.
15 minutes is not always the time.
15 minutes is not always the time.
I have a problem.
I have a problem.
I have a problem.
I have a problem.
I have a problem.
I have a problem.
I have a problem.
I have a problem.
I have a problem.
I have a problem.
I have a problem.
I have a problem.
So shall we say, I have no issues with the more likely we can figure 1,500, 1,500, 1,500, 1,500.
I prefer to look at it...
I prefer to look at it after you've got a chance to start to get mine.
After you've got a chance to start to get mine.
After you've got a chance to start to get mine.
After you've got a chance to start to get mine.
After you've got a chance to start to get mine.
After you've got a chance to start to get mine.
I'd rather have you try to get some of this in, and we can take the rest of that to the company.
I'd rather have you try to get some of this in, and we can take the rest of that to the company.
Thank you.
I often think about the character that I used to have.
The character that I used to have.
I used to say, why do you have to know this?
You know what I mean?
It's the first time.
But I used to say, why do you have to know this?
You know what I mean?
But those two are the first time.
I used to say, why do you have to know this?
You know what I mean?
Very curious.
Very curious.
Very curious.
All right.
All right.
We've got to have something.
We've got to have something.
Yes, I suppose those .
I think I can .
We've got to have some faith.
We've got to have some faith.
The problem I have with him is that I cannot answer him.
Unfortunately, all of us can't.
Some of us can't.
Some of us can't.
I think I can fire him aside.
He's got to be right.
He's got to be right.
He's got to be right.
He's got to be right.
What do you want to scratch?
What do you want to scratch?
What do you want to scratch?
What do you want to scratch?
What do you want to scratch?
What do you want to scratch?
What do you want to scratch?
... ... ... ...
They thought I could just pick up and quit.
Well, they were writing that to the police, so they didn't know how to do it.
They thought it was good.
They didn't know how to do it.
They didn't know how to do it.
They didn't know how to do it.
They didn't know how to do it.
They didn't know how to do it.
They didn't know how to do it.
They didn't know how to do it.
They didn't know how to do it.
They didn't know how to do it.
They didn't know how to do it.
They didn't know how to do it.
They didn't know how to do it.
They didn't know how to do it.
They didn't know how to do it.
They didn't know how to do it.
They didn't know how to do it.
They didn't know how to do it.
They didn't know how to do it.
They didn't know how to do it.
They didn't know how to do it.
They didn't know how to do it.
They didn't know how to do it.
Our late night, sometimes our late food is so much more difficult to find than we usually find.
And I think that they got pretty soon.
But I was rather surprised.
I don't think this was fair, but what's the worst thing to do?
I didn't understand people eating.
And I sometimes find it difficult to find them.
Yeah, whatever.
It's a big story at the moment.
They weren't taking it in by this game.
It was something that did more by the bat.
I just think that they said to people, I don't know what happened to the bat at the moment.
Yeah, whatever.
The entire period, the day started much better off than when they just received the other two very good ones.
They were kicking it in by this game.
And so was I.
The news got better.
The news got better.
The news got better.
The news got better.
.
.
.
.
.
.
.
.
.
.
I think this is always not going to be high in the head.
We're going to have the big boys be far along LA because of it.
It just really blocks the player.
This is what I want to do now.
I don't want to whack it out of there and do that.
It's a class of lies.
I'm not lying anymore.
I'm probably lying.
Wow.
Wow.
Sure, hamburgers twice ain't this, though.
It's about a nine and a half thing.
This is what I saw.
Whack it out of him.
You just raked Jake's iron.
I'll be here thinking about it.
You know, the people that are saying things are going to appeal to the sense of common.
My ex-ex is doing a hell of a job.
Don't you agree?
Because they're not.
We've got a pretty assorted hell of a job.
Huh?
We've got a pretty assorted hell of a job.
Good heavens, Rutgers.
These people are doing well.
They've got jobs.
They've got money.
It's over.
Sure, an average price is about $9.50.
Okay, well, let's just do it.
Okay.
I'll be here.
You just ring, take a sign, step down for a minute, but I'll be here.