Conversation: 469-009
Prev:  469-008 Next: 469-010Start Date: 18-Mar-1971 5:25 PM
End Date: 18-Mar-1971 6:22 PM
Participants:
Nixon, Richard M. (President); Connally, John B.; Woods, Rose Mary; Recording Device: Oval Office
Full Tape Conversation Start Time: 00:31:14
Full Tape Conversation End Time: 01:29:17
NARA Description:
On March 18, 1971, President Richard M. Nixon, John B. Connally, and Rose Mary Woods met in the Oval Office of the White House from 5:25 pm to 6:22 pm. The Oval Office taping system captured this recording, which is known as Conversation 469-009 of the White House Tapes.
Nixon Library Finding Aid:
Conversation No. 469-9 Date: March 18, 1971 Time: 5:25 pm - 6:22 pm Location: Oval Office The President met with John B. Connally Greetings Connally’s schedule 9 NIXON PRESIDENTIAL MATERIALS STAFF Tape Subject Log (rev. 9/08) -Connally’s health Rose Mary Woods entered at 5:25 pm Editing changes Refreshments Editing changes Woods left at 5:26 pm Connally’s meeting with Arthur F. Burns -Balance of payments -Federal Reserve staff in Washington, DC or New York -Possible statement concerning interest rates -Paul A. Volcker’s previous conversation with Burns -Board of Governors -Alfred Hayes -Connally and Burns -Statement -Relations between Burns and Connally -Burns -Relations between Burns and President -Connally’s image -Burns’ statements to Congress -Investment tax credits -Social Security changes -Wage and income policy -Burns’ career -Chairman of Council of Economic Advisors [CEA] -Chairman of Federal Reserve -Counselor to the President -Connally’s public statements concerning Burns -Federal Reserve -Burns’ public statements -Chairman of CEA -White House staff -Secretary of Treasury -Tax policy -Jurisdiction -Burns’ statements 10 NIXON PRESIDENTIAL MATERIALS STAFF Tape Subject Log (rev. 9/08) -Social Security -Response of others -Possible outcome -Effect -Federal Reserve System -Monetary policy -Congressional testimony -Reasons Conv. No. 469-9 (cont.) -Possible outcome -Social Security -Investment tax credit bill -Previous Quadriad meeting -President’s behavior -Reason -Paul W. McCracken and George P. Shultz -Burns’ statements -Reason -Connally’s response -Forthcoming meeting of Burns and President -Burns’ support for President -Burns’ statements -Possible outcome -President’s decisions -Connally, Burns -Advice -Burns’ staff -Economy by 1972 -Forthcoming meeting between Burns and President -Connally’s view -Economic policy -Relations -Burns’ career -Forthcoming meeting between Burns and President -Burns’ actions -Influence with President -Cabinet -Burns -Forthcoming meeting between Burns and President -Burns -Possible outcome of actions -Influence on economic policy -Contribution to administration 11 NIXON PRESIDENTIAL MATERIALS STAFF Tape Subject Log (rev. 9/08) -Forthcoming meeting between Burns and President -Burns -Shultz, McCracken -White House staff -Monetary policy -Burns’ relations with President -Burns’ actions -Outcome Conv. No. 469-9 (cont.) -Treasury and Federal Reserve -Burns as CEA chairman -George T. Humphrey -Gabriel Hauge -Vice President Spiro T. Agnew -Oveta Culp Hobby -Jim [James P.?] Mitchell -A Cabinet meeting -President’s statement -Mitchell -Humphrey -Dwight D. Eisenhower -Relations with President -Connally’s relations with Lyndon B. Johnson -Changes -John F. Kennedy advisors -Compared with Burns’ relations with President Burns -Forthcoming meeting with President -Topics of conversation -Connally’s view -CEA -Office of Management and Budget [OMB] -Burns’ public statements -Monetary policy -Tax policy -Wage and price controls -Burns’ jurisdiction -Effect on President -Forthcoming Quadriad meeting Consumer Price Index -President’s previous talk with Shultz 12 NIXON PRESIDENTIAL MATERIALS STAFF Tape Subject Log (rev. 9/08) -New figures compared with previous month -Food prices -Effect -Inflation rate Personal income and industrial output -March figures -Car sales Conv. No. 469-9 (cont.) -March figures, April 15, 1971 -First quarter figures Economy -Administration policy -Burns, Quadriad -Prices -Burns -Milton Friedman -Market response -Unemployment and inflation -President’s view -Forecast -March figures -Shultz -Economists -Growth -Possible changes -President’s policy -President’s view -Consumers -President’s talk with a friend in New York City -Observations on a boxing match -New York City restaurants -Response -Rose, Sugar, and Super Bowls -General Charles A. J. M. de Gaulle’s remarks on France -Public opinion -Effect of Vietnam War Vietnam -President’s November 3, 1969 speech -Effect -Johnson 13 NIXON PRESIDENTIAL MATERIALS STAFF Tape Subject Log (rev. 9/08) -Public opinion -Effect of past actions -President’s view -Military action -Laos -Effect -Casualties -Effect Conv. No. 469-9 (cont.) -Troop withdrawals -President’s forthcoming speech -Draft -General Nguyen Van Thieu -President’s goals for South Vietnam -Communism -President’s view -Effect on public opinion Soviet Union -William P. Rogers and Henry A. Kissinger -Strategic Arms Limitation Talks [SALT] -Effect on public Vietnam -Public opinion -Johnson’s actions -Democrats and the “Establishment” -Eugene J. McCarthy -Effect on public opinion US in 1969 -Compared with 1967 and 1968 -Urban and campus unrest, economy -Justice Department under John N. Mitchell -Compared with W. Ramsey Clark Economy -Current situation -Youth wages -Review -Connally and staff, Shultz, McCracken -Possible changes in policy -Taxes 14 NIXON PRESIDENTIAL MATERIALS STAFF Tape Subject Log (rev. 9/08) -Administration policy -President’s view -President’s meeting with Heads of State -Balance of payments -Other countries’ economies -Burns’ comments -Effect -Public opinion Conv. No. 469-9 (cont.) -Connally, President, and Burns’ roles -Review -Taxes -Budget -Connally’s view -1065 -Deficits and revenues -President’s policy -Spending -Taxes -An unknown man -Banks -Savings and loans -Need to increase spending -Public opinion -Burns -Monetary policy -Burns -Interest rates -Connally’s statements -Timing -Fluctuation -Benefits to Administration -November 1972 -1971, 1972 -Unemployment -Fluctuations -1971, 1972 -Inflation -1971, 1972 -1065 in budget -Unemployment in 1971 -Inflation by November 1972 -Lending institutions 15 NIXON PRESIDENTIAL MATERIALS STAFF Tape Subject Log (rev. 9/08) -Businesses -Business and labor -Housing -Interest rates -Connally’s view -1971, 1972 -Columnists -International banking Conv. No. 469-9 (cont.) -Columnists -Balance of payments -European banks ****************************************************************************** BEGIN WITHDRAWN ITEM NO. 4 [National Security] [Duration: 16s ] NETHERLANDS END WITHDRAWN ITEM NO. 4 ****************************************************************************** -Adolf Hitler -US troops in Europe -1969 compared with 1971 interest rates -Gold -Netherlands, Switzerland -European bankers’ meeting -David Rockefeller -Herbert P. Patterson -Vice President of First City National Bank -Balance of payments -Possible statement by President or Rogers -Secretary of Defense -US troops in Europe -Effect 16 NIXON PRESIDENTIAL MATERIALS STAFF Tape Subject Log (rev. 9/08) -Soviet Union -Middle East, SALT -Effect -Dutch ambassador -State Department luncheon -[Forename unknown] Tezarny [sp?] comments -US economic policy Conv. No. 469-9 (cont.) Economy -Taxes -Burns, President -President’s forthcoming meeting with Burns -Monetary policy -Wages and prices -A previous meeting -Romney, John A. Volpe, Winton M. (“Red”) Blount, Maurice H. Stans -Possible freeze -President’s concern -Effects -Connally’s view -Wage and price bureaucracy -President’s role -James D. Hodgson -Possible agreement with labor -Labor -Blount -Congress -President’s legislative proposals -Transportation -Blount -Unions -Possible legislation -Timing -Connally’s view -Effect -Timing -President’s forthcoming meeting with Burns -Quadriad meeting -Forecast -Review -Stans, Hodgson, Blount, Volpe, Romney, Clifford M. Hardin -Possible meeting with President 17 NIXON PRESIDENTIAL MATERIALS STAFF Tape Subject Log (rev. 9/08) -Forthcoming Cabinet meeting -Effect Lockheed -Forthcoming week’s developments -Supersonic Transport [SST] vote -Environmentalists -Liberals Conv. No. 469-9 (cont.) -Future in Senate -Warren G. (“Maggie”) Magnuson -Henry M. (“Scoop”) Jackson -Connally’s forthcoming meetings -Lloyd M. Bentsen, Jr. -John Sherman Cooper -J. N. Mitchell -President’s position -Future -Liberals and environmentalists -Forthcoming developments Connally left at 6:22 pm