Conversation: 558-009
Prev: 558-008 Next: 558-010Start Date: Monday, August 9, 1971 9:02 PM
End Date: Monday, August 9, 1971 9:44 PM
Participants:
Nixon, Richard M. (President); Woods, Rose Mary; Shultz, George P.; [Unknown person(s)]Recording Device: Oval Office
Full Tape Conversation Start Time: 02:02:03
Full Tape Conversation End Time: 02:46:01
NARA Description:
On August 9, 1971, President Richard M. Nixon, Rose Mary Woods, George P. Shultz, and unknown person(s) met in the Oval Office of the White House from 5:02 pm to 5:44 pm. The Oval Office taping system captured this recording, which is known as Conversation 558-009 of the White House Tapes.
Nixon Library Finding Aid:
Conversation No. 558-9
Date: August 9, 1971
Time: 5:02 pm - 5:44 pm
Location: Oval Office
The President met with Rose Mary Woods.
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BEGIN WITHDRAWN ITEM NO. 1
[Personal Returnable]
[Duration: 11m 20s ]
END WITHDRAWN ITEM NO. 1
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George P. Shultz entered at 5:13 pm.
Letter
-[Forename unknown] Walker
-New York
Woods left at 5:15 pm.
Schedule
-Helena M. (“Obie”) Shultz
-Trip to New England
-Nursing home
-Conditions
-Thelma C. (“Pat”) Nixon
International monetary affairs
-President's meeting with Paul W. McCracken
-Discussions
-Leaks
-Paul Scott’s article
20
NIXON PRESIDENTIAL MATERIALS STAFF
Tape Subject Log
(rev. 10/06)
Conv. No. 558-9 (cont.)
-Closing gold window
-Shultz, John B. Connally, and the President
-Possible run on dollar
-Connally
-France
-Germany
-Great Britain
-Arthur F. Burns
-Discussion with bankers
-Leaks
-McCracken, Peter G. Peterson, Connally
-Possible Administration actions
-Closing the gold window
-Export and import tax
-Wage and price freeze
National economy
-Wage and price action
-Shultz's preparations
-Congress
-Hearings
-Shultz’s possible testimony
International monetary crisis
-Connally
-Possible Administration actions
-Timing
-Closing the gold window
-Entire package
-Meeting
-San Clemente
-Shultz, Connally, and the President
-Burns
-Leaks
-Peterson
-Wilbur D. Mills
-Value
-McCracken
-Connally
-Burns
-Shultz's schedule
21
NIXON PRESIDENTIAL MATERIALS STAFF
Tape Subject Log
(rev. 10/06)
Conv. No. 558-9 (cont.)
-Burns
-Tactics
-Gold prices
-Raising
-Consequences
-Congress
-Effect on prices
-Wage and price freeze
-Timing
National economy
-Wage and price freeze
-Public attitude
-Labor, business, consumers
-Analogy to Vietnam War
-Media
-Inflation
-Wage and price board
-Timing
-Wage and price board
-Possible name
-Burns
-Purpose
-Public relations
-Possible effectiveness
-Duration
-Wages
-Possible difficulty in implementing
-Automobiles
-Produce
-Women's apparel
-Services
-Rents
-Duration
-Scope
-Interest rates
-Home loans
-Shock effect
-Preparation for further action
-Import tax
-Inflation
22
NIXON PRESIDENTIAL MATERIALS STAFF
Tape Subject Log
(rev. 10/06)
Conv. No. 558-9 (cont.)
International monetary crisis
-Import tax
-Inflation
-Milton Friedman
-Flexible exchange rates
-Inflation
-Burns
-Fixed exchange rates
-Closing the gold window
National economy
-Wage and Price Board
-Inflation
-Duration
-Public actions
-Motivation
-Self-interest
-Business and labor
An unknown man entered and left at an unknown time after 5:15 pm.
Ellsworth F. Bunker
National economy
-Possible Administration actions
-International situation
-Dollar floatation
-Possible political effect
-Wage and price freeze
-Automobile excise tax
-Investment tax
-Congress
-Possible budget cuts
-Imports tax
-Federal pay raises
-Delay
-President’s announcement
-Timing
-Congressional session
-Public confidence
23
NIXON PRESIDENTIAL MATERIALS STAFF
Tape Subject Log
(rev. 10/06)
Conv. No. 558-9 (cont.)
-Vietnam war
-Blacks
-Environment
-Consumer issues
-Administration’s successes
-Foreign policy
-Blacks
-Critics
-Crime
-Effect on media
-Economic issues
-Congress
-Wage and price freeze
-Budget cuts
-Impoundment of funds
-Debt
-Family assistance
-Fiscal years [FY] 72, 73
-Revenue sharing
-Possible savings
-Federal government
-Pay raise
-Personnel cutbacks
-Appearance
-Congress
-Taxes
-Investment tax credit
-Automobile excise tax
-Estimated cost
-Personal income
-FY 1973
-Value added
-Budget
-Department of Defense [DOD]
-Navy
-Moses Waltz [?]
-Air Force
-Army
-Navy
-Military bases
-Caspar W. ("Cap”) Weinberger
24
NIXON PRESIDENTIAL MATERIALS STAFF
Tape Subject Log
(rev. 10/06)
Conv. No. 558-9 (cont.)
-Location
-Massachusetts
-California
-Florida
-Unemployment
-Ohio
-Testing center
-California
-Funds
-John N. Mitchell
-New Jersey
-Donald H. Rumsfeld
-Unemployment rate
-Unemployment
-Michigan
-Seattle, Washington
-New Jersey
-Kansas
-California
-Aerospace industry
-Shultz's forthcoming talk with Burns
-Wage and price freeze
-President’s talk with Connally and Shultz
-Possible leak
-Instructions for Shultz
-Burns’ memorandum
-Wage and price board
Shultz left at 5:44 pm.