Nixon, Haldeman & Connally on New Economic Policy and Congressional relations

1:50:11He was just so proud.
1:50:13He was just really a fellow to talk to and usually a fan.
1:50:19Well, that's interesting, his point that, you know, even as the afterthought, they thought the program was great, but, you know, he was so good.
1:50:29Everybody, that's the most, I can't hit, but I think it was the most valuable piece.
1:50:38is running the country.
1:50:42It's the leadership thing that... What I'd like to do, Bob, is to have a meeting, a leadership meeting tomorrow.
1:50:52When do we speak?
1:50:55When do I have to let you know?
1:50:56You leave at 5.55 or some time, 5 o'clock.
1:51:00Well, then, let's try to set it tomorrow.
1:51:02We could, uh, 5.45, right?
1:51:03Tomorrow, say, at, uh, 10 o'clock, rather than in the morning.
1:51:07That's what I did at 5 o'clock.
1:51:08What, uh, well, I want Milo Wilson-Burner.
1:51:15I want Russell Bowman, Bowley Bennett.
1:51:18I want George Mahon and Bowley.
1:51:22Uh, I might...
1:51:30and many interns too.
1:51:38Then I'd like to have Mansfield and Scott Griffin.
1:51:56on our side named Ted Burton.
1:51:58Ted on the other, on our side, on the House side, Albert, Lawrence, Ford, and Aarons.
1:52:07Now, Albertson.
1:52:14They talk about farm and you don't have to sell them.
1:52:18Obviously some of these, you're not going to get any of them.
1:52:20Plants are reduced for, you know what I mean, on the east.
1:52:24And this is my request to some of these people.
1:52:28I don't want them, not from abroad, but you know, to the extent that government transportation is available, which is, if you'd like, Wilbur Nelson, and Little Rock, and I want you to have government plants.
1:52:37You know, if it's needed, you know what I mean?
1:52:44I think the best thing to do is just let it go, you know, and hope that they won't come.
1:52:59Well, I'm going to talk to Julie about letting her, let her, of course, adopt.
1:53:04She may come back.
1:53:05I'll talk to her.
1:53:21What do you want from here?
1:53:25I don't want to sign all that group.
1:53:32You know, nothing below that.
1:53:40Because it will fill up the room.
1:53:45And on the liaison side, I don't want the whole blue.
1:53:51and all that stuff, you know, just some regular attendants.
1:53:54We could do it with two regular attendants.
1:53:58I think we should be there long so that we don't appear to be overstating anything.
1:54:03And I don't want, I don't want Klein and all that stuff in there either.
1:54:06You know what I mean?
1:54:07I don't want a whole group of PR guys that we could just sit there and cover for the press.
1:54:14Who is it that you bring these legislating things to cover?
1:54:17Can't say we do it.
1:54:18He can initially, but he says he can't do it.
1:54:21That would be nice for him.
1:54:22I'm not applying and all the rest of this is... Well, on this occasion, why don't you let a satirist do the covering?
1:54:29I mean, after all the... Just let a satirist be there and he'll understand everything too.
1:54:38A satirist is...
1:54:42Now, I live in Hanover.
1:54:43What about Peterson and Hurd?
1:54:46No, he didn't attend.
1:54:50Well... No, no, wait.
1:54:53You've got to get him over there at Peterson.
1:54:54He's got to work with the Congress on Maxwell's man.
1:54:57Oh, yeah.
1:54:58Peterson.
1:54:59I think you've got to have Peterson and Hurd.
1:55:06Why don't I help John?
1:55:08Oh, you want to get him a boy with a gun?
1:55:34Hello.
1:55:35I didn't want to bother your vision for your Congress, but I thought it was a good thing
1:56:05I just talked to Wilbur and he walked me all the way.
1:56:11And I said, Wilbur, would you be willing to come in for a meeting with the bipartisan leadership?
1:56:17He said, yeah, I'll have it this week.
1:56:21And so I thought that 10 o'clock tomorrow night, basically this would be
1:56:26It's like a ranking on ways and means, appropriations, banking, and currency, and the top leadership of the House and Senate bipartisan.
1:56:37How does that sound to you?
1:56:38It's follow-up.
1:56:39And so if you will announce that the President is calling the bipartisan leadership together, and that we have indications of very strong support from Chair Mills of making proposals.
1:56:51So let's give him credit.
1:56:54Give him credit.
1:56:55Yeah.
1:56:59Ways and means, appropriations, banking, currency, and then I will include the, and then the legislative, in other words, the majority-minority leaders' quips.
1:57:08No comment.
1:57:12Boathouses, all of the boathouses, the banking currency, I think, ought to be included in this.
1:57:18Don't you think so?
1:57:19Yeah.
1:57:19And also, they're our friends.
1:57:22Most of those people are our friends.
1:57:25All right.
1:57:28Good luck.
1:57:28Good luck.
1:57:29I thought that was a good guy.
1:57:33Okay.
1:57:34Yeah.
1:57:36Good luck.
1:57:48His technical was saying last night, you know, that Conley's so head and shoulders above everybody else around here.
1:57:56And his technique at handling people, you know, like yesterday, when we're getting the press conferences and the briefings and all that set up, you know, he walks into Ron's office and sits down.
1:58:06Ron says, how great did you do this and all that.
1:58:08He says, whatever, y'all won.
1:58:08You know, he just...
1:58:13If he disagrees, he tells you that instead of coming in like a Romney or somebody would do, I'd tell you how he's going to conduct the press conference and then how you should do it and be pompous and have police on his aides and the deal and all that.
1:58:24He walks out of the door and sits down and says, wait one minute.
1:58:28We're here.
1:58:31I'm not sure.
1:58:34Maybe the State Department ought to tell you for sure.
1:58:40The
1:58:48I whispered to him, I gave him a note on some of the points he wanted to get across, and that's our names.
1:58:57You see, he just tracks right into the sand, and he goes, and he just broke it.
1:59:05I don't believe so.
1:59:05There's a copy message.
1:59:14Place the call so that they don't hear it before.
1:59:18Why don't I just call him and tell him?
1:59:20I'll just call him and tell him.
1:59:25All right, all right.
1:59:28Oh, I think that's nice.
1:59:31Good.
1:59:35He takes a lot of heart, that's true.
1:59:36Well, as a matter of fact, I think everybody is in the first much of the reaction, actually, I would say, is better than anticipated.
1:59:42Would you not say so?
1:59:44Much better than I anticipated.
1:59:46Yeah.
1:59:46And most of the negative that I anticipated isn't there, but it's a bit constant.
1:59:50Embers beneath the surface.
1:59:51They have to, in a hastily called meeting at Camp David, or a hastily summoned press conference or something like that, or a hastily... A little bit, but it's way down low.
2:00:02I thought it would be, you know...
2:00:04And finally, we had got that out of the box just like I told you we can.
2:00:07The purpose of this, we had to keep it quiet.
2:00:09I've been working all the time.
2:00:11Oh, sure.
2:00:12And that speech was too well organized to just come off the top of my head in five minutes.
2:00:16Yeah.
2:00:16Don't you think so?
2:00:18Yeah, but knowing the way those bastards grew, it's like I was looking for the worst and figuring the way you could really shoot this down is to say, make some mechanics.
2:00:27So perhaps you can't even plan.
2:00:28Well, don't you think I could have a mechanic that would be so private?
2:00:36Newsweek.
2:00:37Newsweek and I don't know why that's out today.
2:00:50That food page says make some seriously considering some economic moves.
2:01:04If he goes to a wage-price freeze, he will not announce it until late spring next year, and it will hold through the election.
2:01:11If, on the other hand, he goes to some form of a stabilization board, he may announce it quite soon.
2:01:18Anything else?
2:01:20Sir, I'll tell you, this is just a run.
2:01:24It's in you.
2:01:25It just doesn't matter.
2:01:27That's right.
2:01:28Who have we got here?
2:01:29Who's the lowest here, sir?
2:01:30All right.
2:01:33Uh, Colin's better than Baloo.
2:01:34Well, why don't we have them call Ronald?
2:01:36Let's just have, uh, have the calls made by, uh... No, no, it should be done by their office.
2:01:39Yeah, yeah.
2:01:40Baloo's the senior guy.
2:01:41We can have him do it.
2:01:42Baloo.
2:01:42Yeah, Baloo and Colin.
2:01:44All right.
2:01:45Would you like him to do it?
2:01:46No, let me just call Ronald.
2:01:50Well, you better call him.
2:01:53All right.
2:01:53Yeah.
2:01:53You got it, Mr. Baloo.
2:01:59We'll have to call him.
2:02:09I'd love to see those magazines.
2:02:11Yeah, this is the point, so...
2:02:16This thing might lose all the coverage, Tommy.
2:02:18Yeah.
2:02:18You know, time is...
2:02:23I'm glad it's true, then, aren't you?
2:02:32Scraps keep playing.
2:02:33Well, don't you think I'd like to grab a magnet and use it like that?
2:02:42Newsweek.
2:02:42Newsweek and I don't know why it's sad today.
2:02:49It's that Google page.
2:02:57It says next to seriously considering some economic moves.
2:03:09If he goes to a wage-price freeze, he will not announce it until late spring next year, and it will hold through the election.
2:03:16If, on the other hand, he goes to some form of a stabilization board, he may announce it quite soon.
2:03:27Sir, Bill Chang is just arriving in San Diego just about now.
2:03:34Who have we got here?
2:03:35Who's the loser?
2:03:38All right.
2:03:39Colin's better than .
2:03:40Well, why don't we have them call now?
2:03:43Let's just have .
2:03:44No, no, it should be done by their office.
2:03:46Yeah.
2:03:46is the senior guy.
2:03:47We can have him do it.
2:03:50All right.
2:03:51Would you like anything more to say?
2:03:55No, let me just call .
2:03:58Well, you better call.
2:04:14I don't know if you see those magazines.
2:04:18Got it.
2:04:21This is the point, so... Is there anybody in blue that's on the cover of Time?
2:04:27Got it.
2:04:28You know, Time is...
2:04:29I'm glad it's true, then, aren't you?
2:04:30This week's cover is lengthy.
2:04:33Oh, I would expect that.
2:04:38They'll say it's a massive stroke, but not why he had to do it.
2:05:01And the President would like to call the Bipartisan Leadership meeting tomorrow morning at 10 o'clock.
2:05:03And the members should be notified immediately by a phone when he gets your approval.
2:05:04Why don't you make it 11 o'clock?
2:05:05Excuse me, make it 11 o'clock.
2:05:0611 o'clock.
2:05:0610.30.
2:05:0610.30.
2:05:06Oops.
2:05:06I'm at 10.30.
2:05:06I'm thinking that it's time for someone to fly in before we get in because I have to fly in at 10.30.
2:05:28All right.
2:05:29Let me give you the names now.
2:05:31Mansfield, Scott, Griffin, and Berger.
2:05:38And the Senate.
2:05:39Albert, who, of course, can't come.
2:05:45Bobbs, Ford, and Ahrens.
2:05:46And House.
2:05:46Oh, wait, who's the left in House?
2:05:48And they've got to have him in there, but in case you've got to have, what's his name?
2:05:53Well, maybe we can... Maybe he loved it.
2:05:58Let's limit the leadership.
2:05:59Let's limit the leadership to Ford and Ahrens.
2:06:01No, wait a minute.
2:06:02Ford and Boggs, just the two top leaders, and Mansfield and Scott.
2:06:08Okay?
2:06:09We've got Irvin and Byrd.
2:06:10So we don't have the others.
2:06:12Right.
2:06:12Right.
2:06:13So, hey, Mansfield and Scott in the Senate, and Boggs and Ford from the House, we've got Ahrens.
2:06:27And then chairman and ranking member of banking and currency in both houses.
2:06:32Appropriations, employees and meetings.
2:06:42Include the whips, include the whips.
2:06:44I'm starting to include the whips.
2:06:46Well, he says Bert's in the hospital.
2:06:47Did you know?
2:06:47It's just out of the state anyway.
2:06:51Go ahead.
2:06:52I don't have it.
2:06:56What do you mean?
2:06:56No, I don't have it.
2:06:57You don't have it?
2:06:58You can buy it again.
2:07:00Yes, I have it.
2:07:01You can buy it.
2:07:02Let's buy it.
2:07:03So I blew the whips and then put the house thing, put together the house thing and put it in too.
2:07:07And put it, put it in.
2:07:09We don't care.
2:07:11Yeah, I can see that there.
2:07:17The president's already talked to Mills, but you're obviously calling to confirm that he's calling to me.
2:07:24And, uh, so the emails from Ernst & Swann will be on the phone.
2:07:43Standard appropriations.
2:07:44And the banking currency notes.
2:07:45Uh, what about the, who are the ranking members of the German Economic Committee?
2:07:48Who are the ranking members of the German Economic Committee?
2:07:56No, no, no, no, no, no, no, no, no, no, no.
2:08:22And we'll do, you know, we should try to make lanes available for everybody else.
2:08:27What you have to do is find out if they need transportation and then see what we can provide on a pickup basis.
2:08:39We did transportation in the U.S., not in Europe.
2:08:44Okay.
2:08:44I'll check with you a little bit.
2:08:47Right.
2:08:47I like how Burns got me to tell you.
2:08:49All right.
2:08:51He said that.
2:09:04Somebody ought to cover this meeting.
2:09:05I think I'll have to tell Connie that he did it well.
2:09:11I don't want to watch it.
2:09:13No, everybody can watch it.
2:09:16It may go on a while.
2:09:17I hope they'll just keep it wide open.
2:09:20It's a funny man.
2:09:25He did it well.
2:09:27That means a total command.
2:09:30Thanks.
2:09:31He's basically an apologist for leadership qualities.
2:09:33Some have got it and some haven't.
2:09:37That's exactly it.
2:09:43Ronnie knows probably his fucking foe.
2:09:49He just comes back and gets the same.
2:09:53So, well, I would be good at this later on.
2:09:55And the crusher would be good at it.
2:09:59He just keeps bringing it up like it never occurred to anybody.
2:10:02I mean, not most of them are.
2:10:14Or is he off the boat?
2:10:16He got in late last night.
2:10:18But can you imagine, just think of that short time, you get on a boat, and here you are, right in the inner circle of this administration, you get on a boat, you come back into port on Sunday night, and the whole world has turned 180 degrees, and you didn't know it.
2:10:34It just shows you what can happen in a couple of days.
2:10:42Oh.
2:10:43Apologetic makes a scream.
2:10:44It's just, it's just so sorry you wasn't available to be available.
2:11:03which is an awful lot.
2:11:05My governor shows basically that, well, he's a lightweight anyway, but he does show a total, just the way a lightweight would react when allowed to be against you.
2:11:15And it couldn't be better, I think.
2:11:17It couldn't be better anymore.
2:11:18It shows partisanship.
2:11:19It's a smart ball.
2:11:20It's the best possible anti-gay you could have had.
2:11:22He's small.
2:11:25Well, he's considered a joke.
2:11:27Nobody pays any attention to the government anyway.
2:11:33It's good.
2:11:33It's good that he's the leading anti-spokesman, which he is now.
2:11:36He's the only guy, the only spokesman who's come out solidly against him.
2:11:42And he's probably the only one who will.
2:11:46Nobody else is going to be backing him.
2:11:48They can't come out.
2:11:49They find faults with him, but they sure as hell can't come out and force word against him.
2:11:54I remember how the press used to bat your team when I was out in office.
2:12:00to say, to always comment on whether I approve or disapprove of administration actions.
2:12:05They've had those actions get away with murder on this.
2:12:08Colson said as a person, he has people call their offices, that the pressure should be out of them, not fire.
2:12:14I don't think they go after them.
2:12:15Why don't they?
2:12:15Do you?
2:12:16I think they go after them to degrade it, and some of them are smart enough not to say anything.
2:12:22You know, like they did on Muskie and Teddy after China.
2:12:26He said he doesn't have a comment, or he'll have a comment if Muskie's thinking about it.
2:12:34It's a hell of a lot smarter than coming out with the wrong thing.
2:12:36Or coming out crazy.
2:12:38I mean, it looks indecisive, but...
2:12:46There was no way...
2:12:48We need to tell Helen that it was terribly important to get it set right to begin with.
2:12:52Making all the phone calls was a good thing.
2:12:54Just give her some time.
2:12:55And if it had its leadership, it would be a good thing, because if Joseph followed in Congress' right way, Helen would get the...
2:13:04And we'll also get them sealed in before they get the second thoughts on having Wilbur on a positive kick that's going to have a big difference.
2:13:13Have the legislation ready and all that sort of thing.
2:13:16And Mike Kell, he's got to go if he can.
2:13:28And that stock market is at what?
2:13:3418 points in the first hour.
2:13:36First hour?
2:13:36On 9.5 million shares.
2:13:37They'll have to close, I would assume, if they can't handle that kind of market.
2:13:47At that rate, it's a 50 million share day.
2:13:53We'll have a record today.
2:13:55The record's 32, isn't it?
2:13:58We had a, we were going to set up a pool up there as to what the market would do.
2:14:03And my thing was 20, up 20 points on 35 million shares for a new record.
2:14:06And that looks fairly good, unless they close the exchange.
2:14:11Well, they'll start to, it'll come off some.
2:14:12Yeah, it won't go up, it'll go out more than 18, I would think.
2:14:15I think if they go up, we usually don't care about that.
2:14:18Everybody has second thoughts.
2:14:24It depends on whether it's lying there.
2:14:25If it's lying there, they'll get in and just keep going.
2:14:26If the funds get in, that's the big thing.
2:14:27Those fund people, you know, they're so conservative that they think that they're going to miss an opportunity.
2:14:31You've got some by-orders that are probably in and have... A by-order went to that market, you can be sure, and those guys are going to roll it and they're heavy.
2:14:51That'll be it.
2:14:51That'll be it.
2:14:52I'll be involved.
2:14:53On the other hand, it could poop out.
2:14:54Like that other day we had, I remember it was a big day, and the market soared up, and then by the time the day was over, it ended up off a couple of points.
2:15:03But it wasn't really up that much, was it?
2:15:05No, and it didn't have this kind of volume.
2:15:06The more important thing, really, is the fact that these people are...
2:15:26The speech came over right when I thought about it.
2:15:29I think it did.
2:15:29You just can't worry too much about it.
2:15:36If I had to worry about it, as you said, I'd make every speech the best I ever can.
2:15:40I've just got to go make speeches.
2:15:42Well, I didn't need to.
2:15:43I just worried too much about it.
2:15:45I saw that everything had come up.
2:15:49I think you were trying to put more in the inspirational type of thing in this than either was needed or was possible when you're covering that much substance.
2:16:02And when you throw, Christ, you throw that kind of a load at people, they can't see through all that to the inspiration.
2:16:08I think you make your press on the inspiration, but I don't think that's what you're going to get played back because the other overrode it.
2:16:13Yeah, the big difference is I still listen back to it.
2:16:18Like, you didn't need any inspiration on that.
2:16:19You didn't use any, but during the piece.
2:16:21But, you know, 300 inspiration.
2:16:22Or 68 words, or whatever it was.
2:16:25You know, the question is, the economy now starts to take off, some other people start to buy.
2:16:44I just don't see how they can help him.
2:16:49Give him all the tax money back and get those damn businesses going.
2:16:57Well, they don't have the money yet, you see, Bob.
2:16:59That's the parts we're not getting yet.
2:17:01They've got to pass the investment tax credit.
2:17:04They've got to pass the excise tax.
2:17:05People have the money in their pockets, and now they're being told they're big.
2:17:08They don't believe they're going to pass it.
2:17:10You said we're going to have people think that's how it's going to come out.
2:17:15You know, on the investment tax track, that's why Romney's objection to that is wrong.
2:17:25Giving them leeway.
2:17:25Screw the goddamn leeway.
2:17:27Make them put their orders down.
2:17:29Make the factories go into crash production to deliver the investment materials, the machinery and all that.
2:17:37That's what you want anyway.
2:17:39Then they're adding more people to their payrolls.
2:17:40They have to go into running around the clock and that kind of stuff.
2:17:43I'm sure working 24-hour shifts in the machinery, heavy goods businesses, and add a lot of tool and die workers to the payrolls and it's all on ceremony.
2:17:56The impact of that could be just fantastic.
2:18:00And top that with getting the automobile people cranked up.
2:18:07It's an important thing.
2:18:08I want Wilbur to get equal credit on the Japanese thing.
2:18:10I want Peterson to fill him in totally and say that we're not going to, that we want him to share the rights on that.
2:18:16Actually, I don't know what I'm going to do there.
2:18:18He should call the president.
2:18:19His direction is we're working together.
2:18:20I don't know that the president
2:18:37but that we have to have in mind the fact that that Japanese announcement must not be made now in a belligerent way that we can put it up on there, but I guess it's all over, over a period of time.
2:18:48We have the advice now, or if we can, of course, what is, we're going to negotiate now with the Japanese, and the negotiations will succeed.
2:19:05I know that
2:19:06All that Maury stands is probably sugar.
2:19:10And if he wasn't there, it would be wrong.
2:19:15It wasn't that Brown.
2:19:21He's always sugar.
2:19:22It's like, you know, they're all part of that.
2:19:25You know, you couldn't have it.
2:19:28You can't have a discussion.
2:19:31It was basically even that's why he's making decisions.
2:19:34But look at the dumb questions he asked.
2:19:38He didn't distinguish himself much.
2:19:41He wanted to know how much money was in one breakdown or something.
2:19:46He didn't understand how the automobile tax thing, automobile import tax was going to work on the 6.5% because they thought it was 10%.
2:19:54They're the kind of questions that you should go back and ask somebody.
2:19:59If you don't ask in a meeting, they're not writing questions.
2:20:06And if he didn't understand it, they're very simple questions to get asked, and they're not germane.
2:20:13He doesn't really have the big, the comprehension of the big play about this point.
2:20:18And he would bring it to the others.
2:20:19They're all living their own little lives.
2:20:23Rogers does.
2:20:24He sees the big play.
2:20:25Packard didn't, actually.
2:20:28Mitchell understood it.
2:20:30He always introduced it.
2:20:31Don't respond to it.
2:20:37It's too bad in a way, but you can't plan.
2:20:55attendance at those things where they're working sessions on the basis that we'd like to be there.
2:20:59You've got to have the people you need and only the people you need.
2:21:02We had the people we needed.
2:21:04We had four people from the fire.
2:21:06We had two or three staff people there.
2:21:08The sign was important.
2:21:11The builder was important.
2:21:14And the library was important.
2:21:17That was all we needed.
2:21:19And you're going to call your lawyers.
2:21:21They had to have all the legal technique out.
2:21:23And we did it much better.
2:21:24And you realize it was not much better.
2:21:26If you had had wrong, even the boarders did that, you could have done it all.
2:21:30Right?
2:21:32You couldn't have done it.
2:21:34You just would have bogged down.
2:21:35And you would have been running around, pulling and tugging at the fringes.
2:21:51The markets have gone up 18 points in one hour.
2:21:53That's a hell of a chunk.
2:21:54First half hour it was up 8 points or 9 points.
2:22:01And 3 million shares in the first half hour.
2:22:06So it was accelerated in the second half hour.
2:22:13People were waiting to see what happened.
2:22:20This morning, it's hard to get things going.
2:22:23You know, the people who are just coming in from .
2:22:28No, because, see, we put Pat back on the other speech.
2:22:34You'll have it as well.
2:22:35Well, we had the other speech.
2:22:38Not on the morning.
2:22:40Tuesday morning.
2:22:44On the legion.
2:22:48Legion, yeah.
2:22:50Do we have any cameras, please?
2:22:53Uh, ready?
2:22:54Yes, please.
2:22:55Uh, step out on the middle of the section.
2:22:58The middle of the section.
2:22:59I've got to have...
2:23:01I've got to... See, with this legislative meeting, I won't have any time to work.
2:23:05I'm going to step out at the end of the meeting.
2:23:07I'm going to have to have it at 7 o'clock tonight.
2:23:12All right.
2:23:19Mark, it's falling off now.
2:23:22Stuck by 12 million, that would be two hours.
2:23:26Volumes 15 million of 24.
2:23:28And the motor stocks have no...
2:23:35They're probably holding.
2:23:38Oh yeah, the floor carriers.
2:23:43Why would they do that, Bill?
2:23:46I want to talk to you about it.
2:23:47Well, no, because they probably want to, they've got to start out the buys.
2:23:52They've probably got, you know, on that basis, they've probably got 20 million shares of orders of motor stocks.
2:23:57Oh, is that right?
2:23:57And the traders have got to sit there and figure out, they may not have any sales.
2:24:01They may not have any sellers.
2:24:03Of course.
2:24:06Who the hell would sell a motor stock today?
2:24:09Who the hell would sell it?
2:24:11That's what it is.
2:24:14And that's what they get into it, when they get into it over and over.
2:24:17They just suspend people.
2:24:19People who sell the, the, the, the, the, the, the, the, the, the, the, the, the, the, the, the, the, the, the, the, the, the, the, the,
2:24:43And so you had, you opened with probably billions of dollars of orders.
2:24:47It's still going up then.
2:24:50Hell yes.
2:24:5124 points.
2:24:52It was only up 18 on the first hour.
2:24:54Two hours.
2:24:55How much are your orders?
2:24:5615 million.
2:24:5714 and a half million.
2:24:58On two hours.
2:25:00It's got three more hours to go.
2:25:06Is that a record?
2:25:08Unless they close it.
2:25:09They may have to close it.
2:25:10They may get hung up.
2:25:13It's a wild day.
2:25:14I wish that I could go out to New York and drop by the market.
2:25:23But you can't.
2:25:24How?
2:25:26You're going to New York tomorrow.
2:25:32Drop by.
2:25:33Just go up early.
2:25:33Would it be, or drop by after your breakfast with Rockefeller, drop by Wednesday morning if it's still rocketing along?
2:25:39Well, it won't be longer than that.
2:25:43Well, I was thinking of going up, uh, maybe going by the, by the law firm and basically, you know, be a sort of stop and buy.
2:25:54Money would send them all over and see the market and just step up there.
2:26:02But they closed, closed at 3.
2:26:04I know, I know, but...
2:26:04But they'll all be on the floor trying to untangle it, because tomorrow will be a big day, too.
2:26:09No, I should be there.
2:26:09But we think that at 10, 30, 12 will be quite good.
2:26:12Tomorrow?
2:26:14Yeah.
2:26:14Then just sit around New York until afternoon.
2:26:17Well, we're back on stage.
2:26:19Sure, I just said we're back here.
2:26:21Go up to the closing tomorrow.
2:26:24Right.
2:26:24What time's the market close?
2:26:263 or 8.30?
2:26:273 o'clock that time.
2:26:28True.
2:26:29Right.
2:26:29No, 3.30.
2:26:29Good.
2:26:29I don't know.
2:26:30They've been fooling around with the closing.
2:26:32We'll find out.
2:26:32We should get out there.
2:26:34We didn't finish this meeting at 12.30.
2:26:35We might be out at 1.30.
2:26:37We got there at 2.
2:26:39We landed the Wall Street elephant.
2:26:41Just go right into the exchange.
2:26:48Go over there.
2:26:53Why don't you come by and see how it's being done?
2:27:04And you did it.
2:27:06I mean, they could call you and say you ought to come up and watch it.
2:27:10Look at what you did.
2:27:15I don't think it is.
2:27:16My confidence is that this economy is damn strong.
2:27:21You know what I mean?
2:27:23What I mean is there's a lot of purchasing power and a lot of stuff out there.
2:27:31and a lot of potential confidence.
2:27:32And I think the confidence has been eroded by this.
2:27:35We've often said, well, yeah, but that's immediate.
2:27:37Now, it seems to me that this is the thing.
2:27:42This is going to make it tough for the media, you know.
2:27:44Oh, they'll mind when I piss on it.
2:27:47But they're going to take a few days, isn't it?
2:27:52And with their numbers and this and that.
2:27:54But nobody's going to pay a hell of a lot of important attention now to the CVI for this month.
2:27:59This action was stated before, you see.
2:28:02See, the CDI director will be for a month and it's not covered.
2:28:05So I say, well, that was fine.
2:28:07I know it doesn't pay much attention to the unemployment figure for next month because they know the action.
2:28:11No matter how bad they are, we can just shrug and say, well, that's why we took the action.
2:28:16So we're in a position now, retail, sales, whatever it is, we're in a position to say, well, great.
2:28:30Sir?
2:28:31You don't know, because they could have had so much buy order stuff piled up that it could just keep on going up.
2:28:49See, still got 20 points to go to 900.
2:28:52Yeah, it could go to 30 today.
2:28:58What's the biggest game, 26?
2:29:00It was thirty-two.
2:29:00It wasn't thirty-two, was it?
2:29:01It wasn't thirty-two.
2:29:29It was thirty
2:29:32And did you hear the report on Annenberg?
2:29:35Annenberg called early in the middle of the night, which would be, you know, review the middle of the night for him, to say that he had had dinner or something with Justin Dart and Glenn Firestone.
2:29:51I think.
2:29:51Well, maybe he was on a list.
2:29:55Maybe he was out west.
2:29:56Maybe he was calling you out there.
2:29:57I'll bet that's it.
2:29:58He's out at Palm Springs.
2:30:00He wouldn't be at Palm Springs now.
2:30:02Well, anyway, he was with Dart and Farson.
2:30:04And Dart has really turned off on us.
2:30:06He's been very, very negative.
2:30:09And Dart had written a letter to you that was apparently very, very bitter and bad and kicking you around and everything.
2:30:18And they discussed this at the dinner in Firestone, and Annenberg had been saying, don't send that letter.
2:30:22You shouldn't do that.
2:30:23And they finally talked him into sending it to me or to John Rowland, rather than to you, because he's an emotional jerk.
2:30:30But anyway, Annenberg said, look, Josh, he said, just sit tight.
2:30:33Because in the next few weeks, I just have a feeling, I just have a feeling in the next few weeks, the president's going to make some moves, and that you're going to have a feeling that he's doing just the right thing.
2:30:48And Hamburg was just ecstatic last night, because right after that, he said, God, you've made me a prophet in my own time.
2:30:53And he started to think, I really know what's going on.
2:30:59And I was so, I said, right, I've never heard about it.
2:31:01Because right after that, On You came.
2:31:04It may have been the night before or something.
2:31:06But anyway, he was...
2:31:08Well, it was very exciting.
2:31:10I think there's a lot of that.
2:31:11These guys believe the media.
2:31:13You know how weak the businessmen are.
2:31:15They don't pay any attention to their own statistics.
2:31:17They look at what they read in the papers here on television.
2:31:20And I think that's just what we've been saying.
2:31:22And we know each one of them knows his own business is good, but he reads that everybody else's is bad.
2:31:29Yeah, those are cracking points.
2:31:30A business is better than something about business.
2:31:32Yeah.
2:31:34So they've all said you gotta do something.
2:31:37They didn't know what to do, and it didn't really matter to them whether you did it, except they just thought you gotta do something.
2:31:43So you did.
2:31:48If you look at this only as a psychological move, forget about the substance, it could be just, if everything was right, which our people felt it was, basically, except that we just couldn't quite kick over the edge there, this sure may have done it.
2:32:05And then if you release, this is like kind of breaking a dam, you've released everything that's been pent up back here, it can just float for quite a while.
2:32:12I kind of feel the same.
2:32:18There's a dam, and there's a lot of, I mean, I'm pretty sure there's a lot of steam in the boiler or something.
2:32:25While Milton on the merits doesn't like what you did.
2:32:29he may still be wrong from the psychological viewpoint that you had to do something to kick this oak out.
2:32:35The other thing about the freedom of the environment, look, we had a, and he probably said there was a political problem.
2:32:42The political problem being that regardless of what we, that we had a situation where they, that the Congress was going to act.
2:32:59and impose permanent wage and price controls.
2:33:03That was the next move.
2:33:06And I had to beat it to the punch and do something that was not that bad.
2:33:18That's a hell of a good argument for freedom of speech.
2:33:21That's absolutely correct.
2:33:23You know, they're all 12 Republicans.
2:33:26The Democratic leadership, they were going to introduce it in September the 8th.
2:33:31We had to beat them to the punch on this and do something that would be less damaging to the economy than that.
2:33:41And somebody would be on the phone.
2:33:44You might ask, George, that's my frank judgment.
2:33:47I don't like this any better than he does, but we've got to beat them to the punch.
2:33:57John McCartney, who provided a hundred copies of Arthur Shenfield's The Roots of American Discontent, which you had requested, is in the lobby waiting to see Rose.
2:34:08She thought you might want to have him come in for a handshake.
2:34:17Oh.
2:34:17You know, I have a very good speech.
2:34:19Oh, you see, this is the president, Rockford Cotton.
2:34:21I'll forget him.
2:34:26I'll just have her.
2:34:30He's just lettering the books.
2:34:33I don't like his hand.
2:34:36Tell Steve to come in.
2:34:50Tell him.
2:34:51Rose?
2:34:52Uh, Mr. Connery had the books and everything.
2:35:00Oh, yeah.
2:35:02Yeah, yeah, well, you bring him in, and I'm working here on setting up the legislative leaders.
2:35:08You can bring him in, and I'll just shake his hand.
2:35:11And, yeah, yeah, yeah, fine.
2:35:15Bye.
2:35:16Yeah, bye.
2:35:27And this is the speech, you know, he says, included as recommended in the .
2:35:29This is the touch of a in the night.
2:35:29That's the .
2:35:46The Shepard-Rockford format of setting up the myths lies about the U.S. and then knocking them down.
2:35:48Good Catholic, great American, Vince Lombardi mentioned economics as per late suggestion, Catholic schools, religious education.
2:35:52Added also is a little economic nationalism, which is a peddle the president was touching on Sunday night.
2:35:54That old Republican standby so we love of America first years.
2:35:55But in seriousness, American nationalism is a theme that has not been played in the post-war years, and there are always those
2:36:18Another thought that I would like, no thank you, that I'd like to get somebody to do over there, and I can't tell Christ, for my family department in Columbus, I'd like to do something on Disney.
2:36:38What a knight is.
2:36:39He was a man.
2:36:40He was a defender.
2:36:42He was a man of character, et cetera.
2:36:44The qualities of a knight.
2:36:46The qualities of a knight.
2:36:49Somebody who was knighted.
2:36:50I haven't heard about it.
2:36:54Somebody can get through.
2:36:55I forgot, but I remember reading it years ago.
2:37:03Good idea.
2:37:06Strike the personal strength.
2:37:08Elevate the guy a little bit.
2:37:16Oh, he's probably over there.
2:37:26How many?
2:37:28How many?
2:37:36Former governors of Texas are on all three television networks live at once.
2:37:40Yeah, I guess you're right.
2:37:45As in all, as the, frankly, the architect of this big, you know, policy, people are chipping and so forth.
2:37:53He's looking good.
2:37:55You're not working any hardship on him.
2:38:02When you look at the match of the two men, the vice president sitting next to Conley there today, Conley's command and all that, and the vice president with this sort of heavy little petulant question that didn't really fit.
2:38:19He doesn't have it.
2:38:20That's the problem.
2:38:21We've just been around this track and, uh,
2:38:28Yeah, we did it.
2:38:29We did.
2:38:30You may remember on the media.
2:38:34You knew that wasn't his idea, of course.
2:38:39Buchanan.
2:38:41Buchanan.
2:38:42Remember, I was talking to Buchanan.
2:38:43I said, I get these questions.
2:38:47Buchanan had a kind of...
2:38:49I know.
2:38:51He wrote a speech.
2:38:51So he sort of planned it.
2:38:57He's giving you 1,300 words with indicated cuts to 1,000 if you want.
2:39:07Oh, 1,300 is fine.
2:39:08I just saved myself a little bit on this trip.
2:39:15I really don't think I should put out too much right now.
2:39:28as America has heard at length from those who detest or disparage this land of ours.
2:39:32It's time those of us who love America as she is demand an equal time.
2:39:35Okay.
2:39:35He opens with a New Testament parable.
2:39:55Do you have a copy of the book, Rose?
2:39:55Yes.
2:39:55Why don't you bring one of that in?
2:39:56Well, we, uh...
2:40:22Uh, we were, I was so impressed with your, uh, well, it doesn't matter that you're riding a camera, but, uh, particularly the way you tore it, that's, you know, I got, I got, I got, I got, I got, I got, I got, I got, I got, I got, you know, I, I, I, I, I, I, I, I, I, I, I, I, I, I, I, I, I, I, I, I, I, I, I, I,
2:40:49I was going to say there's a lot of Xeroxing.
2:40:50I've always been Xeroxing that for many days.
2:40:51It's a pretty terrible thing that some people in the world have to say.
2:40:52But the fact of the matter is that I've been so many years looking at it.
2:41:06When you, uh, did you, uh, how do you want people to react to this?
2:41:07They must react.
2:41:07Oh, people's not going to react to it.
2:41:08They will.
2:41:08They will.
2:41:09You see, it doesn't mean everything.
2:41:10I know, I know.
2:41:10But you're saying things that people need to hear.
2:41:11I hope so, yes.
2:41:12Here's a little bit of my love for your people.
2:41:13Ha, ha, ha, ha, ha.
2:41:32But, after all, we in Europe have a direct interest in this program to us.
2:41:33We're all in it together.
2:41:34Yes.
2:41:34Let me talk to you about the issues you've been about.
2:41:35The whole business, you know, the air, the power, the central programs, flying all that.
2:41:37I have pointed out on several occasions, actually, that we didn't ask for this position.
2:41:39And frankly, we don't take particularly any trade initiative in having it.
2:42:00as a result of the great tragedy of World War II.
2:42:03The only Asian nation that could be the defender of freedom in Japan is...
2:42:05I'm not capable of doing it.
2:42:05Europe, together, might, but it will never be together.
2:42:06The Germans, who could do it, are denied it.
2:42:08The British can't do it, the French can't do it, the Italians can't do it, either, so we are together.
2:42:11So, here it all is.
2:42:11And so, we, together with them, can...
2:42:12So what we have to do is to maintain the...
2:42:30Certainly the strength, also confidence.
2:42:31Confidence, sense of destiny, sense of leadership.
2:42:39Don't you have any money?
2:42:39I don't have any money.
2:43:03Well, I'll stretch.
2:43:03Let me give you a perfect sandwich of visitors.
2:43:05Do you want to have it?
2:43:15It doesn't seal, and it doesn't get up your scissors.
2:43:17I'm going to have to do a sequel to that.
2:43:17Great, great.
2:43:18You are going to have to get it out.
2:43:18As a lecturer, write more in the 80s.
2:43:19Something to do with it.
2:43:20Right.
2:43:20Yes.
2:43:20Good.
2:43:20Wow.
2:43:20Appreciate it.
2:43:20Thank you.
2:43:55I think I'll let you know what kind of song it is.
2:44:19Well, here it is.
2:45:01Tommy's still on?
2:45:03He is?
2:45:04How's he doing?
2:45:04He's curving above my head.
2:45:18Yeah.
2:45:18Yeah.
2:45:18Tommy's still on.
2:45:25Ron is watching him.
2:45:26They're gonna essentially go right.
2:45:37It's so interesting how the world changes.
2:45:38It's such a fascinating thing, isn't it?
2:45:39The power you've got to change it.
2:45:40It was taken after some time.
2:46:14I'm very relaxed about that situation.
2:46:19But he can't be now.
2:46:21We're going to make the Russian announcement.
2:46:26I mean, where the hell is Vietnam?
2:46:29These sons of bitches are having a hell of a time, aren't they?
2:46:39You know, you were hungry.
2:46:40All he can say is, instead of winding down this waterway, why would you want to hand it?
2:46:44Oh, not the tracksuits.
2:46:46Why the hell would he say that in 68?
2:46:50I wish our guys would pound them harder than that.
2:46:55I know a bit of that.
2:46:58That's just fine, except when it's not there, how can they keep harping on it?
2:47:03When it's not there.
2:47:07Part of your opposition is sitting in a meeting this morning trying to figure out what we can do now to screw things up.
2:47:26I'm not sure what I did.
2:47:30The poor, the black.
2:47:33The young is tough, because they know the young is going to be turned on by both foreign policy and leadership.
2:47:40They ought to say it anyway, though, to try and psych them out.
2:47:43The young and the black, and maybe the cities.
2:47:45He's turned his back on these great issues.
2:47:50His only issue is in order to take business.
2:47:55He's just working for big business.
2:47:57Well, okay, that's not a line that seems neat, does it?
2:48:01Is it too bad a line to draw?
2:48:05You're concerned about the young, the black, and the poor, and you're doing what you can, but you're not going to give the whole bundle away to them.
2:48:11And if the young black, all you need is to have the old white and not-so-poor feel that you care enough about the young black and poor to be doing what needs to be done, you ought to be in a pretty good position on that.
2:48:33The welfare reform kick is a bad twist.
2:48:36That isn't going to hold up.
2:48:39What the hell if you proposed it a year and a half ago?
2:48:48No, I proposed it two years ago.
2:48:51Two years ago.
2:48:57And they didn't litter on it for two years.
2:48:59Now all you've done is just face the reality that they're gonna diddler on it another year, so you might as well... That line should be made.
2:49:05I proposed this two years ago.
2:49:06Congress has delayed it for two years, and that delay makes it necessary to delay it by a year.
2:49:12The blame is on the Congress, not on us.
2:49:15We've got a bad shot of trying to hate on that.
2:49:41Do you want him to hit that for us?
2:49:43Yeah, just that he could be called and also be told that H.E.W., I think earlier, should call.
2:49:49H.E.W.
2:49:49just said they couldn't hear any channels and just say we're still pushing for him.
2:49:54They've delayed it for two years.
2:49:57It's impressive.
2:49:58You can't get it in place.
2:50:13I hope never to get it replaced.
2:50:20You're going to have to tell him.
2:50:22Make a trip to get it past the election, then he can sign it and go back.
2:50:29Go back?
2:50:29At least get a study welfare roll.
2:50:30He buys it, just get the welfare rolls.
2:50:36Put in some stiff work requirements for what's left.
2:50:40They've got to disagree that basically these people who've got the well-versed on color, these Negro, frankly, it's, you know, did you well on this, this military Negro kid.
2:50:49Probably 75% of the problem, I think, is sad to have a problem with public charge.
2:50:59We encourage it by going on and on, and basically,
2:51:06encouraged.
2:51:09They have so many other kids.
2:51:18That's the other side.
2:51:19Yeah, matter of fact, I should do pretty good because he knows that.
2:51:22Well, he made his recommendation.
2:51:26You know, it's good.
2:51:27I carried it out, put it over the directions of
2:51:32both Parker Burns on the money side, and Gerald Schultz on the wage price side, which he knows has got an arm.
2:51:37And he knows, too, that when he came back and we changed the timing from September 8th until now, that he came back and recommended that I go through a very, very tough night, because he knows I've got other things to do, too.
2:51:55But he's done too great, done all right.
2:52:01Well, Nick did go well over the weekend.
2:52:16It was a good operation.
2:52:19He had a chance to run enough of it.
2:52:21You know, he likes to run runs.
2:52:31We know that in his lead in running, in a very different way, Schultz, Schultz runs things on.
2:52:36He's buttoned down.
2:52:38He goes, now you do this, you do this, you do this.
2:52:42And we'll keep building Schultz.
2:52:46He's doing fine.
2:52:50It's more that he runs on for his trip.
2:52:53He can be a car all day long if he wants to.
2:52:57Now he's got to try to do some of the big work.
2:52:59And he will.
2:53:06I think you'll find Arthur will do everything he can publicly and privately to make a code.
2:53:12Now, I think he got himself on that anti-wicked and kept, you know, kind of getting himself out further and further.
2:53:23Inevitably, much of those Jaws, you know, Jaws.
2:53:26Yep.
2:53:26Three would have got him, or two would have got him.
2:53:37Yes.
2:53:37I think it was right.
2:53:39And I don't think it created any crisis.
2:53:44No.
2:53:45I don't think it created a crisis.
2:53:52It created it, but we had to do it quicker.
2:53:57I'm not going to lie to you.
2:54:02But as it is, you could portable on horse people to work and you can get stuff done in 48 hours in 72.
2:54:08Well, what's really good is doing it now instead of September 7th.
2:54:12What's that?
2:54:14What's really good is having done it now instead of September 7th.
2:54:17Because you would have had Schultz and Conley out there to discuss it next week.
2:54:24And you would have had to agonize around and think about it.
2:54:27What time is the State Department briefing?
2:54:323 o'clock.
2:54:38I think it's a good time to show your face.
2:54:47Yeah.
2:54:47Yes, it is.
2:54:48See, they had a series of observant .
2:55:00put those together and started releasing the powder and got the agency heads and the sub-cabinet guys and some of our key White House people.
2:55:17It, uh, if all they're doing, it may be a very good test for you, but I think you ought to leave.
2:55:21You ought not to go to Texas.
2:55:21No, I'm not going to do that for you.
2:55:30Or are they all going to be there?
2:55:32There's Daryl, Connelly, Arthur, Schultz, and McCartney.
2:55:38Yes.
2:55:39Yeah, of course.
2:55:46I'm not going to press it.
2:55:51It's 30 minutes already.
2:55:52I'm just going to...
2:55:59Is he still on?
2:56:02Showing sign of closing.
2:56:09Where are they?
2:56:13Where is he?
2:56:19He's in the trailer.
2:56:24Should another guy go on the air if you want?
2:56:27Mark's quit in 45 minutes.
2:56:29Even on this one.
2:56:30Especially when you're on the air.
2:56:35Spent us up.
2:56:35Like in our meeting here yesterday, they started going, and I finally, because Tommy had asked me to open the meeting so that he could step up and not be convenient.
2:56:45So I did.
2:56:46Went on for a while, and they were starting to get into the, you know, well, what do you do about carrots if lettuce goes up?
2:56:52I'm trying to send it, and it got cut off.
2:56:55So I said, the specific questions we can cover later.
2:56:58You've got the general feel of it, and it was cut off, and it kept going on a couple more, and
2:57:03You stepped in again.
2:57:04I didn't appreciate that.
2:57:06Absolutely.
2:57:06It deteriorates at a certain point.
2:57:08Well, it deteriorates when you get in there.
2:57:09You get in there, of course, and you say, is it the wrong thing?
2:57:12I'm sorry.
2:57:13Don't be.
2:57:13I can see it.
2:57:14I can't get a call in there.
2:57:37I don't think he is.
2:58:18Compared to the other way of gardening in the United States, you'd be wearing a halo on a sackcloth.
2:58:24You think I can say that?
2:58:27Why not?
2:58:29No.
2:58:29No, I guess you can't.
2:58:32They just did it really weird.
2:58:34Why in the United States should you wear a halo?
2:58:50We've got troops from America this weekend.
2:59:04We're so wealthy, we can support a whole class of North Koreans.
2:59:09Let's kill the bus at Belly Acres in Monterey.
2:59:14That's not bad.
2:59:17Belly Acres.
2:59:36Oh, Christ, what is the matter?
2:59:53It's quite...
2:59:53It's...
2:59:58It's...
2:59:59Excuse me, Canada 6.
3:00:01In the office, what I can do is...
3:00:03I have a copy of the letter to preach to you.
3:00:07Okay, getting back to the president, the McLaughlin speech draft, the original one from the Knights of Columbus.
3:01:29launched a war against Western society.
3:01:30Well, I'm going to call on him to correct me if I'm being rude.
3:01:32Well, if it's a confrontation, I think it's extremely wrong, Senator.
3:01:33Well, I'm going to call on him to correct me if I'm being rude.
3:01:58He predicted that the wage price freeze in the package that he announced would bring a period of stability and inflation under control.
3:02:05He said this was the most sweeping, significant and courageous proposal made in the country in the past 20 years.
3:02:15He discussed the effects this would have internationally and internationally.
3:02:23He announced the bipartisan leadership meeting
3:02:32Those two at the outset.
3:02:34He hit the point that you were opposed to government controls on the economy, that you have long felt and you still feel that the vitality of this country is the free system, the spirit of the system, and that we are not trying to – you are not trying to supplant it.
3:02:53He was asked why now, and he made the point that there has been extensive discussion over the past months on these things, but he refused as president to take a single step and insisted on a comprehensive step.
3:03:23But as he said on Meet the Press, any president who's bold enough to bring off, as he said, the China initiative, is bold enough to move domestically in these areas.
3:03:34And he said he did that.
3:03:35They pressed him a little bit on his statements, you see, but.
3:03:42He said, look, the American people would think they had a dote as president of the United States if the president of the United States announced a policy and never assessed it, reviewed it, or moved to different or new policies.
3:03:57He said, the American people expect a president to accept the realities of the moment.
3:04:02He said, the realities three months ago are different than the realities of today, the realities of tomorrow.
3:04:11Yeah, did well.
3:04:12He said, I said four things to you when I was there in June of 27.
3:04:14He said, I said there wouldn't be wage and price controls or wage and price boards.
3:04:18There is no wage and price board or wage and price controls or wage and price boards.
3:04:22He went through them.
3:04:24He said, now, I did say something about taxes, and I'll eat those words.
3:04:26He said, but I've got a lot fewer words to eat than a lot of other people.
3:04:39When I said my assessment is it was a good confrontation that people like to see.
3:04:40A lot of them don't understand what they're talking about, you know.
3:04:42But the press took them on.
3:04:42As you know, you can perform in a second.
3:05:18I know it was a good confrontation.
3:05:19That's what people want to see, that you just came to apply for it.
3:05:21And I'm glad that you repeated that talk about eating words.
3:05:22That's a certain thing that people, that any president who didn't do something would be a dole and so forth.
3:05:24But how do you feel about it?
3:05:25How do you feel?
3:05:54You, you.
3:05:55Yeah.
3:05:55Wow.
3:05:55Oh.
3:05:55Don't.
3:05:55Don't.
3:05:55Everyone.
3:05:55Everyone.
3:05:55And you know, we don't need to be concerned on the timing that we had to have been at that state, but with regard to
3:06:38the full-time amp assessment.
3:06:38Yeah.
3:06:39Oh.
3:06:39Oh, yeah.
3:06:39Well, you know that if you monitor any kind of state department direction,
3:07:07You're going over to the spare car.
3:07:10That's for you.
3:07:42Yeah.
3:07:42Yeah.
3:07:42Yeah.
3:07:42And you do the wrap.
3:07:43And I'll do the opening, and you do the wrap.
3:07:44In fact, I'll do the opening, and then I'll call you to take over, and then you call the others.
3:07:46Or, okay, listen.
3:08:23All right.
3:08:25Well, I'll be over there so you can sit down and get a little look off every tree.
3:08:44All right.
3:08:46He's going to be here, too.
3:08:47He's supposed to be here all the time.
3:08:54He also made the point about the devaluation of the dollar, in other words, stability, and addressed himself to heat.
3:08:57He was asked a question.
3:08:58He said, I don't think a lot of people are going to worry about the devaluation of the dollar now.
3:09:01I haven't seen a lot.
3:09:01He was asked a question.
3:09:02Mr. Secretary, one of the newsmen I didn't know, he says, what about a poor student who's over in Europe on $5 a day?
3:09:05And the Secretary said, well, it might be worth $6.
3:09:22Huh?
3:09:22He said what?
3:09:23He said, well, it might be worth six.
3:09:24One hundred, the next price.
3:09:25He's done good with stuff like that.
3:09:26Yeah, he is.
3:09:26Well, that's not what I'm here for.
3:09:27Jackass is your winner.
3:09:27I mean, there are a lot of things.
3:09:28This is going to change a lot.
3:09:29It's not about it.
3:09:30This is going to make that much difference.
3:09:31Listen, those foreign countries will find ways to live in the middle of it.
3:09:51So he went on about the period.
3:09:52He said, what do you think that other countries will feel?
3:09:53He said, there's no question about the fact that the Russian part of the world understands totally the role of this country in the world.
3:09:58It's a military shield.
3:09:58It provides a nuclear shield.
3:09:59He said, this tells them exactly where this country stands.
3:10:00It provides leadership as to where we're going.
3:10:01It tells us how we're going to deal with the world in a competitive way.
3:10:03So you have a reference to that.
3:10:04It's headlines you read in the London paper.
3:10:05Yeah.
3:10:05It's from the United States, for some reason.
3:10:28And he isn't there.
3:10:28He's down somewhere.
3:10:28What the headlines is, the U.S. gets tough.
3:10:54I'm just curious.
3:10:55See, he says, here, President, the Secretary of Treasury said today he does not consider President Nixon's assumption of the dollar convertibility a devaluation of the dollar.
3:11:00In my judgment, the dollar is going to rise in decent, decent currencies in the world and will climb decent in the other currencies in the world.
3:11:24It's 33.
3:11:24It's 33 at all times.
3:11:2532 is the last out of four.
3:11:27That's not close.
3:11:27We've still got two.
3:11:28We've got 28.
3:11:28Get in the back.
3:11:28It's 33.
3:11:46What are you doing?
3:11:47Oh, there they come.
3:12:01Good.
3:12:01Do you get any of them talking about the evaluation as a problem?
3:12:22No.
3:12:22Everybody's just happy.
3:12:23Everybody's just happy.
3:12:23See, that's what they look at.
3:12:24You're not analyzing the content so much.
3:12:24It's just the overall thing.
3:12:25You know, that means that you have a new content.
3:12:26You get through that.
3:12:26Find out really who you get through that old brick and wood thing and the new international monetary thing.
3:12:47Well, you know, every wire report, for example, I can be conservative and waste your time, but for example, in the AP league, it says, it says, I'm predicting today that Chris Pritchard is going to play for the blockbuster pack of other economic people.
3:12:57Well, that's just in the league.
3:12:58You know, the guys see that, right?
3:12:58They all say it.

Nixon, Haldeman & Connally on New Economic Policy and Congressional relations

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Nixon Library Finding Aid

Also recorded on August 16, 1971

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