Conversation 007-157

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 Do not cite this transcript as authoritative.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.

Mr. President?

Yeah.

Thank you, sir.

Hello.

Mr. President.

Hi, how are you?

Well, I feel so much better today than I have in years.

How good to hear.

Listen, before we get that, let me say Bob Haldeman just sent a note in to me.

Yeah.

And I wondered, I am going to speak to the Knights of Columbus Tuesday night.

Would you be free for breakfast the next morning?

I will, anytime, anywhere.

Well, it's 8.30, and would you mind coming to the Waldorf?

Of course, sir.

And I might have John Mitchell probably with me and Erlichman.

And we'll have a good hour.

And if you don't mind, I think we'll put it on our schedule.

Oh, I appreciate it.

Now, there's a good reason for this, too.

I want to be sure that...

everybody knows i'm still you know that we're still working on revenue sharing addresses the only as john ehrlichman told you all we were doing there was simply simply admitting the reality that with the month of august coming along and this congress not back to september that the date might be slipped but if uh if they believe me if they want to make it to oct september they can that's for your information anyway well listen but how do you feel about it ever thought this was the most exciting thing that's happened in 30 years not only in most

important, not only for our own country, but for the world.

I think you've just absolutely, well, I can't tell you, you've just assumed the kind of leadership which not only this country, but the world needs and must have, and you're going to get it.

I just think it's fantastic.

Tell me, Nelson, how do you feel that the wage price thing, you think that we'll probably get cooperation for a while, and then you think the people are ready for it?

Oh, I do.

Incidentally, your labor leader, Van Arsdale, made a very good statement.

Well, I think this hit it right on the head.

This is what they wanted.

But the exciting thing about what you did was you didn't do just one thing.

You put a combination package together, which instead of sort of siding with one group or another group, you took the key issues, you put them all together in a package.

And I really think it's, well, I would use the word with you, but I won't publicly.

I'm putting out a statement.

It's revolutionary, and this is what we needed.

I don't mind revolutionary.

So it's peaceful.

Right.

It is.

And I really think, Mr. President, you have done it.

Well, you know, one thing, too, as you well realize, only the sophisticates understand the international monetary thing.

But, Nelson, we had to do that.

We had to get our friends abroad, particularly the Japanese, to revalue their currency so that our goods could be competitive.

Don't you agree?

Oh, I do.

But, of course, I thought the Daily News was so marvelous that you were stabilizing the dollar.

Well, you stabilized it.

about 10 points down below.

And I was looking last night after your speech with the ad came on of the Volkswagen, and I thought to myself, well, boys, that's going to cost 30% more in comparison to New York's cars than it did yesterday.

Because when the devaluation plus the 10% tax plus the removal of the domestic tax, well, it's so exciting.

I don't know how you ever dreamed all this stuff up together.

Well, we all did.

Everybody played a part.

John Connolly, of course, was the quarterback.

And then, of course, we had George Schultz, and Arthur Burns was great, and McCracken, and Pete Peterson.

That was the team.

Well, I really think, Mr. President, that you have...

But I think I really say, Mr. President, with your China statement before, you know, and that

feet out from under the Democrats politically on the international front.

And now with this, they'll be sorting this thing out for the next two years.

They're going to have some troubles.

There's nothing they can think of that you haven't done.

Yeah, of course.

Now we've got to make it work.

Well, that's right.

That's right.

But those are all things.

It gives a new hope.

You broke through all the traditions the way you did in China.

You're breaking through all of these encrusted traditions.

which gives you a freedom of action that is essential at the time we're in.

And I think this ought to hit the young people in an exciting way.

This is the kind of bold, and I have to say it, revolutionary, because in the foreign field, this combination of letting the dollar flow, putting the 10% import charge, is really revolutionary.

And it gives you the time, the way you've done it, the time to turn around, study these things.

Negotiate.

Refine them.

Negotiate.

Yeah.

And we can, of course, let the, with the less developed countries, of course, we can exempt them, which we'll do.

But this really, as you know, very well know, is really the common market plus Japan.

That's all the game's about.

That's what I said.

Nothing else.

I said, who does this affect?

I said the common market is Japan.

Right.

And, of course, England gets in there just in time.

Well, it's so good of you to call.

Well, I'm just excited.

Incidentally, how about, I haven't had a chance, what was David's reaction?

Well, David's up in Maine.

Oh, oh.

He talked to Lawrence.

Yeah.

And Lawrence is thrilled.

Yeah, good.

And Dave's up in Maine.

I only asked because he's in the banking community.

I would think he'd be for it, though, because he knows that floating is necessary.

That's right.

I'll talk to him, and by the time we get together Wednesday, I'll have a report for you.

Well, I am thrilled, Mr. President, and on our breakfast, as maybe John Ehrlichman told you, I'm very anxious to talk about this problem of getting the...

permission from HEW to, instead of going solely the route of public service jobs financed by the federal government, which the more you do, the more John Lindsay demands, that we want the right to take our welfare recipients who are able-bodied and have them do state public service jobs

from the money which they receive in their check.

That sounds good to me.

Did John say that it was possible?

Well, we've been negotiating for two months on this with HEW, and HEW... Of course, they don't want to do anything about welfare.

You know, this is the last thing.

And therefore, we're coming down to the down with a major policy decision.

But I think your speech yesterday night is going to force this because there isn't going to be the money.

Let me get up.

Let me have that John on it.

And I'll have him at breakfast, too.

Well, that would be wonderful.

And Erlichman and Mitchell and myself.

And would you like to bring anybody, or if you like?

I might bring Bobby Douglas.

Fine, fine.

That's fine.

Anybody you like.

Well, you're great.

Fine, and just good to talk to you, and I appreciate your making a statement.

You've put new hope, new faith into all of us.

Thanks, thanks.

You cheer me up.

You know what I did?

I wrote this.

Of course, we've been planning for some time, but I went up to Camp David, and I had the meeting and gave the signals to everybody and told them to come back with the programs.

Okay, well, I thought it was beautifully presented, and I thought you were in top form.

Andy and I both commented on that.

You never look better.

I was dead, I must say, and I'm tired.

You read it beautifully, and you looked up, so you were looking right into the eyes of the audience.

And I just thought the whole thing.

Well, I can't tell you.

Well, many thanks, and we'll get happy, my best.

Okay.

Bye.