Nixon White House Tapes › Tape 741 › Conversation 741-003
Nixon, Shultz & Weinberger on Food prices and Beef quotas
Friday, June 23, 1972 · 10:39 AM–12:41 PM ET · Oval Office
AI Summary
President Nixon met with his economic advisors, including George Shultz, Caspar Weinberger, and Herbert Stein, to address public and political concerns regarding rising food and beef prices. The group analyzed potential government interventions, such as suspending import quotas, utilizing government food stockpiles, and the political implications of implementing price controls. Following this, the President consulted with Kermit Gordon regarding the administration's economic policies and engaged in a broader discussion concerning the political orientation of intellectuals and the Brookings Institution.
- Food prices
- Beef quotas
- Price controls
- Economic policy
- Brookings Institution
- Inflation
Audio
Audio for this conversation has not been released by the National Archives.
Transcript (AI-generated)
No transcript is available because the audio has not been released.
NARA Description
On June 23, 1972, President Richard M. Nixon, George P. Shultz, Caspar W. ("Cap") Weinberger, Herbert Stein, Ezra Solomon, Marina von Neumann Whitman, John D. Ehrlichman, Ronald L. Ziegler, White House photographer, Stephen B. Bull, Charles W. Colson, Earl L. Butz, Donald H. Rumsfeld, and Kermit Gordon met in the Oval Office of the White House from 10:39 am to 12:41 pm. The Oval Office taping system captured this recording, which is known as Conversation 741-003 of the White House Tapes.
Nixon Library Finding Aid
Conversation No. 741-3
Date: June 23, 1972
Time: 10:39 am-12:41 pm
Location: Oval Office
The President met with George P. Shultz, Caspar W. Weinberger, Herbert Stein, Ezra Solomon,
Marina von N. Whitman, John D. Ehrlichman, and Ronald L. Ziegler; the White House
photographer and members of the press were present at the beginning of the meeting.
Greetings
Higher education message
Seating arrangements
Photographs
The President left at an unknown time after 10:39 am.
Donald H. Rumsfeld
Farm Bureau
The President returned at an unknown time before 10:50 am.
Photographs
Food prices
-Shortages of food
-A paper by unknown person
Timing of meeting
-Other participants
[Photograph session]
Press
-Wire services
-Quality of writing
Stephen B. Bull entered at an unknown time after 10:39 am.
Charles W. Colson
-Attendance at meeting
-Earl L. Butz
-Rumsfeld
-Time
Bull left at an unknown time before 10:50 am.
Food prices
-Government action
-The President’s view
-Public perceptions
-Congress
-Democrats
-The President’s view
-Impact
Beef prices
-John B. Connally
-Experience
-World demand
-Demand
-Effect
-The President's childhood diet
-Cholesterol problems
-Effects of rise
-Need for government action
-Butz
-Clifford M. Hardin
-Appearances
-Importance
Colson entered at 10:50 am.
-Effects on producers and sellers
-Timing of effects
-Election
-Appearances
-Importance
-Other meat products
-Import quota
-Farmers
-Cattlemen
-Middlemen
-Political impact
-Political responsibility
-Political consequences
-Farmers
-Cattlemen
-Middlemen
-Storeowners
-Options
-Deficiencies
-Public reactions
-Impact of election
Economy
-Controls
-The President's decision in August 1971
-The President's policies
-Impact
-State of economy
-The President's analysis
-Changes in diet
-Meat consumption
-Food production
-Middlemen
-Support for the President
-Import quotas
-State Department policies
-Shortcomings
-The President’s view
-Problems
-Increases in world demand
-Butz
-Meet prices in Europe
-Fruits and vegetables
-Shortages
-Controls
-Price controls on food
-Intermediate transactions
-Effect on farmer
-Farmers' concerns
-Perceptions of utility
-Impact
-Stein
-Effects of increased supply
-Beef prices
-Supplies of pork
-Prices
-Predictions of supply
-Cooperation of food chain stores
-Possible price freeze
-Timing
-Effects on economy
Butz and Rumsfeld entered at 11:06 am.
-Statistics
-Problems
-Erhlichman’s previous meeting with storeowners
-Consumer psychology
-Television reporting
-Consumer Price Index [CPI]
-Walter L. Cronkite, Jr.
-Demand
-Effect on consumers
-Administration action
-Support for farmers
-Support for storeowners
-Need for actions
-Consumers
-Quotas
-State Department personnel
-Argentina
-Australia
-New Zealand
-Education background
-The President’s view
-European food prices
-Compared to US
-Quotas on beef
-Possible announcement by the President
-Argentina
-Arthur F. Burns
-Hoof and mouth disease
-Australia
-New Zealand
-Australia
-William McMahon
-Restriction
-Farm Bureau
-Justification for removal
-Price freeze
-Office of Price Administration [OPA]
-Harry S. Truman administration example
-Supplies
-Freezer space
-Solomon’s view
-Quote suspension
-Solomon’s view
-Popular perception
-Quota suspension
-CPI
-Supply and demand
-Cut-backs
-Food stamps
-Quotas
-Announcement of action
-Political problems
-Farmers and cattlemen
-Colson
-Timing
-The President’s view
-Press coverage
-Television
-Timing
-Follow-up
-Secretary of Agriculture
-Whitman
-The President's statement
-Length
-Today Show
-Barbara Walters
-Content
-July 7, 1972 wholesale price announcement
-Time for effects
-Quotas
-Margins of food processors
-Demand
-Effect of government procurement
-Dwight D. Eisenhower administration
-Military menus
-Government demand
-Government installations
-Government storage
-George A. Lincoln
-Reduction
-Follow-up by the Office of Management and Budget [OMB]
-Melvin R. Laird
-Military
-Substitutes
-Orville L. Freeman
-Chicken
-Advantages
-Eggs
-Pork supply
-Lamb
-New Zealand
-Supply
-Prime Minister
-Quotas
-The President’s view
-The President’s statement
-Wording
-Military storage of food
-Release to public
-Weinberger
-Butz
-Lincoln
-Camp David
-Substitutes
-Lamb
-Fish production
-Price controls
-Timing of announcement
-Quotas
-Timing of announcement
-Press conference
-Presidential action
-Revocation
-Timing of announcement
-Rumsfeld
-Today show
-The President’s action
-Effects on chain stores, middlemen
-Effects of the President's decisions
-Quotas on fruits and vegetables
-Florida, California and Arizona
-Barry M. Goldwater
-Quality of tomatoes
-The President’s view
-Agriculture in southwestern US
-Central Valley of California
-Strawberries and tomatoes
-Prices
-Effect on consumers
-Cesar E. Chavez
-Possible talks with retailers
-Future meeting
-Timing of announcements
-Democratic convention
-Price controls
-The President possible meetings in California
-Congress
-Cost of Living Council [COLC]
-Rumsfeld’s view
-July 4 holiday
-Possible meetings
-Price Commission
-COLC
-Retailers
-Cattlemen
-Price Commission
-Price increases
-Effects of a possible meeting with the President
-Price freeze on food
-COLC action
-Meeting of Ziegler, Rumsfeld, Colson, Ehrlichman
-The President’s instructions
-Plan of action
-Wage and price controls
-OPA
-Future recommendations
-Effect
-Food prices
-Proposed action
-Military procurement of meat
-Options
-Government stockpiles
-The President’s view
-The President’s policy
-Reduction
-National Security Council [NSC]
-Bolivia
Weinberger, Butz, Whitman, Stein, Solomon, and Ehrlichman left at 12:08 pm.
The dollar
-Convertability
-Common Market's possible action
-Forthcoming meeting
-Devaluation of dollar
-Canada, Japan
-US currency
-Possible Common Market vote
-Devaluation
-Smithsonian Agreement
-Shultz’s assessment
-Possible acquisition of British pounds
-Common Market actions
-Burns
-Smithsonian Agreement
-Europeans' view
-Currency values
-Exchange rates
-Value of dollar
-Comparison with other nations
Stock market
-Wage earners
-Businessmen and international bankers
-Complaints
-George S. McGovern
Tax reform
Kermit Gordon entered and Ziegler left at 12:15 pm.
The President's previous meeting
-Council of Economic Advisors [CEA]
-Beef prices
Pay Board
-Gordon's role
-Bipartisanship
-Public interest orientation
-Function of board
-Gordon's experience
-OPA
-The President's experience
-OPA
-Regulations
-Work described
Gordon’s efforts
-The President’s view
-Presentation of gifts
Brookings Institution
-Relations with Administration officials
-Staff
-Lyndon B. Johnson's administration officials
-Policymakers
-Previous administration personnel
-Political orientation
-Image
-Shultz, Stein, and Henry A. Kissinger
-Richard P. Nathan
-Department of Health, Education, and Welfare [HEW]
-Charles B. Saunders, Jr.
-Work for Nixon Administration
-Stephen Hess
-Paul W. McCracken
-C. Fred Bergsten
-NSC
-Martin J. Bailey
-Treasury Department
-The President’s view
-Connally
The President's previous meeting with broadcasters
-Media coverage of Administration
-Political orientation of media members
Bull entered at an unknown time after 12:15 pm.
The President's schedule
-Forthcoming meeting
Bull left at an unknown time before 12:41 pm.
Administration staff
-Foundations and media
-Political orientation
-Milton Friedman
-Irving Kristol
Brookings Institution
-Press coverage
-Disarmament
-Defense policies
-Laird
-Kissinger
-Negotiations with People’s Republic of China [PRC]
-Wording of communique
Arms Control Agreement
-Negotiations with the Soviet Union
-Trade
-The President's talks with Leonid I. Brezhnev
-Wording
-The President's talks with Chou En-lai
-Andrei A. Gromyko and Kissinger
-William P. Rogers, Alexei N. Kosygin
-Story about use of words
-Russian tsar
Foundations
-Brookings Institution
-Suspicion of intellectuals
-Brookings Institution
-Relations with politicians on White House staff
Presentation of gifts by the President
Gordon, Rumsfeld, and Shultz left at 12:41 pm.Also recorded on June 23, 1972
- 025-130 9:41 AM · 10 sec — President Richard M. Nixon and the White House operator talked on the telephone at an unknown time between 9:41 am and 10:04 am.
- 741-001 9:41 AM — President Richard M. Nixon and the White House operator met in the Oval Office of the White House at an unknown time between 9:41 am and 10:04 am.
- 741-002 9:41 AM — President Richard M. Nixon, Alexander P. Butterfield, H. R. ("Bob") Haldeman, and Ronald L. Ziegler met in the Oval Office of the White House at an unknown time between 9:41 am and 10:39 am.
- 741-004 12:41 PM — President Richard M. Nixon and Stephen B. Bull met in the Oval Office of the White House at an unknown time between 12:41 pm and 12:44 pm.
- 741-005 12:44 PM — President Richard M. Nixon, Carlos D. Dixon, Mrs. Carlos D. Dixon, Stephen C. Dixon, Kimberley R. Dixon, Earl L. Butz, James V. Smith, John C. Whitaker, White House photographer, and Anita J. Dixon met in the Oval Office of the White House from 12:44 pm to 12:50 pm.
- 741-006 12:51 PM — President Richard M. Nixon and Stephen B. Bull met in the Oval Office of the White House at 12:51 pm.
- 741-007 12:51 PM — President Richard M. Nixon, Frederic V. Malek, Daniel T. Kinsley, E. Pendleton James, Stanton D. Anderson, John E. Clarke, Robert V. Davison, Michael T. Harrigan, Frank C. Herringer, William H. Marumoto, John Grinalds, and White House photographer met in the Oval Office of the White House from 12:51 pm to 1:00 pm.
- 741-008 1:01 PM — President Richard M. Nixon and Stephen B. Bull met in the Oval Office of the White House at 1:01 pm.
Cite this conversation
Conversation 741-003, June 23, 1972. White House Tapes, Richard Nixon Presidential Library and Museum, National Archives. Audio and AI transcript via Easy Nixon, https://www.easynixon.org/tapes/741-003 (accessed September 30, 2026).