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Conversation 747-004

TapeTape 747StartWednesday, July 19, 1972 at 11:33 AMEndWednesday, July 19, 1972 at 11:40 AMParticipantsNixon, Richard M. (President);  Mills, Branford;  Sedlar, Thomas S.;  Flanigan, Peter M.;  White House photographerRecording deviceOval Office
AudioNARA Description

On July 19, 1972, President Richard M. Nixon, Branford Mills, Thomas S. Sedlar, Peter M. Flanigan, and White House photographer met in the Oval Office of the White House from 11:33 am to 11:40 am. The Oval Office taping system captured this recording, which is known as Conversation 747-004 of the White House Tapes.

Nixon Library Finding Aid
Conversation No. 747-4

Date: July 19, 1972
Time: 11:33 am - 11:40 am
Location: Oval Office

The President met with Bradford Mills, Thomas S. Sedlar, and Peter M. Flanigan. The White
House photographer was present at the beginning of the meeting.

     Introductions
          -Mills
                -Soviet Union support of US private investments
                     -Vietnam
                     -Israel
          -Sedlar

     US trade policy
          -Overseas Private Investment Corporation [OPIC]
                -Report
                     -Photograph and letter
                -Informing the public
          -[Photograph session]
          -Assistance to US businesses overseas
                -Degree of competition
                -US governmental support
                -Soviet Union
                     -Armand Hammer
                -Peter G. Peterson

                                         (rev. Mar-02)

                  -Japan
                  -France
                  -Soviet Union
                  -US policy in overseas investment
                       -Eastern Bloc countries
                           -Yugoslavia and Romania
                                  -Foreign Assistance Act
                                  -Josip Broz Tito
                           -Balance of trade problems
                           -Poland
                           -Hungary
                           -Soviet Union
                           -Peterson
                           -Possible talk with Alexander M. Haig, Jr.
                           -Consultation with Henry A. Kissinger
                           -Yugoslavia
                                  -Jacob K. Javits
                           -Public relations
                           -Insurance
                           -Kissinger to prepare paper on OPIC trade issues
                           -Hammer

      White House gifts
          -Cufflinks, paperweights

      Mills’s previous meeting with the President
           -Bohemian Grove
                 -Hillbillies Camp
                 -Lowell Thomas

      Thomas

      US trade policy
           -OPIC
           -Kissinger's understanding of issues
                 -Soviet Union, Poland, Hungary

Mills et al. left at 11:40 am.

                                        (rev. Mar-02)
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.

Yes, sir.
You got the report there.
Well, this is the last year's report, so why don't you hold that?
You don't have this one?
No, we are hoping to have a picture and a letter on it.
This is one of those organizations that you would ask your parents if you want to reach out to them.
No.
They don't know.
But it's an enormous amount.
Thank you.
But it doesn't happen.
It doesn't happen.
It doesn't happen.
But we're hoping that we can present to you a new plan of what we are, can do, what we're up to on the program, on the board, and so, you know.
Yeah, let's put them on straight on.
All right.
All right.
Now we have some plans, which I'm talking a little bit bigger, about how we can assist U.S. business companies with all the competition, which is increasing very, very much with the U.S. into governmental support.
One thing that's occurred to me in a speech in my issue that I'm going to get to, we were discussing recently the problem with law speakers.
So as we move into this business of possible trade, so they're going to really kind of break the boss leaders.
They were right in our heart.
And now we're going to play a very tough game.
I told you before we left, we had to have some other standings on that part.
They've come into our country, but they're going to control it.
We think the Japanese are going to sell the French and the Russians.
So I don't know what all the people are going to do.
All your deals in the entire year of the Congress should be made with a debt constituent.
understandings that we're not going to go with them.
We have no authority right now to operate in other than Yugoslavia.
That's a project.
That's a project.
Oh, absolutely.
We don't do that today.
Why do you say you're going to do this project?
Because we don't have authority under the Foreign Assistance Act, and it was a special amendment.
President Tito came here last year, and she was kind of authorizing us to operate in Romania.
Why aren't they with the others?
Because they don't... Because they are, under the Foreign Assistance Act, they are excluded from the non-Soviet nations.
Oh.
How did Romania got in?
Romania got in under a special amendment.
which we had to .
.
.
.
.
.
.
.
.
. .
I want to be sure that's not, and also we've got to, so if you do, should we wait?
Well, I would put it this way.
Is Peterson aware of this game?
No.
Now, isn't that something that's important?
I think you ought to talk to him.
I think you better get a wire on Peterson so that they can sort of hold that out as one of the carrots.
Because I have that very much in mind.
And I agree that it has to, with the Soviet, it has to wait for them.
It has to be part of the whole package.
Part of the whole package.
But Henry will have a strong idea.
It's all about the Poles and the Poles and what he's
I don't think, I'm not sure we want to do the polls before we do the Russians.
Maybe, maybe not.
But maybe this is something that we have to give them something now.
So I don't want to, and you can give it this now,
authority, you have congressional authority, and then you get away with it.
Yeah, at least we'll keep this law here, Senator Javits.
All right, this is a good little problem that I don't think they're probably aware of over there, but you can get back.
In other words, we'll work it out, but I think this is one that we can throw into that pot, which doesn't cost us a lot in terms of our political and other relations and people understanding.
Great.
And to our private, no private person is going to go and invest in some of our insurance.
And you can't do that in Russia.
You can't.
I want this discussed.
Wait until Henry gets back.
I want to discuss it with him.
And then tell him to get a paper on it and so forth.
And we'll start, we'll start, we'll start.
For example, Hammer is not investigating his documents.
to make sure that he's well in his technology.
He's going to be paid off in profit when he's not making money.
Thank you, Mr. .
There you are.
A new person wants to come.
I'm going to .
I'm always following you around.
The first time we met was I was lost in the Bohemian Grove.
I was trying to find your account.
I was trying to find your account.
Thank you for your support of our program.
We really would have raised some money to make us some money.
I think it's very important that Henry and Floyd understand
how this group organization plays a role in our order of all the economic things with the Russians and the Poles.
Because the Hungarians have been really reaching out.
We want to do something for them, too.
But understand that's a political decision on both, all three cases, I understand.
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