619–12

Conversation No. 619-12

Date: November 16, 1971
Time: 11:13 am - 11:38 am
Location: Oval Office

The President met with Paul W. McCracken and George P. Shultz.

Shultz’s schedule

Seating arrangements

McCracken's previous trip to Japan
-Report
-Economic figures
-John B. Connally

National economy
-Gross National Product [GNP]
-Estimates
-Rate of change
-Price Index
-Inflation
-Arthur F. Burns
-GNP
-Real output
-Estimates
-Error
-Department of Commerce
-Housing starts
-GNP
 14

NIXON PRESIDENTIAL MATERIALS STAFF

Tape Subject Log
(rev. 10/06)
Conv. No. 619-12 (cont.)


-Public concern
-Growth
-Unemployment
-Auto sales
-Deadline
-Ford Motor Company

International monetary system
-Memorandum
-Business reaction
-New York
-Prospects for negotiation
-Exchange rates
-Compared to pre-October 15, 1971 period
-US negotiating position
-Other nations' domestic concerns
-Japan
-Recession
-Italy
-Recession
-Great Britain
-McCracken’s schedule
-Paris
-Organization for Economic Cooperation and Development [OECD]
meeting
-McCracken’s possible statement
-Europeans' position
-Surcharge
-Gold prices
-Great Britain
-France
-Italy
-Deutschemark
-Dollar
-Japanese concerns
-Okinawa
-Connally's visit
-Diet
-McCracken's conversation with Minister for Economic Planning
-Consultations
-Press coverage
 15

NIXON PRESIDENTIAL MATERIALS STAFF

Tape Subject Log
(rev. 10/06)
Conv. No. 619-12 (cont.)



US business community
-Auto sales
-Maurice H. Stans
-James M. Roche
-General Motor [GM]
-Reaction to the President's economic program
-Profits
-Labor
-Responsibility
-Business schools
-Business Council
-Donald McI. Kendall
-Coca-Cola
-Activities
-Foreign policy
-Labor
-1960's conditions
-1968
-Prosperity
-War
-Inflation
-Compared to 1971
-Congress
-Germans and Japanese
-Union of Soviet Socialist Republics [USSR] and People’s Republic of China [PRC]
-Education
-Labor leaders
-Frank E. Fitzsimmons
-George Meany
-Government assistance
-McCracken
-Dissertation advisory
-[Forename unknown] Schoepinger [sp?]
-Shultz, the President and Connally
-Views regarding labor unions
-Chambers of Commerce

Education
-Wealth
-Decline of nations
 16

NIXON PRESIDENTIAL MATERIALS STAFF

Tape Subject Log
(rev. 10/06)
Conv. No. 619-12 (cont.)



Businessmen
-Charles G. Mortimer
-Harold L. (“Red”) Curtis
-[Forename unknown] Barrows [sp?]

Stephen B. Bull entered at an unknown time after 11:13 am.

The President’s schedule

Bull left at an unknown time before 11:38 am.

National economy
-Sales
-Tax Bill
-Possible effect of passage
-Inventories
-Plant equipment spending
-Retail
-Automobiles
-[Forename unknown] O'Reilly's [sp?] story in Wall Street Journal, November
15, 1971
-Inventories

McCracken
-Conversation with H. R. (“Bob”) Haldeman, November 15, 1971
-Tenure in office
-Phase II
-Successor
-Herbert G. Stein

Stein
-Health
-Possible role with administration
-Federal Reserve Board [FRB]
-Memorandum regarding money supply
-Burns
-Council of Economic Advisors [CEA]

National economy
-Money supply
 17

NIXON PRESIDENTIAL MATERIALS STAFF

Tape Subject Log
(rev. 10/06)
Conv. No. 619-12 (cont.)


-Burns
-Connally
-The President's conversation with George E. Allen
-Short-term rates
-Stein's views
-Monetarism
-Burns

Clifford M. Hardin
-Farm bill
-Departure
-Conversation with the President
-Successor

McCracken
-Successor
-Shultz and Connally
-The President's schedule
-Stein
-Ezra Solomon

FRB
-Vacancies

McCracken
-Successor
-Departure
-Press

Economic figures

McCracken and Shultz left at 11:38 am.