About this recording
469–9
- President Richard M. Nixon
- John B. Connally
- Rose Mary Woods
March 18, 1971
Conversation No. 469-9
Date: March 18, 1971
Time: 5:25 pm - 6:22 pm
Location: Oval Office
The President met with John B. Connally
Greetings
Connally’s schedule
9
NIXON PRESIDENTIAL MATERIALS STAFF
Tape Subject Log
(rev. 9/08)
-Connally’s health
Rose Mary Woods entered at 5:25 pm
Editing changes
Refreshments
Editing changes
Woods left at 5:26 pm
Connally’s meeting with Arthur F. Burns
-Balance of payments
-Federal Reserve staff in Washington, DC or New York
-Possible statement concerning interest rates
-Paul A. Volcker’s previous conversation with Burns
-Board of Governors
-Alfred Hayes
-Connally and Burns
-Statement
-Relations between Burns and Connally
-Burns
-Relations between Burns and President
-Connally’s image
-Burns’ statements to Congress
-Investment tax credits
-Social Security changes
-Wage and income policy
-Burns’ career
-Chairman of Council of Economic Advisors [CEA]
-Chairman of Federal Reserve
-Counselor to the President
-Connally’s public statements concerning Burns
-Federal Reserve
-Burns’ public statements
-Chairman of CEA
-White House staff
-Secretary of Treasury
-Tax policy
-Jurisdiction
-Burns’ statements
10
NIXON PRESIDENTIAL MATERIALS STAFF
Tape Subject Log
(rev. 9/08)
-Social Security
-Response of others
-Possible outcome
-Effect
-Federal Reserve System
-Monetary policy
-Congressional testimony
-Reasons Conv. No. 469-9 (cont.)
-Possible outcome
-Social Security
-Investment tax credit bill
-Previous Quadriad meeting
-President’s behavior
-Reason
-Paul W. McCracken and George P. Shultz
-Burns’ statements
-Reason
-Connally’s response
-Forthcoming meeting of Burns and President
-Burns’ support for President
-Burns’ statements
-Possible outcome
-President’s decisions
-Connally, Burns
-Advice
-Burns’ staff
-Economy by 1972
-Forthcoming meeting between Burns and President
-Connally’s view
-Economic policy
-Relations
-Burns’ career
-Forthcoming meeting between Burns and President
-Burns’ actions
-Influence with President
-Cabinet
-Burns
-Forthcoming meeting between Burns and President
-Burns
-Possible outcome of actions
-Influence on economic policy
-Contribution to administration
11
NIXON PRESIDENTIAL MATERIALS STAFF
Tape Subject Log
(rev. 9/08)
-Forthcoming meeting between Burns and President
-Burns
-Shultz, McCracken
-White House staff
-Monetary policy
-Burns’ relations with President
-Burns’ actions
-Outcome Conv. No. 469-9 (cont.)
-Treasury and Federal Reserve
-Burns as CEA chairman
-George T. Humphrey
-Gabriel Hauge
-Vice President Spiro T. Agnew
-Oveta Culp Hobby
-Jim [James P.?] Mitchell
-A Cabinet meeting
-President’s statement
-Mitchell
-Humphrey
-Dwight D. Eisenhower
-Relations with President
-Connally’s relations with Lyndon B. Johnson
-Changes
-John F. Kennedy advisors
-Compared with Burns’ relations with President
Burns
-Forthcoming meeting with President
-Topics of conversation
-Connally’s view
-CEA
-Office of Management and Budget [OMB]
-Burns’ public statements
-Monetary policy
-Tax policy
-Wage and price controls
-Burns’ jurisdiction
-Effect on President
-Forthcoming Quadriad meeting
Consumer Price Index
-President’s previous talk with Shultz
12
NIXON PRESIDENTIAL MATERIALS STAFF
Tape Subject Log
(rev. 9/08)
-New figures compared with previous month
-Food prices
-Effect
-Inflation rate
Personal income and industrial output
-March figures
-Car sales Conv. No. 469-9 (cont.)
-March figures, April 15, 1971
-First quarter figures
Economy
-Administration policy
-Burns, Quadriad
-Prices
-Burns
-Milton Friedman
-Market response
-Unemployment and inflation
-President’s view
-Forecast
-March figures
-Shultz
-Economists
-Growth
-Possible changes
-President’s policy
-President’s view
-Consumers
-President’s talk with a friend in New York City
-Observations on a boxing match
-New York City restaurants
-Response
-Rose, Sugar, and Super Bowls
-General Charles A. J. M. de Gaulle’s remarks on France
-Public opinion
-Effect of Vietnam War
Vietnam
-President’s November 3, 1969 speech
-Effect
-Johnson
13
NIXON PRESIDENTIAL MATERIALS STAFF
Tape Subject Log
(rev. 9/08)
-Public opinion
-Effect of past actions
-President’s view
-Military action
-Laos
-Effect
-Casualties
-Effect Conv. No. 469-9 (cont.)
-Troop withdrawals
-President’s forthcoming speech
-Draft
-General Nguyen Van Thieu
-President’s goals for South Vietnam
-Communism
-President’s view
-Effect on public opinion
Soviet Union
-William P. Rogers and Henry A. Kissinger
-Strategic Arms Limitation Talks [SALT]
-Effect on public
Vietnam
-Public opinion
-Johnson’s actions
-Democrats and the “Establishment”
-Eugene J. McCarthy
-Effect on public opinion
US in 1969
-Compared with 1967 and 1968
-Urban and campus unrest, economy
-Justice Department under John N. Mitchell
-Compared with W. Ramsey Clark
Economy
-Current situation
-Youth wages
-Review
-Connally and staff, Shultz, McCracken
-Possible changes in policy
-Taxes
14
NIXON PRESIDENTIAL MATERIALS STAFF
Tape Subject Log
(rev. 9/08)
-Administration policy
-President’s view
-President’s meeting with Heads of State
-Balance of payments
-Other countries’ economies
-Burns’ comments
-Effect
-Public opinion Conv. No. 469-9 (cont.)
-Connally, President, and Burns’ roles
-Review
-Taxes
-Budget
-Connally’s view
-1065
-Deficits and revenues
-President’s policy
-Spending
-Taxes
-An unknown man
-Banks
-Savings and loans
-Need to increase spending
-Public opinion
-Burns
-Monetary policy
-Burns
-Interest rates
-Connally’s statements
-Timing
-Fluctuation
-Benefits to Administration
-November 1972
-1971, 1972
-Unemployment
-Fluctuations
-1971, 1972
-Inflation
-1971, 1972
-1065 in budget
-Unemployment in 1971
-Inflation by November 1972
-Lending institutions
15
NIXON PRESIDENTIAL MATERIALS STAFF
Tape Subject Log
(rev. 9/08)
-Businesses
-Business and labor
-Housing
-Interest rates
-Connally’s view
-1971, 1972
-Columnists
-International banking Conv. No. 469-9 (cont.)
-Columnists
-Balance of payments
-European banks
******************************************************************************
BEGIN WITHDRAWN ITEM NO. 4
[National Security]
[Duration: 16s ]
NETHERLANDS
END WITHDRAWN ITEM NO. 4
******************************************************************************
-Adolf Hitler
-US troops in Europe
-1969 compared with 1971 interest rates
-Gold
-Netherlands, Switzerland
-European bankers’ meeting
-David Rockefeller
-Herbert P. Patterson
-Vice President of First City National Bank
-Balance of payments
-Possible statement by President or Rogers
-Secretary of Defense
-US troops in Europe
-Effect
16
NIXON PRESIDENTIAL MATERIALS STAFF
Tape Subject Log
(rev. 9/08)
-Soviet Union
-Middle East, SALT
-Effect
-Dutch ambassador
-State Department luncheon
-[Forename unknown] Tezarny [sp?] comments
-US economic policy
Conv. No. 469-9 (cont.)
Economy
-Taxes
-Burns, President
-President’s forthcoming meeting with Burns
-Monetary policy
-Wages and prices
-A previous meeting
-Romney, John A. Volpe, Winton M. (“Red”) Blount, Maurice H. Stans
-Possible freeze
-President’s concern
-Effects
-Connally’s view
-Wage and price bureaucracy
-President’s role
-James D. Hodgson
-Possible agreement with labor
-Labor
-Blount
-Congress
-President’s legislative proposals
-Transportation
-Blount
-Unions
-Possible legislation
-Timing
-Connally’s view
-Effect
-Timing
-President’s forthcoming meeting with Burns
-Quadriad meeting
-Forecast
-Review
-Stans, Hodgson, Blount, Volpe, Romney, Clifford M. Hardin
-Possible meeting with President
17
NIXON PRESIDENTIAL MATERIALS STAFF
Tape Subject Log
(rev. 9/08)
-Forthcoming Cabinet meeting
-Effect
Lockheed
-Forthcoming week’s developments
-Supersonic Transport [SST] vote
-Environmentalists
-Liberals Conv. No. 469-9 (cont.)
-Future in Senate
-Warren G. (“Maggie”) Magnuson
-Henry M. (“Scoop”) Jackson
-Connally’s forthcoming meetings
-Lloyd M. Bentsen, Jr.
-John Sherman Cooper
-J. N. Mitchell
-President’s position
-Future
-Liberals and environmentalists
-Forthcoming developments
Connally left at 6:22 pm
Date: March 18, 1971
Time: 5:25 pm - 6:22 pm
Location: Oval Office
The President met with John B. Connally
Greetings
Connally’s schedule
9
NIXON PRESIDENTIAL MATERIALS STAFF
Tape Subject Log
(rev. 9/08)
-Connally’s health
Rose Mary Woods entered at 5:25 pm
Editing changes
Refreshments
Editing changes
Woods left at 5:26 pm
Connally’s meeting with Arthur F. Burns
-Balance of payments
-Federal Reserve staff in Washington, DC or New York
-Possible statement concerning interest rates
-Paul A. Volcker’s previous conversation with Burns
-Board of Governors
-Alfred Hayes
-Connally and Burns
-Statement
-Relations between Burns and Connally
-Burns
-Relations between Burns and President
-Connally’s image
-Burns’ statements to Congress
-Investment tax credits
-Social Security changes
-Wage and income policy
-Burns’ career
-Chairman of Council of Economic Advisors [CEA]
-Chairman of Federal Reserve
-Counselor to the President
-Connally’s public statements concerning Burns
-Federal Reserve
-Burns’ public statements
-Chairman of CEA
-White House staff
-Secretary of Treasury
-Tax policy
-Jurisdiction
-Burns’ statements
10
NIXON PRESIDENTIAL MATERIALS STAFF
Tape Subject Log
(rev. 9/08)
-Social Security
-Response of others
-Possible outcome
-Effect
-Federal Reserve System
-Monetary policy
-Congressional testimony
-Reasons Conv. No. 469-9 (cont.)
-Possible outcome
-Social Security
-Investment tax credit bill
-Previous Quadriad meeting
-President’s behavior
-Reason
-Paul W. McCracken and George P. Shultz
-Burns’ statements
-Reason
-Connally’s response
-Forthcoming meeting of Burns and President
-Burns’ support for President
-Burns’ statements
-Possible outcome
-President’s decisions
-Connally, Burns
-Advice
-Burns’ staff
-Economy by 1972
-Forthcoming meeting between Burns and President
-Connally’s view
-Economic policy
-Relations
-Burns’ career
-Forthcoming meeting between Burns and President
-Burns’ actions
-Influence with President
-Cabinet
-Burns
-Forthcoming meeting between Burns and President
-Burns
-Possible outcome of actions
-Influence on economic policy
-Contribution to administration
11
NIXON PRESIDENTIAL MATERIALS STAFF
Tape Subject Log
(rev. 9/08)
-Forthcoming meeting between Burns and President
-Burns
-Shultz, McCracken
-White House staff
-Monetary policy
-Burns’ relations with President
-Burns’ actions
-Outcome Conv. No. 469-9 (cont.)
-Treasury and Federal Reserve
-Burns as CEA chairman
-George T. Humphrey
-Gabriel Hauge
-Vice President Spiro T. Agnew
-Oveta Culp Hobby
-Jim [James P.?] Mitchell
-A Cabinet meeting
-President’s statement
-Mitchell
-Humphrey
-Dwight D. Eisenhower
-Relations with President
-Connally’s relations with Lyndon B. Johnson
-Changes
-John F. Kennedy advisors
-Compared with Burns’ relations with President
Burns
-Forthcoming meeting with President
-Topics of conversation
-Connally’s view
-CEA
-Office of Management and Budget [OMB]
-Burns’ public statements
-Monetary policy
-Tax policy
-Wage and price controls
-Burns’ jurisdiction
-Effect on President
-Forthcoming Quadriad meeting
Consumer Price Index
-President’s previous talk with Shultz
12
NIXON PRESIDENTIAL MATERIALS STAFF
Tape Subject Log
(rev. 9/08)
-New figures compared with previous month
-Food prices
-Effect
-Inflation rate
Personal income and industrial output
-March figures
-Car sales Conv. No. 469-9 (cont.)
-March figures, April 15, 1971
-First quarter figures
Economy
-Administration policy
-Burns, Quadriad
-Prices
-Burns
-Milton Friedman
-Market response
-Unemployment and inflation
-President’s view
-Forecast
-March figures
-Shultz
-Economists
-Growth
-Possible changes
-President’s policy
-President’s view
-Consumers
-President’s talk with a friend in New York City
-Observations on a boxing match
-New York City restaurants
-Response
-Rose, Sugar, and Super Bowls
-General Charles A. J. M. de Gaulle’s remarks on France
-Public opinion
-Effect of Vietnam War
Vietnam
-President’s November 3, 1969 speech
-Effect
-Johnson
13
NIXON PRESIDENTIAL MATERIALS STAFF
Tape Subject Log
(rev. 9/08)
-Public opinion
-Effect of past actions
-President’s view
-Military action
-Laos
-Effect
-Casualties
-Effect Conv. No. 469-9 (cont.)
-Troop withdrawals
-President’s forthcoming speech
-Draft
-General Nguyen Van Thieu
-President’s goals for South Vietnam
-Communism
-President’s view
-Effect on public opinion
Soviet Union
-William P. Rogers and Henry A. Kissinger
-Strategic Arms Limitation Talks [SALT]
-Effect on public
Vietnam
-Public opinion
-Johnson’s actions
-Democrats and the “Establishment”
-Eugene J. McCarthy
-Effect on public opinion
US in 1969
-Compared with 1967 and 1968
-Urban and campus unrest, economy
-Justice Department under John N. Mitchell
-Compared with W. Ramsey Clark
Economy
-Current situation
-Youth wages
-Review
-Connally and staff, Shultz, McCracken
-Possible changes in policy
-Taxes
14
NIXON PRESIDENTIAL MATERIALS STAFF
Tape Subject Log
(rev. 9/08)
-Administration policy
-President’s view
-President’s meeting with Heads of State
-Balance of payments
-Other countries’ economies
-Burns’ comments
-Effect
-Public opinion Conv. No. 469-9 (cont.)
-Connally, President, and Burns’ roles
-Review
-Taxes
-Budget
-Connally’s view
-1065
-Deficits and revenues
-President’s policy
-Spending
-Taxes
-An unknown man
-Banks
-Savings and loans
-Need to increase spending
-Public opinion
-Burns
-Monetary policy
-Burns
-Interest rates
-Connally’s statements
-Timing
-Fluctuation
-Benefits to Administration
-November 1972
-1971, 1972
-Unemployment
-Fluctuations
-1971, 1972
-Inflation
-1971, 1972
-1065 in budget
-Unemployment in 1971
-Inflation by November 1972
-Lending institutions
15
NIXON PRESIDENTIAL MATERIALS STAFF
Tape Subject Log
(rev. 9/08)
-Businesses
-Business and labor
-Housing
-Interest rates
-Connally’s view
-1971, 1972
-Columnists
-International banking Conv. No. 469-9 (cont.)
-Columnists
-Balance of payments
-European banks
******************************************************************************
BEGIN WITHDRAWN ITEM NO. 4
[National Security]
[Duration: 16s ]
NETHERLANDS
END WITHDRAWN ITEM NO. 4
******************************************************************************
-Adolf Hitler
-US troops in Europe
-1969 compared with 1971 interest rates
-Gold
-Netherlands, Switzerland
-European bankers’ meeting
-David Rockefeller
-Herbert P. Patterson
-Vice President of First City National Bank
-Balance of payments
-Possible statement by President or Rogers
-Secretary of Defense
-US troops in Europe
-Effect
16
NIXON PRESIDENTIAL MATERIALS STAFF
Tape Subject Log
(rev. 9/08)
-Soviet Union
-Middle East, SALT
-Effect
-Dutch ambassador
-State Department luncheon
-[Forename unknown] Tezarny [sp?] comments
-US economic policy
Conv. No. 469-9 (cont.)
Economy
-Taxes
-Burns, President
-President’s forthcoming meeting with Burns
-Monetary policy
-Wages and prices
-A previous meeting
-Romney, John A. Volpe, Winton M. (“Red”) Blount, Maurice H. Stans
-Possible freeze
-President’s concern
-Effects
-Connally’s view
-Wage and price bureaucracy
-President’s role
-James D. Hodgson
-Possible agreement with labor
-Labor
-Blount
-Congress
-President’s legislative proposals
-Transportation
-Blount
-Unions
-Possible legislation
-Timing
-Connally’s view
-Effect
-Timing
-President’s forthcoming meeting with Burns
-Quadriad meeting
-Forecast
-Review
-Stans, Hodgson, Blount, Volpe, Romney, Clifford M. Hardin
-Possible meeting with President
17
NIXON PRESIDENTIAL MATERIALS STAFF
Tape Subject Log
(rev. 9/08)
-Forthcoming Cabinet meeting
-Effect
Lockheed
-Forthcoming week’s developments
-Supersonic Transport [SST] vote
-Environmentalists
-Liberals Conv. No. 469-9 (cont.)
-Future in Senate
-Warren G. (“Maggie”) Magnuson
-Henry M. (“Scoop”) Jackson
-Connally’s forthcoming meetings
-Lloyd M. Bentsen, Jr.
-John Sherman Cooper
-J. N. Mitchell
-President’s position
-Future
-Liberals and environmentalists
-Forthcoming developments
Connally left at 6:22 pm