556–4

Conversation No. 556-4

Date: August 6, 1971
Time: 10:34 am - 11:38 am
Location: Oval Office

The President met with H. R. (“Bob”) Haldeman.
[The conversation was in progress when the recording began]

President's appearance before Girls Nation
-Photograph session
-President’s comments
-President’s comments
-Editing
-Role of women
-Thelma C. (“Pat’) Nixon
-Women's liberation

Stephen B. Bull entered at an unknown time after 10:34 am.

Signature

Maurice H. Stans

Bull left at an unknown time before 10:37 am.

President's schedule
-Meetings

John B. Connally entered at 10:37 am.
 7

NIXON PRESIDENTIAL MATERIALS STAFF

Tape Subject Log
(rev. 10/06)
Conv. No. 556-4 (cont.)


Connally’s schedule
-Johnnie M. Walters
-Internal Revenue Service [IRS]
-Forthcoming meeting with Rudolph A. Peterson

President's schedule
-Peterson’s meeting

US economy
-Proposed actions
-Strategy
-Possilbe involvement of Arthur F. Burns, Paul W. McCracken, Peter G.
Peterson
-Secrecy
-President’s recent conversation with Burns
-Burns’ salary
-President’s instructions
-Burns as administration spokesman
-Forthcoming Time magazine story
-Timing
-Congressional recess
-People’s Republic of China [PRC] announcement
-Letter
-Task force
-Timing
-Announcement
-Connally’s recent statement
-Wage and price board
-Polls
-Recommendation
-Timing
-Need to show action
-State Department appointees briefing
-Comments by Connally and George P. Shultz
-Inflation
-Connally’s discussion with Time reporter [Larry Malkin]
-Policy change
-Objectives
-Inflation
-Employment
-Policy change
 8

NIXON PRESIDENTIAL MATERIALS STAFF

Tape Subject Log
(rev. 10/06)
Conv. No. 556-4 (cont.)


-Malkin
-Time story
-Possible problem
-Anticipation of Administration action
-Tax measures
-Budget
-Shultz
-Recommendations
-Connally’s possible comments
-Timing
-San Clemente
-New York Times article
-Compared to PRC announcement
-Pentagon Papers
-Lt. William L. Calley
-Vietnam
-Michael J. Mansfield
-Criticism
-Effect of crisis
-Public concern
-New York Times article
-Quoted
-Timing
-Effect of international monetary situation
-Wage and price freeze
-Wage Price Board
-Name
-Burns
-Forthcoming meeting
-Prices
-Credit
-Timing of action
-Import tax
-Possibility of Congressional approval
-Wilbur D. Mills
-Burns’s conversation with the President
-Burns's conversation with the Japanese ambassador
-Yen
-Flexibility
-Possible removal
-Scope
 9

NIXON PRESIDENTIAL MATERIALS STAFF

Tape Subject Log
(rev. 10/06)
Conv. No. 556-4 (cont.)


-Compared to Payne-Aldrich Tariff
-Psychological impact
-Pierre Rinfret's recommendation
-Speech
-Need for action
-President's position as leader
-Wage and price freeze
-Message to people
-Work and competitiveness
-Responsibility of labor and management
-Studies
-Timing
-Congressional recess
-Public move
-Economic indicators
-Unemployment rate
-Retail sales
-International situation
-Effect on timing
-Connally and Shultz meeting
-Connally's schedule
-Texas
-Contact with the President
-President's schedule
-California
-Shultz
-Risk-taking
-Possible international reaction
-Package
-Import tax
-Jobs
-Investment tax credit
-Budget constraints
-Wage and price freeze
-Effect on US public
-Republican goals
-Fiscal responsibility
-Determination to take action
-Protection of US economy
-Inflation
-Unemployment
 10

NIXON PRESIDENTIAL MATERIALS STAFF

Tape Subject Log
(rev. 10/06)
Conv. No. 556-4 (cont.)


-International economic relations
-President’s recent message to business

State Department
-Possible administrative change
-US embassies
-Economic ministers
-President's conversation with William P. Rogers
-Connally's talk with Rogers
-Peter M. Flanigan
-Peter Peterson
-Economic minister
-Treasury Department
-Commerce Department
-State Department
-Foreign service officials
-Economic views
-Economic minister
-Presidential appointment
-Rank
-Connally’s talk with Rogers
-Foreign service
-Compared to British
-Compared to Japanese
-Training

US economy
-Proposed action
-Automobile tax
-Effect of timing
-Fall new model season
-Television advertisement
-New model season
-Tax credit
-Railroad industry
-Need to help business
-Tax bill
-Veto
-Poor
-Football metaphor
 11

NIXON PRESIDENTIAL MATERIALS STAFF

Tape Subject Log
(rev. 10/06)
Conv. No. 556-4 (cont.)


President’s schedule
-Rudolph Peterson

Haldeman left at 11:06 am.

Rudolph Peterson, Alexander M. Haig, Jr., and George H.W. Bush entered at 11:06 am; the
White House photographer was present at the beginning of the meeting.

Photograph session

United Nations [UN] Development Program
-Peterson's appointment
-Timing
-Paul Hoffman
-Acquaintance with post
-International organizations
-Bush
-Connally
-Discussions with the President
-Multilateral compared to bilateral aid programs
-Political effect of multilateral action
-Congress
-Representation
-Foreign governments
-Hoffman's orientation
-Compared to Peterson
-The President, Connally, Bush
-Congress
-US public's view
-US interests
-President’s forthcoming meeting with Connally
-Views
-The President, Connally, Robert S. McNamara
-US diplomacy
-Compared to Japanese, Western Europe
-Economics
-Coordination in US government
-Department of the Treasury
-Connally
-National Security Council [NSC]
-Multilateral aid programs
 12

NIXON PRESIDENTIAL MATERIALS STAFF

Tape Subject Log
(rev. 10/06)
Conv. No. 556-4 (cont.)


-Treasury Department
-Funding
-World Bank
-Inter-American Development Bank
-Lack of US leverage
-US contribution
-President of Peru
-Position
-Possible change in US policy
-Treasury Department
-Bilateral relationships
-Inter-American Development Bank
-Brazil and unknown country
-Treasury Department
-Export-Import [Ex-IM] Bank
-Peterson
-Hoffman
-Coordination with Connally
-Inter-American Development Bank
-Coordination of international aid efforts
-Informal meetings
-McNamara, development banks
-State Department
-Board of Directors
-Ex-Im Bank
-Burns
-Henry A. Kissinger
-Exchange of views
-Agency for International Development [AID]
-John A. Hannah
-Dinner
-Timing
-State Department
-Kissinger
-McNamara
-Pierre-Paul Schweitzer
-International Monetary Fund [IMF]
-Meeting
-Timing
-IMF meeting
-McNamara
 13

NIXON PRESIDENTIAL MATERIALS STAFF

Tape Subject Log
(rev. 10/06)
Conv. No. 556-4 (cont.)


-Dinner
-US policy
-Representation in international bodies
-Congress
-Possible Congressional action
-Wright Patman's comments
-J. William Fulbright
-UN Development Program
-Hoffman
-Reorganization
-Administration support
-Agencies
-Contracts
-State Department
-Need for coordination
-Country program basis
-Compared to individual projects
-UN
-Public support
-Coordination of US officials
-Meeting

[General conversation]

The President's schedule
-Nashua, New Hampshire

Peterson, et al. left at 11:38 am.
 14

NIXON PRESIDENTIAL MATERIALS STAFF

Tape Subject Log
(rev. 10/06)