567–8

Conversation No. 567-8

Date: September 4, 1971
Time: 8:53 am - 10:09 am
Location: Oval Office

The President met with George P. Shultz.

Greetings
 5

NIXON PRESIDENTIAL MATERIALS STAFF

Tape Subject Log
(rev. 10/06)
Conv. No. 567-8 (cont.)


Shultz’s vacation
-Family
-Milton and Rose Friedman

The economy
-Shultz's conversation with Friedman
-Gold
-President’s previous conversation with H. R. (“Bob”) Haldeman
-Rights of citizens to hold gold
-Legality
-Memorandum for John B. Connally
-Importance
-Political impact
-Friedman's view of international situation
-Taxation and expenditure
-Wage and price policies
-Psychological effects
-Status of free enterprise system
-Managed economy
-Press backgrounder, September 3, 1971
-Chuck [Charles W. Colson]
-Newspapers
-Story on the economy
-Press questions
-The President's role
-Tax changes

Labor issues
-West Coast dock strike
-Alfred R. (“Harry”) Bridges
-Proposal on jurisdictional issue of loading container cargoes
-Divisions between the Teamsters and the Pacific Maritime Association [PMA]
-PMA
-Teamster reaction
-National Labor Relations Board [NLRB]
-Meeting on PMA's decision on Bridges’ proposal
-Timing
-Outcome of strike
-J. Curtis Counts’ information about forthcoming action
-Return to work by strikers
-Negotiations during Phase I freeze period
 6

NIXON PRESIDENTIAL MATERIALS STAFF

Tape Subject Log
(rev. 10/06)
Conv. No. 567-8 (cont.)


-Taft-Hartley injunction
-President’s possible action
-Affidavits
-National emergency
-PMA resistance
-Employee reactions
-Resistance
-James D. Hodgson

Budget
-Cuts
-Amount
-Camp David meeting
-Office of Economic Opportunity [OEO] program and community action grants
-Limits on flow of funds
-Legality
-Timing
-Continuing resolution
-Political problems
-Political effects
-Strategy of spending
-Effects
-Ceiling limits
-Testimony before Congress
-Connally
-Shultz
-1972 budget proposals
-Deficit estimates
-Effect of profits
-Appropriations
-Defense bill
-Outlays, receipts
-Gross National Product [GNP]
-Establishment of new program
-Attitude and action of Congress
-Timing
-Uncertainties
-Focus on changes
-Estimated budget
-Amount of deficit
-Connally
 7

NIXON PRESIDENTIAL MATERIALS STAFF

Tape Subject Log
(rev. 10/06)
Conv. No. 567-8 (cont.)


-Presentation for the President
-Chart
-Camp David
-Shultz's presentation to Congress
-Strategies
-Full employment deficit
-Reductions in budget
-Surcharge
-Budget outlays
-Fiscal Year [FY] 73 and 74 projections
-Presentation on deficits
-Shultz’s forthcoming conversation with Connally
-Phase II operation
-Direction of prices, productivity
-Employment
-Percentages of economy shifts
-[Hugh] Gardner Ackley, Arthur M. Okun
-Guidelines
-Arthur F. Burns

Labor
-West Coast dock strike
-Bridges
-Labor agreement
-Bargaining
-Settlement
-Freeze
-Employer attitudes
-East coast dock workers, coal miners
-Conversation at Camp David meeting
-Strategy
-Labor and management
-Analogy to construction industry
-Status
-Leaders
-George Meany
-Edward M. Kennedy
-Meany’s view
-Public members of the Pay Board
-Brookings Institute
-Okun, Ackley, [Forename unknown] Ellard [?]
 8

NIXON PRESIDENTIAL MATERIALS STAFF

Tape Subject Log
(rev. 10/06)
Conv. No. 567-8 (cont.)


-Bridges
-Thomas W. (\"Teddy\") Gleason
-Labor opposition
-View
-Guideline
-Guideline levels
-Labor support
-Goals
-Productivity
-Wages
-Labor management groups
-Productivity bargaining
-Public opinion
-Meany and other labor leaders
-Voluntary system of cooperation
-Administration policies towards labor leaders
-Concessions
-Free markets
-Free collective bargaining
-Shultz's meeting with Meany
-Haldeman's report to the President
-Possible meeting with labor and management,
-Meany
-Labor and management members of the National Commission on Productivity
-National Association of Manufacturers [NAM]
-Chamber of Commerce
-Frank E. Fitzsimmons
-Public participation
-War Labor Board/Wage Stabilization Board prototype
-Labor reaction to tri-partite format
-Equity
-Labor's insistence
-Impact on wages
-Union attempts at organizing non-union workers
-Federal Government employees
-John Moore [?]
-Proposals
-Industries
-Construction
-Possible administration action
-Cosmetic changes
 9

NIXON PRESIDENTIAL MATERIALS STAFF

Tape Subject Log
(rev. 10/06)
Conv. No. 567-8 (cont.)


-The President’s view

The economy
-Wholesale price index
-Wages and prices
-Intervention
-Connally
-Wholesale price index
-Unemployment figures
-Shultz’s view
-Problems
-Economic problems
-Seasonal adjustments
-Compared to 1961-63
-Statistics on freeze
-Edward Dale
-Impact on wages and prices
-Interpretation
-Consumer Price Index [CPI]
-Food and home prices
-Timing of compilation
-Figures
-Civilian labor force
-1971 changes
-Fluctuations
-Teenage employment
-Breakdown
-Discrepancies
-Retail sales
-Consumer attitudes on purchases
-Expansion
-Inflation
-Future problems
-Public sentiment for freeze
-The President's policies
-International situation
-Cycle of monetary crises
-Psychological impact
-The stock market
-Congressional reaction
-The President's speech to Congress
 10

NIXON PRESIDENTIAL MATERIALS STAFF

Tape Subject Log
(rev. 10/06)
Conv. No. 567-8 (cont.)


-Drafts
-Raymond K. Price, Jr., William L. Safire
-Review
-Labor and industry group
-Cost of Living Council [COLC]
-Phase II discussion
-Clifford M. Hardin
-Dividend issues
-Maurice H. Stans
-Business views
-National Railroad Passenger Corporation/American Track [AMTRAK]'s
practices
-Sale of tickets
-Comparison with airline practices
-Problems
-Arnold R. Weber
-Gen. George A. Lincoln
-The President's meetings with Carlos Sanz de Santamaria, Weber
-Weber
-Background
-Quality of work
-Television appearances
-\"Today\" show
-\"Captain Kangaroo of the COLC\" self-description
-Wage and price freeze
-Public support
-President’s recent rip to Chicago
-Duration
-Self-interest
-Burns
-Media

John N. Mitchell entered at 9:44 am.

Schedule
-Meeting with Weber, Lincoln
-Time
-Paul W. McCracken
-Connally
-Attendance at meeting
 11

NIXON PRESIDENTIAL MATERIALS STAFF

Tape Subject Log
(rev. 10/06)
Conv. No. 567-8 (cont.)


Recreation
-White House tennis court

Shultz left at 9:45 am.

Personnel management
-Department of Justice [DOJ]
-Problems
-Will R. Wilson [Head of Civil Division, DOJ]
-News article
-Texas background
-Connally
-Opposition election
-Reputation
-Law enforcement
-Justice Department
-Frank W. Sharp stock fraud case in Texas
-Time magazine story
-Sharp
-Electronic eavesdropping wiretaps
-Federal and state bank examiners
-Wilson's law firm
-Handling of fee
-Appearance of Wilson's involvement
-Handling by Time magazine
-Perceptions of Wilson's relationship with Sharp
-Problems
-Texas politics
-Sharp's influence within Democratic Party
-Options in response to allegations
-Wilson's legal position vis-a-vis Sharp
-Reputation
-Departure from DOJ
-Administration
-Effect on the President's political relationship with Texas
-Discussion of situation regarding Wilson between Mitchell and Connally
-Ben F. Barnes
-Fixing legislation
-Background
-Finances
-Loans
 12

NIXON PRESIDENTIAL MATERIALS STAFF

Tape Subject Log
(rev. 10/06)
Conv. No. 567-8 (cont.)


-Stock purchase
-National Bankers Life Insurance Company
-Federal bank examiner
-Allan Shivers
-Electronic eavesdropping equipment
-Inferences
-Effect of allegations on Texas Democrats
-Wilson involvement
-Congressman Henry B. Gonzalez
-Press releases
-Impact
-John G. Tower
-Support for Wilson
-Current position of administration
-Newspaper implications regarding the administration
-Sharp's support of Connally
-Texans
-Wilson's reputation
-Resignation
-Impact
-Options
-Reaction
-Morality of administration
-Sherman Adams case
-Dwight D. Eisenhower
-Political impact
-Possible press conference questions
-Action by administration
-Wilson's reputation in government
-Timing of alleged actions
-Borrowing of money
-Stock purchase
-Financial background
-Securities and Exchange Commission [SEC] investigation of Sharp
-Press leaks
-William J. Casey
-Legislative investigative committee
-Three grand juries
-Austin, Dallas, Houston
-Relationship of Sharp and Wilson
-Inferences
 13

NIXON PRESIDENTIAL MATERIALS STAFF

Tape Subject Log
(rev. 10/06)
Conv. No. 567-8 (cont.)


-Response to forthcoming article
-Attitude towards Wilson
-Representation of Bache and Company by Nixon and Mitchell’s
law firm
-Bond issue in West Virginia
-Governor's confession about fee

Polygraph tests
-William P. Rogers’ action
-Press publication of leaked information [Pentagon Papers]
-Deterrence effect
-Charles M. Cooke, Jr. in Elliot Richardson's department [Health, Education and
Welfare [HEW]]
-Trip to Alaska

Wilson
-Handling of issue
-Mitchell’s judgment

Teamsters Union
-James R. Hoffa
-Frank E. Fitzsimmons
-Meeting with Mitchell
-Request for clemency and pardon of Hoffa
-Speech
-Public request
-Sensitivity of issue
-Parole Board
-Release from imprisonment
-Time of parole
-Reconsideration
-Clemency
-Campaign support
-Labor support for the President's programs
-Mitchell
-Meany and the American Federation of Labor/Congress of Industrial
Organizations [AFL-CIO]
-Comparison of Hoffa and Fitzsimmons in regard to influence
-Supporters
-Fitzsimmons
-Support for clemency
 14

NIXON PRESIDENTIAL MATERIALS STAFF

Tape Subject Log
(rev. 10/06)
Conv. No. 567-8 (cont.)


-Commitment from Hoffa on union activity
-Support for the President in 1972 election
-Hoffa's influence
-Possible opposition by Democratic Party
-Edward M. Kennedy
-Public interest
-Handling
-Conversation with Shultz
-Support
-Barry M. Goldwater
-John J. Rhodes
-The President’s view
-Robert F. Kennedy's relationship with Hoffa
-Walter P. Reuther
-Meany


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BEGIN WITHDRAWN ITEM NO. 2
[Personal Returnable]
[Duration: 14s ]


END WITHDRAWN ITEM NO. 2

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Mitchell left at 10:09 am.