649–1

Conversation No. 649-1

Date: January 17, 1972
Time: 3:46 pm - unknown before 6:38 pm
Location: Oval Office

The President met with Rose Mary Woods.

The President's schedule
-Cabinet dinner, January 20, 1972
-Seating
-Protocol
-Tables
-Shape
-Cabinet officers, White House staff, former Cabinet members
-Seating
-The President's table
-Kathleen (Carmoody) Stans
-Sally Peterson
-Maurice H. Stans
-Thelma C. (“Pat”) Nixon
-Protocol
-Cabinet officers
-The President's table
-Smoking
-Kathleen Stans
-Sally Peterson
-Martha Love (Woods) Hardin
-Clifford M. Hardin
-Maurice Stans
-White House staff
-Protocol
-Cabinet
-William P. and Adele (Langston) Rogers
-Melvin R. and Barbara Laird
-John N. and Martha (Beall) Mitchell
-The President's table
-Martha Mitchell
-John Mitchell
-Forthcoming resignation
-Timing of announcement
-John Mitchell
 2

NIXON PRESIDENTIAL MATERIALS STAFF

Tape Subject Log
(rev. 10/06)
Conv. No. 649-1 (cont.)


-Martha Mitchell
-John Mitchell's resignation
-Mrs. Nixon's views
-Reception in White House family quarters


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BEGIN WITHDRAWN ITEM NO. 1
[Personal Returnable]
[Duration: 42s ]


END WITHDRAWN ITEM NO. 1

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-Woods’s forthcoming talk with unknown person
-The Hardins
-Clifford Hardin's resignation
-Timing

Clifford Hardin
-Resignation
-Christmas
-Ford's Theater event
-Woods's attendance
-Patricia R. and Robert J. Hitt's attendance
-The Hardins
-Reception

The President's correspondence
-Allen S. Drury
-Don Shula
-Herbert Hill
-Previous correspondence
-Articles
-Previous relationship with the President
-Form of address
-Articles
 3

NIXON PRESIDENTIAL MATERIALS STAFF

Tape Subject Log
(rev. 10/06)
Conv. No. 649-1 (cont.)


-Views of Mrs. Nixon, Tricia Nixon Cox and Julie Nixon Eisenhower

Manolo Sanchez entered at an unknown time after 3:46 pm.

Refreshment

Sanchez left at an unknown time before 3:55 pm.

Cabinet dinner
-Arrangements
-Woods
-Lucy A. Winchester
-Thelma C. (“Pat”) Nixon

Dinner for DeWitt and Lila (Acheson) Wallace, January 28, 1972
-Musical entertainment

H. R. (“Bob”) Haldeman entered at an unknown time after 3:46 pm.

-Lawrence Welk
-Ray Conniff
-Army Chorus
-Possible selections
-Medleys
-Members

Woods left at 3:55 pm.

The President's forthcoming speech on Vietnam peace plan
-William L. Safire's work
-Henry A. Kissinger's view
-Kissinger’s draft
-Length
-Television presentation
-Kissinger's view
-Kissinger's role in negotiations
-References to Kissinger in draft

Speechwriting
-The President's efforts
-Raymond K. Price, Jr.'s work
 4

NIXON PRESIDENTIAL MATERIALS STAFF

Tape Subject Log
(rev. 10/06)
Conv. No. 649-1 (cont.)


-The President's method
-Compared with Franklin D. Roosevelt's method
-Kissinger's and Price’s effort on the President's speech
-Substance compared to form
-The President's method
-Outline
-Price's reworking
-Compared with Roosevelt's method
-Draft from speechwriters
-The President’s State of the Union addresses
-Fireside chats
-Campaign speeches
-Speechwriters' methods
-Cabinet Room
-Samuel I. Rosenman
-Robert Sherwood
-Harry Hopkins
-Interaction with Roosevelt
-Foreign policy

The President's schedule
-Meeting with John B. Connally
-Meeting with Arthur F. Burns
-Pay Board
-Connally's and George Shultz’s views
-The President's State of the Union Address

Stephen B. Bull entered at an unknown time after 3:55 pm.

Connally's arrival

Bull left at an unknown time before 4:05 pm.
 5

NIXON PRESIDENTIAL MATERIALS STAFF

Tape Subject Log
(rev. 10/06)
Conv. No. 649-1 (cont.)


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BEGIN WITHDRAWN ITEM NO. 2
[Personal Returnable]
[Duration: 3m 49s ]


END WITHDRAWN ITEM NO. 2

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Connally entered at 4:05 pm

Greetings

Seating arrangements

Oval Office furnishings

Connally's European trip
-Reception

Sanchez entered at an unknown time after 4:05 pm.

Refreshment

Sanchez left at an unknown time before 6:33 pm.

European meeting
-Progress
-William D. Eberle's talk with Paul A. Volcker
-Eberle’s schedule
-Forthcoming meeting with Connally
-Japanese
-Grain Pricing
-As issue
-Price increase
 6

NIXON PRESIDENTIAL MATERIALS STAFF

Tape Subject Log
(rev. 10/06)
Conv. No. 649-1 (cont.)


-US position
-Devaluation of dollar
-Citrus and tobacco
-Japan

Peter G. Peterson

Burns
-Possible meeting with the President
-Connally's views
-Connally’s possible participation
-Pay Board
-Spending ceiling
-Burns's conversations with Volcker and George P. Shultz
-Congressional action
-The President's State of the Union address or budget message
-Deficit
-The President's previous record
-State of the Union address
-The President's budget message
-Shultz
-Forthcoming talks with Connally and Haldeman
-Timing
-Congress
-Deficit
-Scheduling

The President's schedule
-State of the Union address
-Meeting with Burns
-Safire’s draft
-Connally's schedule
-Meeting with Burns
-Connally
-Herbert Stein and Shultz
-Quadriad
-Schedule for meeting, January 26, 1972
-Timing
-Burns
-Troika
-Budget and economic messages
 7

NIXON PRESIDENTIAL MATERIALS STAFF

Tape Subject Log
(rev. 10/06)
Conv. No. 649-1 (cont.)


-Connally's schedule
-[Barend W. Biesheuvel]
-Photograph
-Publicity
-Burns

Economy
-Money supply
-Interest rates
-Prime rate
-Short term Treasury Bills
-Refinancing
-Long term compared to short term loans
-Prime rate
-Hubert H. Humphrey
-Banker's Trust
-First National Savings
-Compared to 1964
-Money supply
-December figure
-Connally's conversation with Burns, January 15, 1972
-Burns's meeting with Open Market Committee
-Increase of money supply
-New Federal Reserve Board [FRB] member [John E. Sheehan]
-Compared with other members
-Connally’s and the President’s view
-Possible relationship with administration

Peterson
-Secretary of Commerce position
-Announcements
-Stans's resignation
-\"Council for Competition\" idea
-The President’s view
-Possible effect on confirmation
-Stans
-Connally's knowledge
-Peter M. Flanigan
-Work with James D. Hodgson
-Unemployment issue
-Speeches across nation
 8

NIXON PRESIDENTIAL MATERIALS STAFF

Tape Subject Log
(rev. 10/06)
Conv. No. 649-1 (cont.)


-Compared with west coast operation
-Unknown man from Pennsylvania
-Reorganization plans
-Compared with Stans's work with Hodgson and Shultz
-Hodgson's view

Unemployment
-Criticism of administration actions
-Compared with inflation issue
-Humphrey
-John F. Kennedy administration
-Studies
-Administration strategy
-Arthur J. Goldberg's previous actions as Secretary of Labor
-Combined effort by Commerce and Labor Secretaries
-State of the Union address draft
-Connally's perusal
-Statistical analysis
-\"Outlook\" column in Wall Street Journal, January 17, 1972
-Connally's and Peterson's views
-Current figure
-Application of monetary or fiscal action
-Social compared to economic problem
-Employment of young people
-Universal service
-Peterson’s possible role
-Categories
-Peterson's role
-Work by Peterson and Hodgson
-Stein and Council of Economic Advisors [CEA]
-Commerce Department
-Labor Department
-Employment offices
-Possible meeting
-Shultz
-Forthcoming administration actions
-Connally's coordination
-Hodgson
-Director of Census Bureau [George Hay Brown]
-Shultz
-Study
 9

NIXON PRESIDENTIAL MATERIALS STAFF

Tape Subject Log
(rev. 10/06)
Conv. No. 649-1 (cont.)


-Publicity
-Connally's coordination
-Hodgson
-Peterson
-Commerce and Labor Departments
-Employment offices
-Statistics
-Possible meeting with the President
-The President's schedule
-Peterson
-Forthcoming People's Republic of China [PRC] trip

Economy
-International economic policy
-Peterson
-\"Camp David operation\"
-Flanigan
-Conversation with Haldeman
-Council on International Economic Policy [CIEP]
-Role
-Monetary and trade policy
-Secretary of Treasury
-Volcker Committee
-Implementation and execution
-Shultz's and Kissinger's view
-Connally’s control
-State and Commerce Department
-Connally’s role
-Flanigan’s talk with Connally
-Monetary compared to economic policy
-Economic policy
-Military and political policy
-Peterson's previous actions
-Monetary policy
-Trade compared to monetary policy
-Treasury Department role
-State Department role
-Ash Council
-Roy L. Ash
-Trade
-Balance of payments problems
 10

NIXON PRESIDENTIAL MATERIALS STAFF

Tape Subject Log
(rev. 10/06)
Conv. No. 649-1 (cont.)


-Defense Department
-Laird's actions
-Offset agreements
-Effect
-Monetary policy
-Flanigan’s talk with Connally
-Treasury Department
-CEA
-Kissinger
-Shultz
-State Department
-Peterson
-FRB
-Diplomatic policy impact
-State Department
-Trade
-Balance of payments
-Realignment
-Responsibility
-Treasury Department
-Connally's cable during European trip
-State Department's actions
-Nathaniel Samuels
-Volcker's and Connally’s calls
-Rome meeting
-Finance Ministers of France, West Germany, Great Britain
-Trade representatives
-Samuels
-Flanigan
-Peterson
-Relations with Connally
-Monetary policy
-Secretary of Treasury
-Peterson's role
-Currency realignment
-Possible meeting
-Need for expertise
-Burns
-Need for unity
-Gold prices
-Currency realignment
 11

NIXON PRESIDENTIAL MATERIALS STAFF

Tape Subject Log
(rev. 10/06)
Conv. No. 649-1 (cont.)


-Absence
-Effect on negotiations
-Georges J.R. Pompidou's view
-Private agreement
-Announcement
-Possible effect on French exchanges
-Speculation
-Peterson, Burns and Shultz
-Flanigan
-Speechmaking
-Flanigan
-Compared to Peterson
-Connally's role
-Negotiations
-Need for unity
-Treasury Department role
-Flanigan
-Treasury Department role
-1971
-Rogers
-Trade
-Burden-sharing
-Defense and State Department
-Rogers and Laird
-The President’s approval
-Trade
-Cordell Hull
-State Department
-Commerce Department
-Treasury Department
-Eberle's role
-The President
-State Department
-Special Trade Representative
-Congressional statute
-Independence from State Department
-Powers
-Delegation of responsibility to Connally
-Monetary policy
-Philosophy
-Eberle
 12

NIXON PRESIDENTIAL MATERIALS STAFF

Tape Subject Log
(rev. 10/06)
Conv. No. 649-1 (cont.)


-Commerce Department
-State Department commercial representatives
-Rogers
-Contact with Connally
-Contact with Stans
-Future contact with Peterson
-Treasury Department
-Monetary crisis
-Secretary of State
-The President
-David M. Kennedy
-Connally's role
-Monetary policy
-Burden-sharing
-National Security Council [NSC]
-Eberle
-Negotiations
-Meeting with Japanese at San Clemente
-Kakuei Tanaka
-Eberle
-Stans
-Conversation with Eberle
-Connally
-Stans
-Mikio Mizuta
-Europeans
-Talks with Connally
-Monetary policy
-Revelation of intentions
-US unified position on trade
-Eberle
-Peterson
-Samuels
-Eberle
-Connally
-Authority
-Peterson
-Meetings with the President
-Flanigan
-Role
-CIEP
 13

NIXON PRESIDENTIAL MATERIALS STAFF

Tape Subject Log
(rev. 10/06)
Conv. No. 649-1 (cont.)


-Trade
-Jurisdiction
-Treasury compared to State Department
-CIEP
-Chairmanship by the President
-Rogers
-Vice chairmanship
-Organization
-Meetings
-Vice President Spiro T. Agnew
-Peterson
-Commerce Department
-Reorganization
-Prospects
-State Department
-Reorganization
-Under Secretary for Economic Affairs
-Rogers
-Flanigan
-Possible role
-Embassies
-Commerce Department
-CIEP
-Flanigan
-Chairman
-Appointment by the President
-Delegation of authority
-Connally
-Treasury Department
-Paper
-State Department
-Role
-Flanigan
-Desire for job
-Frederic V. Malek
-Relations with Connally
-Staff for Connally in White House
-Relations with State Department
-Restructuring of State and Commerce Departments
-Timing
-1972 election
 14

NIXON PRESIDENTIAL MATERIALS STAFF

Tape Subject Log
(rev. 10/06)
Conv. No. 649-1 (cont.)


-State Department
-Flanigan
-Responsibility for economic matters
-Monetary policy
-Treasury Department
-Commerce and State Departments
-Rogers
-Flanigan's role
-Reorganization
-Connally’s forthcoming talk with Flanigan
-Flanigan
-Efficiency
-Compared with Peterson
-Loyalty
-Relations with Connally
-Commerce and State Departments
-The President’s role
-Peterson, Stans, Flanigan shifts
-Announcement
-Timing
-Flanigan
-Possible talk with Haldeman
-Opportunity
-CIEP
-Peterson's tenure
-The President
-Connally
-Kissinger
-Shultz
-Peterson
-Compared with Flanigan
-New relationship with Flanigan
-Flanigan
-Role
-Trade
-State Department
-Under Secretary position
-Credibility
-Recommendations
-International monetary policy
-CIEP
 15

NIXON PRESIDENTIAL MATERIALS STAFF

Tape Subject Log
(rev. 10/06)
Conv. No. 649-1 (cont.)


-Peterson
-Relations with Connally
-Trade
-Eberle
-Relations with Connally
-Peterson
-Flanigan
-Possible relations with Connally
-Connally’s schedule
-Volcker

Treasury Department
-Departure of officials
-Reorganization
-World Bank
-International Monetary Fund [IMF]
-Inter-American Development Bank [IADB]

Robert S. McNamara
-Trip
-The President’s forthcoming trip to the PRC
-Report to the President
-Meeting with the President, Connally and Kissinger
-The President’s talk with Kissinger
-Foreign policy commitments
-India
-Bangladesh
-Kissinger's dinner with McNamara
-Coordination with Administration foreign policy
-Possible frequency

International monetary policy
-Export-Import [Ex-Im] Bank
-World Bank
-International Monetary Fund [IMF]
-McNamara
-World Bank
-Ex-Im Bank
-Other banks
-Votes
-Heads
 16

NIXON PRESIDENTIAL MATERIALS STAFF

Tape Subject Log
(rev. 10/06)
Conv. No. 649-1 (cont.)


-Latin Americans
-Asians
-Japan
-Possible meetings
-IADB head
-Peru
-Antonio Ortiz-Mena
-Expropriation of IPC
-Standard Oil of New Jersey
-John N. Irwin II
-Treasury Department
-Finance minister, ambassador
-Possible payment
-Copper company concession
-The President's meeting with McNamara
-Henry Kearns
-World Bank
-Unknown bank
-IADB
-Ortiz-Mena
-World Bank, IADB, IMF
-Impact on foreign policy
-IMF loans
-Compared with World Bank
-Accommodations of governments
-Credit ratings
-McNamara meeting
-Ortiz-Mena meeting

Raw materials development
-Connally's plan
-Latin America and Asia
-Japan
-Flanigan
-CIEP
-Forthcoming talk with Connally

Peru

Chile
-Elections
 17

NIXON PRESIDENTIAL MATERIALS STAFF

Tape Subject Log
(rev. 10/06)
Conv. No. 649-1 (cont.)


-News summary
-Salvador Allende Gossens
-Administration posture

Paris meeting
-Chilean credit
-Connally's memorandum
-Renegotiation of debts
-Treasury and State Departments
-Sidney Weintraub
-Conversation with Chilean Ambassador
-The President's instructions to Kissinger
-Memorandum
-Kissinger


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BEGIN WITHDRAWN ITEM NO. 9
[National Security
[Duration: 4m 10s ]


INTELLIGENCE


END WITHDRAWN ITEM NO. 9

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-Weintraub

International economic situation
-McNamara meeting
-US influence
-US military power
-Effect
-India
-State Department
-World Bank
 18

NIXON PRESIDENTIAL MATERIALS STAFF

Tape Subject Log
(rev. 10/06)
Conv. No. 649-1 (cont.)


-McNamara
-Conversation with Connally, January 14, 1972
-Views on Chilean debt renegotiation
-Chilean renegotiation
-Paris Club
-Default
-Maturity date
-Connally’s view
-Sanction
-Kissinger
-State Department
-Flanigan
-Kissinger
-Rogers
-Weintraub's response
-US policy

Cuba
-US policy
-State Department
-PRC
-Criticism

William B. Camp
-Reappointment as Comptroller of the Currency
-Connally's recommendation
-Malek's view
-Tenure
-Support from banks
-Malek's view

Robert S. Ingersoll
-Appointment as Ambassador to Japan
-Borg-Warner Corporation
-Forthcoming confirmation by Senate
-Forthcoming meeting with Connally
-Father, Roy Ingersoll
-New appointment

Camp's reappointment
-Connally's memorandum
 19

NIXON PRESIDENTIAL MATERIALS STAFF

Tape Subject Log
(rev. 10/06)
Conv. No. 649-1 (cont.)


-Malek's view
-Possible partisanship toward Democrats
-Bank charters
-Southern Republicans' views
-Connally's direction
-Bank charters
-Bank charters
-Wells Fargo
-Richard P. Cooley
-Federal Deposit Insurance Corporation [FDIC]
-Appearance
-Confusion with Wofford B. (“Bill”) Camp
-California
-South Carolina
-Agricultural field
-Conservatism
-Bankers
-Background
-Lyndon B. Johnson appointment
-Possible relation with Wofford Camp
-Democrat
-South Carolina
-Cotton business in San Joaquin Valley, California
-Conversation with Haldeman in 1968
-Possible meeting with the President
-Loyalty
-Method of operation
-Political loan made by unknown bank
-Indictment by US attorney
-Common practice
-Legality
-Bank examiners
-Report to Justice Department
-New law

The President's State of the Union speech draft
-Status
-Tone
-Strategy
 20

NIXON PRESIDENTIAL MATERIALS STAFF

Tape Subject Log
(rev. 10/06)
Conv. No. 649-1 (cont.)


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BEGIN WITHDRAWN ITEM NO. 12
[Personal Returnable]
[Duration: 33m 34s ]


END WITHDRAWN ITEM NO. 12

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Drugs
-As issue
-Marijuana
-Compared with environment issue
-Julie Nixon Eisenhower, Tricia Nixon Cox
-Compared with capital punishment
-Previous work by administration
-Public impression
-Pushers
-Incarceration
-Demonstrators in Washington, DC
-Japanese in World War II
-Courts
-Pushers
-Arrest
-Likelihood of conviction

Federal court system
-Judges
-School integration
-Richmond, Virginia judge [Robert R. Merhige, Jr.]
-Appointment by Johnson
-Accountability
-Need for change
-Mandatory reconfirmation
-Limited terms
-Possible criticism
-Accountability
-Mandatory retirement
 21

NIXON PRESIDENTIAL MATERIALS STAFF

Tape Subject Log
(rev. 10/06)
Conv. No. 649-1 (cont.)


-Congressmen
-Hugh Scott
-Electorate
-William O. Douglas
-Integration

Integration
-Democrats' stand
-Republican National Convention
-Edmund S. Muskie
-Hubert H. Humphrey
-Edward M. Kennedy
-Housing, schools, busing
-Legislation
-John D. Ehrlichman's work
-Administration action
-Timing
-Republican National Convention


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BEGIN WITHDRAWN ITEM NO. 13
[Personal Returnable]
[Duration: 2m 4s ]


END WITHDRAWN ITEM NO. 13

*****************************************************************


The President's stand on issues
-Drugs
-Court appointment
-Clement F. Haynsworth
-G. Harrold Carswell
-Public relations
-Busing
-Drugs
-Pushers
 22

NIXON PRESIDENTIAL MATERIALS STAFF

Tape Subject Log
(rev. 10/06)
Conv. No. 649-1 (cont.)


-Administration stand
-Arrests
-Sentencing
-The French Connection


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BEGIN WITHDRAWN ITEM NO. 14
[Personal Returnable]
[Duration: 12m 26s ]


END WITHDRAWN ITEM NO. 14

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The President's schedule
-Florida
-Fishing
-Invitation to Connally
-Robert H. Abplanalp's island
-Charles G. (“Bebe”) Rebozo, Abplanalp, Connally and George A. Smathers
-Connally's itinerary
-Speech at National Investment Conference Board [NICB]
-Abplanalp's invitation to Connally
-Key Biscayne
-Helicopter
-Lincoln's Birthday weekend
-Itinerary
-Connally's schedule
-Speech to NICB
-Alfalfa Club
-Fishing
 23

NIXON PRESIDENTIAL MATERIALS STAFF

Tape Subject Log
(rev. 10/06)
Conv. No. 649-1 (cont.)


*****************************************************************

BEGIN WITHDRAWN ITEM NO. 15
[Personal Returnable]
[Duration: 1m 37s ]


END WITHDRAWN ITEM NO. 15

*****************************************************************


The President's schedule
-Florida
-Number of invitees
-Abplanalp's home
-Invitation to Connally
-Visit with Connally in Texas
-Idanell B. (“Nellie”) Connally

Flanigan
-Forthcoming conversation with Connally

Connally left at 6:33 pm.

Request of an unknown person to come in

The President and Haldeman left at 6:33 pm.