About this recording
929-017a
- President Richard M. Nixon
- Alexander M. Haig
- UNKNOWN
- George P. Shultz
- Herbert Stein
- Roy L. Ash
- Arthur F. Burns
- Kenneth R. Cole
May 29, 1973
Conversation No. 929-17
Date: May 29, 1973
Time: 4:03 pm - 5:10 pm
Location: Oval Office
The President met with Alexander M. Haig, Jr.
White House staff
-Haig’s conversation with William P. Rogers
-Rogers’s continuance in office
-Henry A. Kissinger
-Timing of departure
-Announcement
-Meeting
An unknown man entered at an unknown time after 4:03 pm.
President’s schedule [?]
The unknown man left at an unknown time before 4:09 pm.
White House staff
-Haig’s conversation with Rogers
-Rogers’s continuance in office
-Watergate
-Haig’s role
-President’s views
-Successor
-41-
NIXON PRESIDENTIAL LIBRARY AND MUSEUM
Tape Subject Log
(rev. July-2011)
Conversation No. 929-17 (cont’d)
-John B. Connally
-Secretary of State
-Restoration of foreign policy
-Kissinger
-Personal animosity
-Timing of departure
-Rogers’s relations with Kissinger
-Rogers’s continuance in office
-Watergate
-Animosity
-President’s views
-Objectivity
-Possible ambassadorship
-Rogers’s ego
-Anger
-Rogers’s relations with Kissinger
-Effect on President
-Undermining authority
-Friction
President’s schedule
-Meeting with economists
-Herbert G. Stein’s statement
Haig’s schedule
-Meeting with economists
-Follow up on activities
-Cooperation on tasks
-Dinner
President’s schedule
-Meeting with Democratic Congressional leaders
-Dinner with Haig
White House staff
-Haig’s conversation with Rogers
-Rogers’s continuance in office
-42-
NIXON PRESIDENTIAL LIBRARY AND MUSEUM
Tape Subject Log
(rev. July-2011)
Conversation No. 929-17 (cont’d)
-Timing
-Successor
-Kissinger
-Rogers’s ego
-[David] Kenneth Rush
-Problems
-Rogers
-Ego
-Kissinger
George P. Shultz, Herbert G. Stein, Roy L. Ash, Arthur F. Burns, Kenneth R. Cole, Jr., John T.
Dunlop and John B. Connally entered at 4:09 pm.
Greetings
National economy
-President’s meeting with Cole, May 28
-Stein’s memorandum
-Economic indicators for June 2
-Unemployment
-Whole sale price index
-Planned equipment expenditure
-Retail sales figures
-Evidence of decline
-Planned equipment expenditure
-Manufacturing sector
-Unemployment
-Increase
-Action
-Previous decisions by administration
-Decline in April economic indicators
-Rates
-Whole sale prices
-Consumer Price Index [CPI]
-Durable good
-Retail sales
-Status
-43-
NIXON PRESIDENTIAL LIBRARY AND MUSEUM
Tape Subject Log
(rev. July-2011)
Conversation No. 929-17 (cont’d)
-Cooling
-Pace
-Sustainability
-President’s actions
-First quarter
-Reports
-Business capital investment
-Goods
-Figures
-Industrialists
-Leadership
-Psychology of investors
-Spending decline
-Consumer sentiment
-Inventory investment
-Inventory to sales ratio
-Decline
-Rate
-Sustainability
-Federal Reserve actions
-Speech
-Appeal to businesses
-Mandatory regulations
-Banks
-Domestic
-Foreign
-Trade
-Recession
-Control
-Boom
-Inflation
-Popular concern
-Survey
-Prosperity
-Inflation
-Stock market
-Interest rates
-44-
NIXON PRESIDENTIAL LIBRARY AND MUSEUM
Tape Subject Log
(rev. July-2011)
Conversation No. 929-17 (cont’d)
-Congressional relations
-Federal Reserve actions
-Power
-Restraint
-Possible restraint
-Boom rate
-Inflation
-Wage and price controls
-Timing of election
-Taxes
-Compulsory savings plan
-Exemptions
-Low income
-Businesses
-Individuals
-Upper income bracket
-Ties
-Individuals
-Income
-Corporations
-Profits
-Bursting power
-Interest
-US Treasury
-Reversibility
-Experts
-Tax Bill
-Credibility
-Wilbur D. Mills’s role in Congress
-Reduction
-Popularity
-“Close rule”
-Tax package
-Rates
-Range
-Businesses
-Politics
-45-
NIXON PRESIDENTIAL LIBRARY AND MUSEUM
Tape Subject Log
(rev. July-2011)
Conversation No. 929-17 (cont’d)
-President’s discretional authority
-Congressional reaction
-Veto power
-Reorganization
-Modification of rates
-Partnership role
-Mood
-Business tax
-Henry S. Reuss
-Business investment
-Tax credits
-US competitiveness
-Manufacturing
-Level
-Rate of change
-Sustainability
-Congress
-Tax credit
-Successes
-Economists’ views
-Compulsory savings
-Economic stabilization reserve
-Business
-Business profits
-Possible recession
-Labor negotiations
-Possible taxes
-Gasoline
-Burns’ view
-Administration’s posture
-Leadership
-Burns
-Excise tax on gasoline
-Burns’s view
-Economists
-Possible increase
-Political, psychological effects
-46-
NIXON PRESIDENTIAL LIBRARY AND MUSEUM
Tape Subject Log
(rev. July-2011)
Conversation No. 929-17 (cont’d)
-Effect on concern with inflation
-Prices
-Travel
-Waste contracts
-Cost of Living Index
-Georges J. R. Pompidou’s action prior to his election
-Inflation
-Criticism
-Lowered excise tax
-Political grounds compared to economic grounds
-Possible increase
-Supply
-Effects
-Politics
-Energy supply
-Arabs
-Use of funds
-Research and development fund
-Effects
-Income taxes
-Research and development fund
-Signal to oil producers
-Arabs
-Patriotic issue
-Economic issue
-Reduction of consumption
-Control mechanism
-Patriotism
-Cash flow
-Signal to oil producers
-Politics
-Popular reaction
-Concern for inflation
-Taxes
-Excise tax
-Hard sell
-Taxes
-47-
NIXON PRESIDENTIAL LIBRARY AND MUSEUM
Tape Subject Log
(rev. July-2011)
Conversation No. 929-17 (cont’d)
-Businesses
-Tax package
-Image
-Businesses
-Individuals
-Negotiations
-Business profits
-Wage and price controls
-Compulsory savings
-Politics
-Gas tax
-Possible steel price increase
-Cost of Living Council [COLC] hearings
-Prenotification forms
-Profit
-Visibility
-Companies
-Executive compensation
-Increases
-Labor management
-Prenotification
-Possible extension
-Lumber prices
-Supply measures
-Agriculture Department
-Scrap steel
-Supply measures
-Prices
-Capital inflation
-Oil refinery construction
-Manpower
-Resources
-Boom
-Causes
-Business controls
-Wilbur Mills
-Objects
-48-
NIXON PRESIDENTIAL LIBRARY AND MUSEUM
Tape Subject Log
(rev. July-2011)
Conversation No. 929-17 (cont’d)
-Stock market
-Wall Street
-Public confidence
-Overhead and volume
-Commission rates
-Fixed
-Sustainability
-Possible failures
-Timing
-Tax Bill
-Price of brokerage stocks
-Market value
-Cash
-US public opinion
-Status
-Employment, savings and spending
-Capital investment
-Rate
-Competitiveness
-Plants
-Equipment
-Client investments
-Germany
-Australia
-Sweden
-Switzerland
-Obsolescence
-Physical plants
-Industry
-Rate
-Business profits
-Corporations
-Compared with previous years
-Possible effect on wages
-Inflation rate
-Economic studies
-Possible decline
-49-
NIXON PRESIDENTIAL LIBRARY AND MUSEUM
Tape Subject Log
(rev. July-2011)
Conversation No. 929-17 (cont’d)
-Compared with Europe
-Problem
-Politics
-Psychology
-Possible wage and price freeze
-Burns’s view
-Stock market
-Effect of interest rate
-Popular view of inflation
-Anti-inflation policy
-Interest rates
-Prime rate
-Stability
-Long-term rates
-Credibility of administration’s effort
-Excise tax on gasoline
-Justifying possible increase
-Energy crisis and dependence on Arab oil
-Popular opinion
-Washington, DC
-Tactics
-Possible Phase III actions
-United States Steel [?]
-Executive salaries
-Business investment tax credit
-Agriculture
-Subsidies
-Taxes
-Energy
-Tax package
-President’s possible statement regarding Congress
-Trade bill
-President’s previous meeting with congressmen
-Pompidou
-Relationship of politics to economics
-Stein’s view
-President’s view
-50-
NIXON PRESIDENTIAL LIBRARY AND MUSEUM
Tape Subject Log
(rev. July-2011)
Conversation No. 929-17 (cont’d)
-Policy, August 1971
-Economic rationale
-Gold
-Tax
-Imports
-Status
-President’s view
-Performance
-Inflation rate
-Consumer confidence
-Boom
-Reliability
-Index
-Survey
-Inflation rate
-Interest rates
-Wall Street
-Inflation rate
-Relationship of politics to economics
-Consumer confidence
-Political side
-Connally
-Press
-Popular view of controls
-Congress
-Role of administration
-Main street
-Insecurity
-Value of controls
-Status quo
-US leaders
-Free enterprise
-Controls
-Requirements for possible actions
-Stein’s memorandum
-Action
-Program
-51-
NIXON PRESIDENTIAL LIBRARY AND MUSEUM
Tape Subject Log
(rev. July-2011)
Conversation No. 929-17 (cont’d)
-Size
-Quadriad’s schedule
-Testimony
-Organization for Economic Cooperation and Development [OECD]
meeting
-Paris
-Possible wage and price freeze
-President’s view
-Psychological impact
-Acceptability of actions
-Tax package
-Dunlop
-Excise tax on gasoline
-Possible increase
-Energy
-Investment tax credit
-Compulsory savings
-Tax Bill
-Congressional action
-Veto
-Popular view
-Politics
-Stock market
-Quadriad’s schedule
-OECD meeting
-Paris
-Forthcoming meeting with President
-Timing
-Forthcoming memorandum to President
-Agenda
-Investment tax credit
-Compulsory savings
-Excise tax on gasoline
-Fiscal matters
-Dunlop
-Possible action by administration
-Sale
-52-
NIXON PRESIDENTIAL LIBRARY AND MUSEUM
Tape Subject Log
(rev. July-2011)
Conversation No. 929-17 (cont’d)
-Economic package
-Psychological reasons
-Earl L. Butz’s view on food prices
-Housewives
-Possible Securities and Exchange Commission [SEC] regulation on sales of
stock holdings
-Mutual funds
-Banks
-Corporations
-Economic package
President’s schedule
-Joe D. Waggonner, Jr.
-Southern Democratic congressmen
-Republicans
-Support for President
-Iceland trip and meeting with Pompidou
Burns’s forthcoming trip
Haig et al. left at 5:10 pm.
Date: May 29, 1973
Time: 4:03 pm - 5:10 pm
Location: Oval Office
The President met with Alexander M. Haig, Jr.
White House staff
-Haig’s conversation with William P. Rogers
-Rogers’s continuance in office
-Henry A. Kissinger
-Timing of departure
-Announcement
-Meeting
An unknown man entered at an unknown time after 4:03 pm.
President’s schedule [?]
The unknown man left at an unknown time before 4:09 pm.
White House staff
-Haig’s conversation with Rogers
-Rogers’s continuance in office
-Watergate
-Haig’s role
-President’s views
-Successor
-41-
NIXON PRESIDENTIAL LIBRARY AND MUSEUM
Tape Subject Log
(rev. July-2011)
Conversation No. 929-17 (cont’d)
-John B. Connally
-Secretary of State
-Restoration of foreign policy
-Kissinger
-Personal animosity
-Timing of departure
-Rogers’s relations with Kissinger
-Rogers’s continuance in office
-Watergate
-Animosity
-President’s views
-Objectivity
-Possible ambassadorship
-Rogers’s ego
-Anger
-Rogers’s relations with Kissinger
-Effect on President
-Undermining authority
-Friction
President’s schedule
-Meeting with economists
-Herbert G. Stein’s statement
Haig’s schedule
-Meeting with economists
-Follow up on activities
-Cooperation on tasks
-Dinner
President’s schedule
-Meeting with Democratic Congressional leaders
-Dinner with Haig
White House staff
-Haig’s conversation with Rogers
-Rogers’s continuance in office
-42-
NIXON PRESIDENTIAL LIBRARY AND MUSEUM
Tape Subject Log
(rev. July-2011)
Conversation No. 929-17 (cont’d)
-Timing
-Successor
-Kissinger
-Rogers’s ego
-[David] Kenneth Rush
-Problems
-Rogers
-Ego
-Kissinger
George P. Shultz, Herbert G. Stein, Roy L. Ash, Arthur F. Burns, Kenneth R. Cole, Jr., John T.
Dunlop and John B. Connally entered at 4:09 pm.
Greetings
National economy
-President’s meeting with Cole, May 28
-Stein’s memorandum
-Economic indicators for June 2
-Unemployment
-Whole sale price index
-Planned equipment expenditure
-Retail sales figures
-Evidence of decline
-Planned equipment expenditure
-Manufacturing sector
-Unemployment
-Increase
-Action
-Previous decisions by administration
-Decline in April economic indicators
-Rates
-Whole sale prices
-Consumer Price Index [CPI]
-Durable good
-Retail sales
-Status
-43-
NIXON PRESIDENTIAL LIBRARY AND MUSEUM
Tape Subject Log
(rev. July-2011)
Conversation No. 929-17 (cont’d)
-Cooling
-Pace
-Sustainability
-President’s actions
-First quarter
-Reports
-Business capital investment
-Goods
-Figures
-Industrialists
-Leadership
-Psychology of investors
-Spending decline
-Consumer sentiment
-Inventory investment
-Inventory to sales ratio
-Decline
-Rate
-Sustainability
-Federal Reserve actions
-Speech
-Appeal to businesses
-Mandatory regulations
-Banks
-Domestic
-Foreign
-Trade
-Recession
-Control
-Boom
-Inflation
-Popular concern
-Survey
-Prosperity
-Inflation
-Stock market
-Interest rates
-44-
NIXON PRESIDENTIAL LIBRARY AND MUSEUM
Tape Subject Log
(rev. July-2011)
Conversation No. 929-17 (cont’d)
-Congressional relations
-Federal Reserve actions
-Power
-Restraint
-Possible restraint
-Boom rate
-Inflation
-Wage and price controls
-Timing of election
-Taxes
-Compulsory savings plan
-Exemptions
-Low income
-Businesses
-Individuals
-Upper income bracket
-Ties
-Individuals
-Income
-Corporations
-Profits
-Bursting power
-Interest
-US Treasury
-Reversibility
-Experts
-Tax Bill
-Credibility
-Wilbur D. Mills’s role in Congress
-Reduction
-Popularity
-“Close rule”
-Tax package
-Rates
-Range
-Businesses
-Politics
-45-
NIXON PRESIDENTIAL LIBRARY AND MUSEUM
Tape Subject Log
(rev. July-2011)
Conversation No. 929-17 (cont’d)
-President’s discretional authority
-Congressional reaction
-Veto power
-Reorganization
-Modification of rates
-Partnership role
-Mood
-Business tax
-Henry S. Reuss
-Business investment
-Tax credits
-US competitiveness
-Manufacturing
-Level
-Rate of change
-Sustainability
-Congress
-Tax credit
-Successes
-Economists’ views
-Compulsory savings
-Economic stabilization reserve
-Business
-Business profits
-Possible recession
-Labor negotiations
-Possible taxes
-Gasoline
-Burns’ view
-Administration’s posture
-Leadership
-Burns
-Excise tax on gasoline
-Burns’s view
-Economists
-Possible increase
-Political, psychological effects
-46-
NIXON PRESIDENTIAL LIBRARY AND MUSEUM
Tape Subject Log
(rev. July-2011)
Conversation No. 929-17 (cont’d)
-Effect on concern with inflation
-Prices
-Travel
-Waste contracts
-Cost of Living Index
-Georges J. R. Pompidou’s action prior to his election
-Inflation
-Criticism
-Lowered excise tax
-Political grounds compared to economic grounds
-Possible increase
-Supply
-Effects
-Politics
-Energy supply
-Arabs
-Use of funds
-Research and development fund
-Effects
-Income taxes
-Research and development fund
-Signal to oil producers
-Arabs
-Patriotic issue
-Economic issue
-Reduction of consumption
-Control mechanism
-Patriotism
-Cash flow
-Signal to oil producers
-Politics
-Popular reaction
-Concern for inflation
-Taxes
-Excise tax
-Hard sell
-Taxes
-47-
NIXON PRESIDENTIAL LIBRARY AND MUSEUM
Tape Subject Log
(rev. July-2011)
Conversation No. 929-17 (cont’d)
-Businesses
-Tax package
-Image
-Businesses
-Individuals
-Negotiations
-Business profits
-Wage and price controls
-Compulsory savings
-Politics
-Gas tax
-Possible steel price increase
-Cost of Living Council [COLC] hearings
-Prenotification forms
-Profit
-Visibility
-Companies
-Executive compensation
-Increases
-Labor management
-Prenotification
-Possible extension
-Lumber prices
-Supply measures
-Agriculture Department
-Scrap steel
-Supply measures
-Prices
-Capital inflation
-Oil refinery construction
-Manpower
-Resources
-Boom
-Causes
-Business controls
-Wilbur Mills
-Objects
-48-
NIXON PRESIDENTIAL LIBRARY AND MUSEUM
Tape Subject Log
(rev. July-2011)
Conversation No. 929-17 (cont’d)
-Stock market
-Wall Street
-Public confidence
-Overhead and volume
-Commission rates
-Fixed
-Sustainability
-Possible failures
-Timing
-Tax Bill
-Price of brokerage stocks
-Market value
-Cash
-US public opinion
-Status
-Employment, savings and spending
-Capital investment
-Rate
-Competitiveness
-Plants
-Equipment
-Client investments
-Germany
-Australia
-Sweden
-Switzerland
-Obsolescence
-Physical plants
-Industry
-Rate
-Business profits
-Corporations
-Compared with previous years
-Possible effect on wages
-Inflation rate
-Economic studies
-Possible decline
-49-
NIXON PRESIDENTIAL LIBRARY AND MUSEUM
Tape Subject Log
(rev. July-2011)
Conversation No. 929-17 (cont’d)
-Compared with Europe
-Problem
-Politics
-Psychology
-Possible wage and price freeze
-Burns’s view
-Stock market
-Effect of interest rate
-Popular view of inflation
-Anti-inflation policy
-Interest rates
-Prime rate
-Stability
-Long-term rates
-Credibility of administration’s effort
-Excise tax on gasoline
-Justifying possible increase
-Energy crisis and dependence on Arab oil
-Popular opinion
-Washington, DC
-Tactics
-Possible Phase III actions
-United States Steel [?]
-Executive salaries
-Business investment tax credit
-Agriculture
-Subsidies
-Taxes
-Energy
-Tax package
-President’s possible statement regarding Congress
-Trade bill
-President’s previous meeting with congressmen
-Pompidou
-Relationship of politics to economics
-Stein’s view
-President’s view
-50-
NIXON PRESIDENTIAL LIBRARY AND MUSEUM
Tape Subject Log
(rev. July-2011)
Conversation No. 929-17 (cont’d)
-Policy, August 1971
-Economic rationale
-Gold
-Tax
-Imports
-Status
-President’s view
-Performance
-Inflation rate
-Consumer confidence
-Boom
-Reliability
-Index
-Survey
-Inflation rate
-Interest rates
-Wall Street
-Inflation rate
-Relationship of politics to economics
-Consumer confidence
-Political side
-Connally
-Press
-Popular view of controls
-Congress
-Role of administration
-Main street
-Insecurity
-Value of controls
-Status quo
-US leaders
-Free enterprise
-Controls
-Requirements for possible actions
-Stein’s memorandum
-Action
-Program
-51-
NIXON PRESIDENTIAL LIBRARY AND MUSEUM
Tape Subject Log
(rev. July-2011)
Conversation No. 929-17 (cont’d)
-Size
-Quadriad’s schedule
-Testimony
-Organization for Economic Cooperation and Development [OECD]
meeting
-Paris
-Possible wage and price freeze
-President’s view
-Psychological impact
-Acceptability of actions
-Tax package
-Dunlop
-Excise tax on gasoline
-Possible increase
-Energy
-Investment tax credit
-Compulsory savings
-Tax Bill
-Congressional action
-Veto
-Popular view
-Politics
-Stock market
-Quadriad’s schedule
-OECD meeting
-Paris
-Forthcoming meeting with President
-Timing
-Forthcoming memorandum to President
-Agenda
-Investment tax credit
-Compulsory savings
-Excise tax on gasoline
-Fiscal matters
-Dunlop
-Possible action by administration
-Sale
-52-
NIXON PRESIDENTIAL LIBRARY AND MUSEUM
Tape Subject Log
(rev. July-2011)
Conversation No. 929-17 (cont’d)
-Economic package
-Psychological reasons
-Earl L. Butz’s view on food prices
-Housewives
-Possible Securities and Exchange Commission [SEC] regulation on sales of
stock holdings
-Mutual funds
-Banks
-Corporations
-Economic package
President’s schedule
-Joe D. Waggonner, Jr.
-Southern Democratic congressmen
-Republicans
-Support for President
-Iceland trip and meeting with Pompidou
Burns’s forthcoming trip
Haig et al. left at 5:10 pm.