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
-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BEGIN WITHDRAWN ITEM NO. 1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END WITHDRAWN ITEM NO. 1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
-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
-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.

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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
-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
-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
-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
-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
	-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
-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
-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
-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
-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
-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
-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
	-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
-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
-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

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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
-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

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

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BEGIN WITHDRAWN ITEM NO. 15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

END WITHDRAWN ITEM NO. 15

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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.

Conversation No. 649-2

Date:  January 17, 1972
Time:  Unknown between 6:33 pm and 11:59 pm
Location:  Oval Office

Unknown people [Secret Service agents] met.

	Manolo Sanchez

[An unknown man talked with an unknown person at an unknown time.]

[Conversation No. 649-2A]

The President’s location
	-Residence

[End of telephone conversation]

The conversation was cut off at an unknown time before 11:59 pm.