Conversation No. 69-1

Date:  August 13, 1971
Time:  10:08 am - unknown before 11:57 am
Location:  Cabinet Room

The President met with Vice President Spiro T. Agnew, John N. Irwin, II, Melvin R. Laird, General George A. Lincoln, John N. Mitchell, Richard M. Helms, Admiral Thomas H. Moorer, George P. Shultz, Ronald I. Spiers, David Packard, Henry A. Kissinger, Colonel Richard T. Kennedy, Dr. [Forename unknown] Weinsmith, Caspar W. (ACap@) Weinberger, and Kenneth W. Dam

	[General conversation]

	The President=s meeting with the Joint Chiefs of Staff [JCS]

	Agenda for meeting

	National defense
		-Federal budget
		-1950's and 1960's

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BEGIN WITHDRAWN ITEM NO. 1
[National Security]
[Duration:  2m 57s  ]

	[UNINTELLIGIBLE]

	DISPOSITIONS AND CAPABILITIES

END WITHDRAWN ITEM NO. 1

[To listen to the segment (1h40m39s) declassified on 02/28/2002, please refer to RC# E-548, E-449, and E-550.]

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Recording was cut off at an unknown time before 11:57 am

Conversation No. 69-2

Date:  August 16, 1971
Time:  10:10 am - 11:27 am
Location:  Cabinet Room

Vice President Spiro Agnew met with William P. Rogers, John B. Connally, David Packard, John N. Mitchell, William T. Pecora, Clifford M. Hardin, Maurice H. Stans, James D. Hodgson, John G. Veneman, George W. Romney, David M. Kennedy, H. R. (ABob@) Haldeman, George P. Shultz, George H. W. Bush, John N. Irwin, II, Charls E. Walker, J. Philip Campbell, James M. Beggs, James T. Lynn, Laurence H. Silberman, Richard C. Van Dusen, Peter G. Peterson, Herbert G. Klein, Dr. Edward E. David, Jr., Raymond K. Price, Jr., Ronald L. Ziegler, Alexander P. Butterfield, Robert J. Brown, Paul W. McCracken, Caspar W. (ACap@) Weinberger, Arthur F. Burns, General George A. Lincoln, Herbert Stein, General Alexander M. Haig, Jr., and Frank J. Shakespeare

	[General conversation/Unintelligible]

The President and Stephen B. Bull entered at an unknown time after 10:10 am

	President=s schedule
		-Nelson A. Rockefeller
		-John V. Lindsay
			-Bush

Bull left at an unknown time before 11:27 am

	National economy
		-President=s programs
			-Cabinet Committee on Economic Policy
			-Development
				-Connally
					-Wage-price freeze
					-International Monetary Fund
				-President=s speech, August 15, 1971
				-Camp David meetings
					-Connally, Shultz, Burns, McCracken
					-Campbell, Weinberger
					-Cooperation
					-Burns= role
				-Need for Cabinet support
				-Briefings
		-Problems
			-Unemployment
			-Inflation
			-International dollar balance
			-Foreign asset reserves
			-Trade balances
			-Balance of payments
		-The President=s talks with Burns, Shultz, and McCracken
		-The President=s speech, August 15, 1971
		-Interest rates
		-President=s program
			-Wage-price freeze
			-Tax relief
			-Budget cuts
			-New economic policy
				-Franklin D. Roosevelt administration
			-Goals
			-Burns, McCracken, Shultz
			-Stein
			-Wage-price freeze
				-Application
					-Interest rates
						-Economic Stabilization Act of 1970
		-Interest rates
			-Federal Reserve Board [FRB]
			-Burns
			-Camp David meeting
			-International market
		-President=s program
			-Wage-price freeze
				-Dividends
			-Import surcharge
				-Trade Expansion Act of 1962
				-Application
					-Duty items
					-Exemptions
			-Wage-price freeze
				-Unprocessed food
			-Job development tax credit
				-Rate
				-Purpose
					-Production increase
				-US foreign aid
					-Germany and Japan
				-Machine tools
				-Application
					-Congress
						-House Ways and Means Committee
			-Import surcharge
				-Trade Expansion Act of 1962
				-Smoot-Hawley Tariff
				-Congress
				-General Agreement on Tariffs and Trade [GATT]
					-Quotas
					-Possible retaliation

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	Japan

[To listen to the segment (55s) declassified on 02/28/2002, please refer to RC# E-550.]

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			-President=s speech, August 15, 1971
			-Excise tax on automobiles
			-Personal exemptions on income tax
			-Federal budget
				-Deferrals
				-Revenue sharing
				-Cut in Cabinet department positions
					-Cost of Living Council
						-Lincoln
					-Attrition
					-Criticism from opponents
					-Private sector job stimulation
						-Automobile industry
		-Automobile industry
			-James M. Roche=s conversation with Connally and McCracken [?], August 15, 1971
			-Jobs
		-Unemployment
			-Government=s role
				-President=s previous conversation with Rockefeller
				-John Kenneth Galbraith
					-Increase federal budget
		-President=s program
			-Federal budget
				-Fiscal years 1972, 1973
				-Weinberger
				-Revenue sharing
				-Tax cuts
				-Expenditure cuts

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	Chiang Kai-Shek

[To listen to the segment (8s) declassified on 02/28/2002, please refer to RC# E-550.]

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				-Welfare reform
				-Tax credit
				-Personal exemption increase
				-Auto excise taxes
				-Revenue reduction
					-Import surcharge
				-Expenditure reduction
				-Employment stimulation
				-Economic expansion
			-Import surcharge
				-Inflation
					-Budget cuts
					-Tax cuts
			-Inflation
				-Dollar stabilization
				-Import surcharge
				-Wage-price freeze
				-Import surcharge
					-Burns
			-Wage-price freeze
				-Length
				-Follow-up program
			-Convertibility of dollar

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	Japan

[To listen to the segment (3m31s) declassified on 02/28/2002, please refer to RC# E-550.]

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			-Wage-price freeze
				-Length
				-Inflation
				-Duration
				-Labor
				-Monetary aspect
			-Taxes
			-Anti-trust laws
		-Strikes
			-Effect on farm exports

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	Japan, Europe, Middle East

[To listen to the segment (10m38s) declassified on 02/28/2002, please refer to RC# E-550.]

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			-Connally=s forthcoming press conference
				-Network coverage
			-Bernard J. (ABunny@) Lasker=s call to Haldeman, August 16, 1971
				-Stock market
			-Effect
				-Burns= conversation with central bankers, August 15, 1971

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	Japan and Canada

[To listen to the segment (2m59s) declassified on 02/28/2002, please refer to RC# E-550.]

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The President left at an unknown time before 11:27 am

	[General conversation/Unintelligible]

Agnew, et al. left at 11:27 am