Date: June 11, 1973
Time: 10:01 am – 12:11 pm
Location: Oval Office
The President met with Alexander M. Haig, Jr.
Watergate
-Elliot L. Richardson
-Conversation with Haig
-Mandate to Archibald Cox
-Dita Beard
-James O. Eastland inquiry
-Richardson’s role in administration
-Richardson’s role
-Qualifications
-International Telephone and Telegraph [ITT]
-E. Howard Hunt, Jr.’s meeting with Beard
-Charles W. Colson
-Contribution
-Richard W. McLaren
Richardson
-Role in administration
-Attitude
-Recommendations concerning appointments
-Judges, US Attorneys
-Possible review
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-Conservative reviewer
-J. Fred Buzhardt, Jr., Leonard Garment
-Purpose
-Political opposition to administration
-Haig’s assessment of Richardson
-President’s appointment
-Political considerations
Claudia A. (Taylor) (“Lady Bird”) Johnson
-Possible role in administration
-Alternative candidate
-Military [?]
-Northeastern community
-Military
Telephone call [?]
John B. Connally, George P. Shultz, Herbert Stein, and John T. Dunlop entered at 10:07 am.
Golf
-Connally’s recent score
-Connally’s clubs
-Wilson
-Spalding
-Donald McI. Kendall
-Ownership of Wilson
-Graphite shafts, Augusta (Georgia) course
-Distance of shots
-Quality
Improved sports equipment
-Pole vault
-Quality of new poles
-Tracks
-Charlie Paddock
-Track and Field
-Quality of running surface
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-Influence on speed
-University of Southern California
-Running style
Horse racing
-“Secretariat”
-Compared to “Man O’War”
-Speed
-Kentucky Derby, Preakness, Belmont Stokes
-Length of race
-Winners of individual races
-Triple Crown winners
-Stud fee
-$30,000
-Earnings
-$1,000,000 per year
National economy
-Administration’s plan
-Philosophical differences
-Economy compared to politics
-Watergate
-Possible Congressional actions on freeze
-Victory
-Option 1
-Three month freeze
-Possible counteraction by White House
-Veto
-Television [TV]
-Override
-Labor leaders
-President’s decision-making process
-Consultation
-Melvin R. Laird’s views
-Review
-Europe
-Labor-Management Committee
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-Congressional strategy
-Hugh Scott, Gerald R. Ford
-Bryce N. Harlow’s views
-Alternatives to freeze
-President’s possible speeches
-Quality of prepared speech
-Possible freeze
-Effects
-Recession
-Black markets
-Rationing
-Presentation of options to President
-Positive as opposed to negative options
-Possible freeze
-Options
-Uncertainty
-Follow-up
-Connally, Haig views
-August 1972 freeze
-Phase II and III
-Effect
-Business
-Economy
-Implementation
-Perception of certainty
-Possible Congressional action
-Possible freeze
-Plans
-Dunlop, Shultz, and Stein views
-Analysis of President’s view
-Congress
-90-day freeze
-President’s opposition
-Scope
-Follow-up
-Meeting of Shultz, Stein, and Dunlop
-Call from Haig
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-Shultz’s plan
-Option 2
-Controls
-Popular opinion
-Follow-up
-Scott
-Option 2
-Raw agricultural products
-Farm Prices
-Export Controls, PL 480
-Shultz’s conversation with John N. Turner, Canada’s Finance Minister
-Canada’s situation
-International prices
-Effect of freeze
-President’s efforts
-Raw agricultural products
-Exceptions
-Implementation
-Auction prices
-Exports
-Dunlop’s assessment
-Effect on food prices
-Retail prices
-Previous experience
-Raw agricultural products
-Phase I compared to Phase II
-Farm
-Lettuce, artichokes
-Controls
-Ambiguity
-Coverage
-Food prices
-Phase II
-Profits, margins
-White House awareness
-Continuous ceilings
-Meat, bread, lettuce, butter
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-Raw agricultural products
-Compared to August 1970
-Phase II
-Effects
-Rate of increase
-Public opinion
-Foreign products
-Connally’s viewpoint
-Retail food prices
-Ceiling
-Minimum
-Artichokes
-Producer prices
-Ceiling
-Regulation, administration
-Retail food prices
-Ceiling
-Effect on retailer
-Retail prices compared to commodities
-Support for Option 2
-Production levels
-Steel, chemicals, aluminum, paper, textiles
-Plant utilization
-Pressure
-Price increases
-Gasoline
-Retail price controls
-Exemption
-Increase
-Phase II
-Comprehensive controls
-Gradual elimination
-Minimum control
-Additional commodities, business
-Compliance
-Length of freeze
-30-day
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-Limitations
-Phase II compared to Phase III
-Extensibility
-Gasoline
-Retail prices
-Administration
-Scale
-Retail food prices
-Grocery stores
-Follow-up
-Industrial prices
-Pre-notification of industry
-Value of businesses
-Timing
-Executive compensation
-Labor leaders
-Congress
-Duration
-Grace period
-Price rollbacks
-30-day
-60-day
-Arthur F. Burns
-Discontinuation of freezes
-Wages
-Teamsters
-Prices, costs
-60 days compared to 30 days
-Leak
-Effect on prices
-Political considerations
-Follow-up
-Public statements
-Phase II
-Option 2
-Congressional action
-Legislation
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-Trade
-Alaska pipeline
-Prices compared to wages
-60 days
-Business reaction
-Costs
-Labor negotiations
-Frank E. Fitzsimmons
-Teamsters
-Retroactive pay
-Phase II
-Adherence
-Settlement
-Business reaction
-Wage settlement
-Cost of Living Council [COLC]
-Price increases
-Justifications
-Retroactive increases
-Promises
-Previous expansion
-90-day freeze
-60 days
-Connally’s support
-Wages
-White House compared to Congress package
-Duration
-Veto
-Public opinion
-Housewives
-Price increases
-Haig
-Option 2
-Shultz
-Option 1
-President’s support
-Compared to Phase III
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-Strength
-Publicity
-Amendment
-Dunlop
-Controls
-Permanence
-Rent, dividends, profits, interest
-Housing
-Washington, DC
-Effect
-Rent control
-Food prices
-Controls
-Follow up
-Increase
-Summer
-Connally’s viewpoint
-Retail
-Exemptions
-Retail compared to wholesale freeze
-Food grains, soybeans
-Exports
-Exports
-PL 480
-Effect on US foreign policy
-Europe
-Japan
-Latin America, Asia
-Importance
-Option 2
-Possible speech by President
-Export Controls
-Follow-Up
-Uncertainty
-Haig’s conversations with Brent Scowcroft and Henry A. Kissinger
-Disaster
-Southeast Asia
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-Food prices
-Freezes
-Retail
-Controls of exports
-Sales to People’s Republic of China [PRC], Union of Soviet Socialist
Republics [USSR]
-Effect on domestic shortages
-US obligations
-Exceptions
-Political purposes
-PL 480
-Legal problem
-Surpluses
-Secretary of Agriculture
-Existing legislation
-Shortages
-Sales Abroad
-Certification
-Export compared to domestic market
-Licenses
-Earl Butz
-Sales to USSR, Japan, PRC
-Reduction in prices
-Soybeans
-Amount as certified by Butz
-Shultz’s assessment
-Stein’s assessment
-Contradiction
-Implementation
-Licensing system, reporting
-Purpose
-Stable domestic prices
-Congress
-Note
-Request
-Changes in existing legislation
-Statement [?]
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-William P. Rogers [?]
-Food exports
-Reporting
-Limitations
-US commitment
-License
-Reporting
-Controls
-Outstanding orders
-Implementation
-Possible freeze
-Raw agricultural products
-Effects
-Gasoline prices, grocery stores
-Wholesale market
-Possible ceiling
-Soybeans, corn, wheat, cattle, hogs
-Effect on livestock herds
-Grain crops
-Effect on hog, poultry and cattle industries
-Licensing of producers
-Export Controls
-Agriculture Department
-Effect
-Size of current crops
-Wheat
-Effect on food prices
-Weather
-Improving conditions
-Possible freeze
-Effect
-Bipartisan support
-World War II analogy
-Duration
-Prospects
-Rationing
-Black markets
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-Improvement in marketplace
-Export controls
-Report
-Crop yield
-Estimates
-Effect on prices
-Price ceiling
-Duration
-Short and long term
-Meat
-Price compared to supply
-Feed grains
-Exports
-Congress
-Prices
-Possible subsidies
-Effect on domestic and world economies
-Ceiling
-World War II analogy
-Connally’s view
-Background as farmer
-Possible freeze
-Implementation
-Duration
-Possible freeze
-Wages and prices
-Implementation
-Mandatory compliance
-Political considerations
-Congress
-Previous experience
-Effect on business
-Pending negotiations
-Current guideline
-Implementation
-Price controls after freeze
-Opposition from business
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-Wage Board, Dunlop
-Labor Management Committee
-Appointment of czar
-Food
-Negotiations
-Construction, railroad, steel, petroleum, rubber industry support
-Fitzsimmons
-Teamsters
-Postal workers
-Automobile workers
-Cleveland [?]
-Food packers
-George Meany
-Pre-notification
-Guidelines
-5.5 percent
-Regulations
-Dunlop’s work
-Fitzsimmons
-Implementation
-Tri-partite negotiations
-Wage czar
-Price czar
-Duration
-Effect on food prices, CPI
-Reaction
-Congress, business
-Connally’s viewpoint
-Duration
-President’s viewpoint
-Role of market forces, weather
-Phase II, Phase III
-Effect on prices
-60 days
-Congressional action
-Timeline
-Alaska pipeline
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-Labor support
-Discipline
-Option 1 compared to Option 2
-Advantages
-Reporting
-Exports
-Food prices
-Mandatory controls
-Phase III
-John Kenneth Galbraith
-Leon Henderson
-President’s assessment
-Gasoline prices
-Role of oil companies, service stations
-Enforcement
-Justice Department
-Possible ceiling
-Possible freeze
-Ceiling
-Food, gasoline, meat, paper products prices
-Political need
-Option 2
-Flexibility for wage and price czar
-Decontrol
-Rents, dividends, interest rates
-Raw agricultural products
-Supplies
-Export Controls
-Licensing program
-Congressional legislation
US interests
-Philippines
-PL 480
-Congressional funding
-Previous contracts [?]
-Southeast Asia, India, Pakistan
-Compared to security
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-Licensing system
-Disruption
-Existing contracts compared to new contracts
-Haig’s viewpoint
-Possible freeze
-Effects
-Duration
-Congressional action
-Effects
-Wages
-August 1971 experience
-Retroactive pay increases
-Duration
-Labor-Management Committee meeting
-Announcements
-Confirmation
-Ronald L. Ziegler
-Compulsory savings stabilization
-Memorandum
-Simon’s view
-Congressional action
-Reactions
-Business community
-Germany, Sweden experiences
-Memorandum
-Burns
-Views
-Tax legislation
-Congressional action
-Public reaction
-Gold Standard
-Valery Gisard D’estaing
-Camp David
-Political acumen
-Approach
-Fiscal and monetary policy
-Money supply, discount rate
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-Dunlop
-Potential for promotion
-Price and wage czar
-Tax package
-Surcharge
-Congress
-House Ways and Means Committee
-Ash
-Wilbur D. Mills
-Tax bill
-Timing
-Trade legislation
-Possible freeze follow-up
-Implementation
-Reaction
-Staff
-Bureaucracy
-Compared to Phase II
-President’s aversion
-Policing
-Internal Revenue Service [IRS]
-Appointed agency
-Staff
-Duration
-1974 elections
-Possible freeze
-Rent interest, dividends
-Duration
-Implementation
-June 1-8 price
-Executive order
-Unprocessed agricultural products
-Food and gasoline prices
-Ceiling
-Export controls
-PL 480
-Licensing system
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-Level
-Agricultural products
-Yield
-Effect of domestic ceiling
-Wages
-Phase III controls
-Rents, dividends, interest
-Business profits
-Wages
-Phase III controls
-Pre-notification
-Follow-up
-Business
-Phase IV
-Comprehensiveness
-Option 1
-Dunlop’s possible role
-Prices, wages czar
-Wages board
-Qualifications
-Experience
-Staff
-Advice from Shultz, Stein
-COLC
-Phase IV
-Institutional structure
-Specialist in wages
-Specialist in prices
-Notoriety
-Compared to Leon Henderson and Galbraith
-Philosophies
-Price czar
-Dunlop’s, President’s reluctance
-Duration
-1974
-Shultz’s recommendation
-Phase II, Phase III
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-Philosophy
-Political as opposed to economic
-Decision making
-Reaction
-Free market
-Phase III
-Failure
-Reasons
-Labor-Management Committee meeting
-Consultation
-President’s attendance
-Presentations
-Stein, Dunlop, Shultz
-Industry
-Labor views
-Shultz’s conversation with I[lorwith] W[ilbur] Abel
-Prices and wages
-Wage settlements
-Controls
-Fitzsimmons’s view
-Food prices
-Bureaucratic controls
-Wages
-George Meany [?]
-5.5 percent guideline
-Stein’s viewpoint
-Moderation
-1974 settlements
-Industrial relations
-Strikes
-Compared to Great Britain
-Labor-Management Committee meeting
-Attendees
-Quadriad members, Dunlop, Connally
-Stein, Dunlop, Shultz, Burns
-Meany, Burns, Ash
-Connally’s assessment
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-Discourse
-Shultz, Stein, Dunlop
-Agenda
-Accomplishments
-Wages, prices
-Strikes
-Meany, Leonard Woodcock, Fitzsimmons
-Congressional relations
-Democratic caucus
-Freeze
-Wages
-Possible freeze
-President’s position
-Food, Gasoline prices
-Industrial commodities
-Duration
-Implementation
-Bureaucracy
-Follow-up
-Duration
-60-day freeze
-Food, gas prices
-Implementation
-Immediate problems
-President’s forthcoming speech
-Timing
-Preparation
-Content
-Effect on stock market, prices
-Another economic meeting
-Editing
-Effects
-Possible Congressional action
-Follow-up
-Compared to Phase III
-Pre-notification
-Effect
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-Phase II, III
-Bureaucracy
-Time frame
-Price increases
-Delays
-Dunlop’s article on World War II controls
-Delays
-Efficiency
-Post World War II era
-Korean War
-Product demands
-President’s schedule
-Forthcoming speech
Haig, Shultz, Connally, Dunlop and Stein left at 12:11 pm.