081-1

Date: 
Apr 10, 1963
Participants: 
President John F. Kennedy; John McCone, Central Intelligence Agency Director; Douglas Dillon, Secretary of Treasury; Walter Heller, Council of Economic Advisers; Gardner Ackley, Council of Economic Advisers; Luther Hodges, Secretary of Commerce; John B. Holden, Director of Agriculture Graduate School; Robert Kennedy, Attorney General; Roswell Gilpatric, Deputy Secretary of Defense; Kermit Gordon, Director, Bureau of the Budget; Willard Wirtz, Secretary of Labor; Stanley Ruttenberg, Special Assistant to the Secretary of Labor
Topic/s: 
STEEL WAGES AND PRICES
Listen: 


The summary below was prepared by the archivists at the JFK Library.

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JOHN F. KENNEDY LIBRARY PRESIDENTIAL RECORDING LOG TAPE 81: STEEL WAGES AND PRICES; BALANCE OF PAYMENTS Released 7/2004 4/10/63, 4/11/63, 4/18/63 196 minutes Status: Declassified in Full Description, Steel Wages and Prices, 4/10/63, evening meeting continued: This is a continuation from Tape 80, which was a continuation of the day’s earlier discussions on the possibility of a general steel wage and price increase since certain companies had announced an increase already. Description, Steel Wages and Prices, 4/11/63: According to the President’s Appointment Book, “during the morning, the President met with members of the Staff and others with whom he met on Wednesday re the Steel situation”. Dillon and others relay the conversations that they have had with members of various steel corporations on what steps they are taking and what they hope the response of the President will be. A review of steel industry figures and prices is also done, as well as a continuation of the political and increase timing discussions. The President reads a draft of his proposed statement that he would like to issue “within the next hour” – changes are made before the final version is complete. Description, Balance of Payments issues, 4/18/63: The President and his staff met to discuss the US Balance of Payments outlook and predictions by his economic advisors. Also George Ball’s summarized and defended the State Department’s paper on restricting capital, which is argued against by Dillon and Roosa. Additionally, the possibility of the US drawing on the IMF is also discussed in detail. (Tape does fade in and out at about the half way mark).
Participants Listing: Steel Wages and Prices, 4/10/63, evening meeting: President John F. Kennedy; John McCone, Central Intelligence Agency Director; Douglas Dillon, Secretary of Treasury; Walter Heller, Council of Economic Advisers; Gardner Ackley, Council of Economic Advisers; Luther Hodges, Secretary of Commerce; John B. Holden, Director of Agriculture Graduate School; Robert Kennedy, Attorney General; Roswell Gilpatric, Deputy Secretary of Defense; Kermit Gordon, Director, Bureau of the Budget; Willard Wirtz, Secretary of Labor; Stanley Ruttenberg, Special Assistant to the Secretary of Labor A listing of participants for the 4/11/63 meeting is not available but from the description in the Appointment Book, it seems that many of the participants would be the same from the 4/10 meeting. 113
Balance of Payments issues, 4/18/63: President John F. Kennedy; Douglas Dillon, Secretary of Treasury; George Ball, Under Secretary of State; Robert V. Roosa, Under Secretary of the Treasury for Monetary Affairs, Housing and Home Finance Agency, Chairman; William Martin, Chairman, Federal Reserve System Board of Governors; Walter Heller, Council of Economic Advisers; James Tobin, Council of Economic Advisers; Robert McNamara, Secretary of Defense; Christian Herter, Chief United States Trade Negotiator; Luther Hodges, Secretary of Commerce; Henry H. Fowler, Under Secretary of Treasury, Department of Treasury; John C. Bullitt, Assistant Secretary of the Treasury; Franklin D. Roosevelt, Jr. Under Secretary of Commerce Department of Commerce; Richard H. Holton, Assistant Secretary of Commerce for Economic Affairs; Griffin Johnson, Assistant Secretary for Economic Affairs; David Bell, Director, Agency for International Development; Hollis B. Chenery, Agency for International Development; Kenneth Hansen, Assistant Director of Bureau of the Budget Economic Advisor; Richard Shultz, Foreign Claims Settlement Commission of the United States; Gardner Ackley, Council of Economic Advisers; William T. Gossett, Deputy Special Representative for the Office of the Special Representative for Trade Negotiation
Tape 81 4/10/63, 4/11/63, 4/18/63 196 minutes on 3 cassettes….$18.00
114