001-104

Date: 
Thursday, April 15, 1971 - 7:47pm - 7:48pm
Participants: 
Richard Nixon, John Connally
Location: 
White House Telephone
Listen: 


 

President Nixon: Hello?

Operator: Secretary Connally.

President Nixon: Hi, John?

John B. Connally: Yes, sir, how are you, sir?

President Nixon: I hope I didn't interrupt your dinner.

Connally: No, sir, well I may be restrained in what I say, I'm sitting in Paul Young's Restaurant.

President Nixon: That's a good place, yeah.

Connally: Nellie [Connally] and C.R. Smith.1

President Nixon: I just, well, I just wanted to tell you that, uh, you must be a damn good secretary of treasury, the Dow went to nine thirty-eight today, did you hear that?

Connally: Gosh, did it really?

President: It went up five points to nine thirty-eight.

Connally: Did you see the headlines in the afternoon Star?

President Nixon: I couldn't believe it.

Connally: [Laughs].

President Nixon: Uh, John, tomorrow Bunny Lasker's2 coming down, uh, to present me with a bull, you know, you know, sort of a little medallion or some sort of [unclear] -

Connally: Yes, sir.

President Nixon:—at around 12:15. I thought if you could come over it'd be a nice thing.

Connally: All right, sir.

President Nixon: Are you free?

Connally: Yes, sir. Sure I'll be there.

President Nixon: Yeah.

Connally: 12:15?

President Nixon: Yeah, about 12:15.

Connally: All right, sir.

President Nixon: I think it's a good thing for us to, you know when things are going our way, let's, uh, let's ride it a little and get the confidence -

Connally: Oh, I agree.

President Nixon:—don't you think so?

Connally: I'll say this, it bears on our judgment. Thirty days ago, you recall, we were going to wait until the middle of April and we thought the picture would look better then -

President Nixon: Mmm-hmm.

Connally:—and it sure does. You know I think you have every reason to be extremely proud of where we are.

President Nixon: No, well, you get the credit, you know you came on, everybody got confidence [laughs].

Connally: [Laughs]

President Nixon: Well, tell C.R. not to sell.

Connally: All right, I'll tell him not to sell.

President Nixon: He's pleased though with what the, what Secor Browne3 did, isn't he?

Connally: Well I, we, I haven't even talked to him, but I'm sure he is.

President Nixon: Well, you tell him that wouldn't have happened unless we'd have put the arm on him.

Connally: I couldn't agree more, I know he wouldn't and that was one of the reasons, uh -

President Nixon: Good.

Connally:—we're having dinner, and I'm going to tell him that.

President Nixon: Great, OK.

Connally: All right sir, thank you.

 

1 Nellie Connally was the treasury secretary's wife. Cyrus Rowlett Smith was the former head of American Airlines. (↑)

2 Bernard J. “Bunny” Lasker was head of the New York stock exchange. (↑)

3 Secor D. Browne was chairman of the civil aviation board. (↑)

Original tape courtesy of the Nixon Library. This transcript is a working draft. Please let us know if you find important errors.