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On June 2, 1971, President Richard M. Nixon, John B. Connally, Alexander P. Butterfield, Manolo Sanchez, and John D. Ehrlichman met in the Oval Office of the White House from 4:38 pm to 5:42 pm. The Oval Office taping system captured this recording, which is known as Conversation 510-005 of the White House Tapes. Topics include: The President met with John B. Connally and Alexander P. Butterfield at 4:38 pm Connally's schedule - John W. Byrnes Explorers Butterfield left at an unknown time before 5:42 pm Boy Scouts - Connally's experience - President's experience Connally's previous Congressional testimony - John D. Ehrlichman's opinion - Revenue sharing - Members - James C. Corman - Sam M. Gibbons - John C. Watts - Joe D. Waggonner - James A. Burke - United States Postal Service [USPS] Revenue sharing - Wilbur D. Mills - Gerald R. Ford Manolo Sanchez entered at an unknown time after 4:38 pm Refreshments Heroin [Previous PRMPA Privacy (D) reviewed under deed of gift 01/08/2020. Segment cleared for release.] [Privacy] [510-005- W007] [Duration: 5s] Heroin - The President's joke to Manolo Sanchez - John B. Connally's comment Sanchez left at an unknown time before 5:42 pm Heroin - Seizures Eugene T. Rossides - Role with Treasury Department - Assistant Secretary for Enforcement, Tariff and Trade Affairs, and Operations [The President talked with Ehrlichman at an unknown time between 4:38 pm and 5:42 pm] [Conversation No. 510-5A] Forthcoming drug abuse meeting - Attendees - Connally - Rossides - Number - Location [End of telephone conversation] - Melvin R. Laird - Service Secretaries - Joints Chiefs of Staff - John N. Mitchell - Connally's schedule Drugs - Administration's forthcoming actions - Dr. Jerome H. Jaffe - Interdepartmental cooperation - Department of State - Department of Defense - Department of the Treasury - Department of Health, Education and Welfare [HEW] - Employees - Abuse in Vietnam - Turkey - Connally's forthcoming conversation with John N. Irwin, II - William P. Rogers - Possible economic arrangement with United States [The President talked with Ehrlichman at an unknown time between 4:38 pm and 5:32 pm] [Conversation No. 510-5B] - Forthcoming meeting - Henry A. Kissinger - Possible US economic arrangement - State Department - Problems - Possible meetings [End of telephone conversation] - Cost - Seizures of heroin by US agents - Locations - Possible jail sentences for pushers - Recent seizures of heroin - Producers - Effect - Investigation - Awards for Customs agents International economy - Effect on US economy - President's forthcoming press conference - Formation and development of EEC - Kissinger - Future prospects - Britain, Japan, Australia - EEC [Previous National Security (B) withdrawal reviewed under MDR guidelines case number LPRN- T- MDR-2014-027. Segment declassified on 08/09/2019. Archivist : MAS] [National Security] [510-005- W002] [Duration: 21s] International economy - Japan - Dominance in trade during 1970s - Over US - Raw material acquisition International economy - Canada - Mexico, South America - Differences with United States [Previous National Security (B) withdrawal reviewed under MDR guidelines case number LPRN- T- MDR-2014-027. Segment declassified on 08/09/2019. Archivist : MAS] [National Security] [510-005- W008] [Duration: 28s] International economy - Floating deutschmark - John B. Connally's view - Revaluation of Japanese yen - Japanese economic and trade strategy - Automobiles - Domestic and export markets International economy - Japanese exports - Effect of allowing currencies to float - Businessmen - Time before Bretton Woods agreement - Need to improve US trading position - Willy Brandt's forthcoming visit to United States - West German contribution to defense - Maintenance of US worldwide military commitments - Effect of US tourism - Charitable contributions by Americans - US investments abroad - Balance of payments deficits - Canada, Japan, EEC - Agricultural commodities - Jobs - World bank loan to Bolivia - Connally's conversation with Robert Wyrostek [?] - Expropriation of US property - Pipeline to Argentina - Peter G. Peterson, Rogers - Kissinger - Connally's forthcoming lunch with Robert S. Mcnamara June 3 - Expropriation of property - Chile - Salvador Allende - Economic policy National economy - Connally's conversation with Arthur F. Burns - Status of dollar - Status of economy - Inflation - Productivity - Congress's possible actions - Public service jobs bill - Ehrlichman's possible conversation with Connally - Administration's bill - Possible effects on unemployment - Unemployment - Political considerations - Public service jobs bill - Inflation - Wholesale price index - Food - Unemployment, inflation - Burns' views - Inflation - Possible wage- Price freeze International situation - Vietnam - Peace negotiations - US- Union of Soviet Socialist Republics [USSR] relations - Anti- Ballistic Missiles Treaty [ABM] - Effect on Berlin negotiations - US- People's Republic of China [PRC] relations National issues - Possible issue in 1972 election - Long- Range concerns -1968 campaign - Lyndon B. Johnson - Hubert H. Humphrey - Administration's possible actions - Democrats' possible nominee - Edmund S. Muskie - Hubert H. Humphrey - Edward M. ("Ted") Kennedy - Henry M. ("Scoop") Jackson - Wilbur D. Mills - Jackson - Foreign policy - National economy - Permissiveness - Administration's possible actions - George P. Shultz - Ehrlichman - Importance of President's re- Election - Connally's instructions to staff Treasury Department - Government reorganization - Charles E. Walker - Shultz National economy - Possible Wage- Price Board - Effect - Timing - Inflation - Wage and Price freeze - Unemployment - US industry and business - Interest rates - Connally's speech to bankers in Europe - David Rockefeller's reaction - Interest rates - Burns' reaction - Interest rates - Wage and price freeze - Burns - Timing and implementation - Public service jobs bill - Welfare recipients - Connally's upcoming conversation with Ehrlichman - Value- Added tax - Property tax relief - Revenue sharing - Need for reduction - Political effect - Federal income tax credits - Popular reaction toward taxation - Action on President's domestic policy initiatives - Predictions of economists - Need for movement - Pierre Rinfret's position - Indicators - California - Size and importance - Savings - Inventories - Stock market - Issues - Foreign affairs - Kissinger, Rogers - Japan, Chile - Administration's possible actions May Day Demonstrations - Ronald L. Ziegler's briefings - Questions at President's previous press conference President's demeanor in press conferences - Possible response to May Day questions - Public's reaction Cabinet - Connally's reputation - Mitchell - Rogers - Laird - George W. Romney - John A. Volpe - Maurice H. Stans - Elliot L. Richardson - Clifford M. Hardin - Walter J. Hickel President's demeanor during crises - May Day demonstrations - Cambodia - Attacks on enemies Connally's schedule Connally left at 5:42 pm. Participants: Nixon, Richard M. (President); Connally, John B.; Butterfield, Alexander P.; Sanchez, Manolo; Ehrlichman, John D.