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On October 22, 1971, President Richard M. Nixon and members of the Pay Board and Price Commission, including George H. Boldt, Arnold R. Weber, Dr. Neil H. Jacoby, William G. Caples, Kermit Gordon, Rocco C. Siciliano, Virgil B. Day, Robert Bassett, Leonard F. McCollum, Benjamin F. Biaggini, George Meany, I[lorwith] W. Abel, Leonard Woodcock, Floyd E. ("Red") Smith, Frank E. Fitzsimmons, Dr. C. Jackson ("Dan") Grayson, Jr., William W. Scranton, John William Queenan, William T. Coleman, Jr., Marina von Neumann Whitman, J. Wilson Newman, and Robert F. Lanzillotti, met in the Cabinet Room of the White House at an unknown time between 10:38 am and 11:59 pm. The Cabinet Room taping system captured this recording, which is known as Conversation 081-001 of the White House Tapes. Topics include: George H. Boldt met with Arnold R. Weber, Dr. Neil H. Jacoby, William G. Caples, Kermit Gordon, Rocco C. Siciliano, Virgil B. Day, Robert Bassett, Leonard F. McCollum, Benjamin F. Biaggini, George Meany, I[lorwith] W. Abel, Leonard Woodcock, Floyd E. ("Red") Smith, Frank E. Fitzsimmons, Dr. C. Jackson ("Dan") Grayson, Jr., William W. Scranton, John William Queenan, William T. Colman, Jr., Marina von N. Whitman, J. Wilson Newman, and Robert F. Lanzillotti [Recording begins while the conversation is in progress] National economy - Pay Board - Price Commission - Inflation - Price Index - Wage- Price freeze - Weber [Breaks in conversation] The President entered at 10:52 am Greetings National economy - Government regulation - Office of Price Administration [OPA] - Initiation of Pay Board and Price Commission - Voluntary support - Effect of controls - Public support for wage- Price freeze - Controls and sanctions - Success or failure - White House support The President's previous meeting with Republican women - End of Vietnam War - Comparisons - Long- Term peace initiatives -[Thomas] Woodrow Wilson and League of Nations - United Nations [UN] - Importance of United States' relations with Union of Soviet Socialist Republics [USSR] and People's Republic of China [PRC] - Foreign policy - Threat of nuclear war - Challenge of peace - Paavo Nurmi - Running strategy World situation - Germany, Japan - Europe - People's Republic of China [PRC] - Taiwan - Singapore - Hong Kong - USSR - US, Western Europe, Eastern Europe/Union of Soviet Socialist Republics [USSR], People's Republic of China [PRC], China - Latin America, Africa - US government - Competitiveness - Economy National economy - The President's August 15, 1971 speech - High tariffs - Roles of Pay Board and Price Commission The President left at 11:09 pm Conclusion of the meeting [Recording is cut off while the conversation is in progress] Boldt, et al. left at an unknown time before 11:59 pm. Participants: Nixon, Richard M. (President); Pay Board and Price Commission; Boldt, George H.; Weber, Arnold R.; Gordon, Kermit; Siciliano, Rocco C.; Day, Virgil B.; Bassett, Robert; McCollum, Leonard F.; Biaggini, Benjamin F.; Meany, George; Abel, I[lorwith] W.; Woodcock, Leonard; Smith, Floyd E. ("Red"); Smith, Floyd E. ("Red"); Fitzsimmons, Frank E.; Grayson, C. Jackson ("Dan"), Jr. (Dr.); Scranton, William W.; Queenan, John William; Coleman, William T., Jr.; Whitman, Marina von Neumann; Newman, J. Wilson; Lanzillotti, Robert F.