Foreign Relations of the United States, 1969–1976, Volume XXXI, Foreign Economic Policy, 1973–1976
International Monetary Policy; Economic Summitry: Document List
Document 1: Editorial Note
Document 2: Letter From the Chairman of the Federal Reserve System Board of Governors (Burns) to President Nixon
Washington, February 1, 1973.
Source: National Archives, Nixon Presidential Materials, White House Special Files, Staff Member & Office Files, President's Personal Files, Box 6, Name/Subject File, Burns, Arthur. No classification marking. A stamped notation on the first page indicates the President saw it. Copies were sent to Shultz and Kissinger.
Document 3: Conversation Among President Nixon, Secretary of the Treasury Shultz, and the Chairman of the Federal Reserve System Board of Governors (Burns)
Washington, February 6, 1973.
Source: National Archives, Nixon Presidential Materials, White House Tapes, Oval Office, Conversation 851–4. No classification marking. According to the President's Daily Diary, Nixon met with Shultz and Burns in the Oval Office from 5:11 to 6:10 p.m. (Ibid., White House Central Files) The editor transcribed the portion of the conversation printed here specifically for this volume.
Document 4: Letter From President Nixon to Japanese Prime Minister Tanaka
Washington, undated.
Source: National Archives, Nixon Presidential Materials, White House Special Files, Staff Member & Office Files, President's Office Files, President's Handwriting, Box 20, Feb 1–15, 1973. Confidential; Limdis.
Document 5: Memorandum of Conversation
Tokyo, April 4, 1969, 9:30 p.m.
Source: National Archives, RG 56, Office of the Under Secretary of the Treasury, Files of Under Secretary Volcker, 1969–1974, Accession 56–79–15, Box 5, Japan (General). Secret; Nodis. Drafted on March 15 by Wickel. A notation at the top of the first page reads: "Uncleared by Undersecretary Volcker." A handwritten notation below this reads: "No." The meeting took place at the Finance Minister's residence.
Document 6: Letter From the West German Chargé d'Affaires Ad Interim in the United States (Noebel) to President Nixon
Washington, February 9, 1973.
Source: National Archives, Nixon Presidential Materials, White House Special Files, Staff Member & Office Files, President's Personal Files, Box 16, Name/Subject File, Volcker, Paul. No classification marking. The original, which is marked "Provisional Translation," has several handwritten revisions which have been incorporated into the text.
Document 7: Notes of a Telephone Conversation Between Secretary of the Treasury Shultz and the Under Secretary of the Treasury for Monetary Affairs (Volcker)
February 10, 1973, 7:30 a.m.
Source: National Archives, RG 56, Office of the Under Secretary of the Treasury, Files of Under Secretary Volcker, 1969–1974, Accession 56–79–15, Box 1, 1973 Devaluation. No classification marking. Shultz, who was in Washington, drafted these notes on his conversation with Volcker, who was in Bonn.
Document 8: Notes of a Telephone Conversation Between Secretary of the Treasury Shultz and the Under Secretary of the Treasury for Monetary Affairs (Volcker)
February 10, 1973, 9:10 a.m.
Source: National Archives, RG 56, Office of the Under Secretary of the Treasury, Files of Under Secretary Volcker, 1969–1974, Accession 56–79–15, Box 1, 1973 Devaluation. No classification marking. Shultz, who was in Washington, drafted these notes on his conversation with Volcker, who was in Bonn.
Document 9: Telegram From the Department of State to the Embassy in the Federal Republic of Germany
Washington, February 10, 1973, 2358Z.
Source: National Archives, Nixon Presidential Materials, NSC Files, Box 754, Presidential Correspondence 1969–1974, Germany Willy Brandt, 1972. Secret; Immediate; Nodis. Drafted by Bennett and Scowcroft and approved by Wright and Eliot (S/S). Drafts of this telegram that are substantively the same as the version that was sent (with the exception of the two instances noted below) were cleared by Shultz, Haldeman, Ehrlich-man, and Burns. (Ibid.) A March 2 note indicates that Brandt's February 9 letter to Nixon "was sent out to HAK by wire on Feb. 9, and never went through the system. Shultz did the reply and it was transmitted by General Scowcroft (LDX to State) on Feb. 10." (Ibid.) Brandt's letter is in Document 6.
Document 10: Notes of a Telephone Conversation Among Secretary of the Treasury Shultz, the Deputy Under Secretary of the Treasury for Monetary Affairs (Bennett), and the Under Secretary of the Treasury for Monetary Affairs (Volcker)
February 11, 1973, 9 a.m.
Source: National Archives, RG 56, Office of the Under Secretary of the Treasury, Files of Under Secretary Volcker, 1969–1974, Accession 56–79–15, Box 1, 1973 Devaluation. No classification marking. Shultz presumably took the notes on the conversation. Volcker was in Paris; Shultz and Bennett were in Washington.
Document 11: Letter From the Japanese Ambassador to the United States (Ushiba) to Secretary of State Rogers
Washington, undated.
Source: National Archives, RG 59, Office Files of William P. Rogers, 1969–1973, Entry 5439, Box 25, WPR–Foreign Economic Policy. No classification marking. The letter is handwritten. Ushiba enclosed the letter in an envelope that he addressed by hand to Rogers and marked "Strictly Confidential." Attached is a note that indicates the letter was delivered on February 12.
Document 12: Editorial Note
Document 13: Note by the Under Secretary of the Treasury for Monetary Affairs (Volcker)
Washington, February 15, 1973.
Source: National Archives, RG 56, Office of the Under Secretary of the Treasury, Files of Under Secretary Volcker, 1969–1974, Accession 56–79–15, Box 1, 1973 Devaluation. Secret; No Distribution. Marked "For File Only."
Document 14: Editorial Note
Document 15: Message From West German Chancellor Brandt to President Nixon
Bonn, March 2, 1973.
Source: National Archives, Nixon Presidential Materials, NSC Files, Kissinger Office Files, Box 53, Country Files, Europe, Monetary Crisis, March 1973. Confidential. Brandt's message was conveyed to President Nixon under cover of a March 2 letter from West German Ambassador Rolf Pauls. (Ibid., Box 62, Country Files, Europe, UK Memcons (originals), January–April 1973)
Document 16: Conversation Among President Nixon, the Chairman of the Federal Reserve System Board of Governors (Burns), the Director of the Office of Management and Budget (Ash), the Chairman of the Council of Economic Advisers (Stein), Secretary of the Treasury Shultz, and the Under Secretary of the Treasury for Monetary Affairs (Volcker)
Washington, March 3, 1973.
Source: National Archives, Nixon Presidential Materials, White House Tapes, Oval Office, Conversation 868–8. No classification marking. According to the President's Daily Diary, Nixon met with Burns, Ash, Stein, Shultz, and Volcker from 10:08 to 11:50 a.m. (Ibid., White House Central Files) The editor transcribed the portion of the conversation printed here specifically for this volume. The transcription is part of a larger conversation, 10:08–11:50 a.m.
Document 17: Conversation Among President Nixon, the President's Assistant for National Security Affairs (Kissinger), and Secretary of the Treasury Shultz
Washington, March 3, 1973.
Source: National Archives, Nixon Presidential Materials, White House Tapes, Oval Office, Conversation 868–15. No classification marking. According to the President's Daily Diary, Nixon met with Kissinger and Shultz from 1:10 to 2:07 p.m. (Ibid., White House Central Files) The editor transcribed the portion of the conversation printed here specifically for this volume.
Document 18: Message From President Nixon to West German Chancellor Brandt
Washington, March 3, 1973.
Source: National Archives, Nixon Presidential Materials, NSC Files, Kissinger Office Files, Box 53, Country Files, Europe, Monetary Crisis, March 1973. Top Secret. Another copy of the message with Nixon's initials indicates that it was sent on an urgent basis via backchannel from Kissinger to Bahr. (Ibid.)
Document 19: Message From President Nixon to British Prime Minister Heath
Washington, March 3, 1973, 2230Z.
Source: National Archives, Nixon Presidential Materials, NSC Files, Kissinger Office Files, Box 53, Country Files, Europe, Monetary Crisis, March 1973. Top Secret; Critic. Sent as White House telegram WH002.
Document 20: Message From President Nixon to Japanese Prime Minister Tanaka
Washington, March 3, 1973.
Source: National Archives, Nixon Presidential Materials, NSC Files, Kissinger Office Files, Box 53, Country Files, Europe, Monetary Crisis, March 1973. Top Secret.
Document 21: Message From Japanese Finance Minister Aichi to President Nixon
Tokyo, March 4, 1973.
Source: National Archives, Nixon Presidential Materials, NSC Files, Kissinger Office Files, Box 53, Country Files, Europe, Monetary Crisis, March 1973. Secret. A type-written notation on the message indicates that it was sent "from Finance Minister Aichi in Absence of Prime Minister Tanaka." Printed from an unsigned copy.
Document 22: Message From British Prime Minister Heath to President Nixon
London, March 4, 1973, 1500Z.
Source: National Archives, RG 56, Records of Secretary of the Treasury George P. Shultz, 1971–1974, Entry 166, Box 6, GPS White House. Top Secret. Scowcroft sent a copy to Shultz under cover of a March 4 memorandum that reads: "Henry has asked Sonnenfeldt to draft a reply, which we will check through you, to go out this evening." This memorandum is stamped "Noted: GPS." (Ibid., Nixon Presidential Materials, NSC Files, Box 1066, Insitutional Materials, May 1974 [7 of 9]) Another copy of the message indicates that it was sent from London on March 4 in a backchannel message at 1500Z. (Ibid., Box 431, Backchannel Files, Backchannel Messages, Hot Line CABOfc London 1972–)
Document 23: Message From President Nixon to British Prime Minister Heath
Washington, March 4, 1973, 2325Z.
Source: National Archives, Nixon Presidential Materials, NSC Files, Kissinger Office Files, Box 53, Country Files, Europe, Monetary Crisis, March 1973. Top Secret; Critic. Sent in telegram PRUS 002.
Document 24: Transcript of a Telephone Conversation Between Secretary of the Treasury Shultz and the President's Assistant for National Security Affairs (Kissinger)
Washington, March 5, 1973, 12:46 p.m.
Source: National Archives, Nixon Presidential Materials, Kissinger Telephone Conversations, Box 19. No classification marking.
Document 25: Transcript of a Telephone Conversation Between West German Minister of Finance Schmidt and the President's Assistant for National Security Affairs (Kissinger)
March 5, 1973, 2:45 p.m.
Source: National Archives, Nixon Presidential Materials, Kissinger Telephone Conversations, Box 19. No classification marking. All blank underscores are omissions in the original. Kissinger was in Washington; Schmidt was in Germany.
Document 26: Conversation Among President Nixon, the President's Assistant for National Security Affairs (Kissinger), and Secretary of the Treasury Shultz
Washington, March 7, 1973.
Source: National Archives, Nixon Presidential Materials, White House Tapes, Oval Office, Conversation 871–5. No classification marking. According to the President's Daily Diary, Nixon met with Kissinger and Shultz from 10:54 to 11:41 a.m. (Ibid., White House Central Files) The editor transcribed the portion of the conversation printed here specifically for this volume.
Document 27: Transcript of a Telephone Conversation Between West German Minister of Finance Schmidt and the President's Assistant for National Security Affairs (Kissinger)
March 7, 1973, 1:41 p.m.
Source: National Archives, Nixon Presidential Materials, Kissinger Telephone Conversations, Box 19. No classification marking. Kissinger was in Washington; Schmidt was in Germany.
Document 28: Memorandum From the Under Secretary of State for Economic Affairs (Casey) to Secretary of the Treasury Shultz
Washington, March 7, 1973.
Source: National Archives, RG 56, Records of Secretary of the Treasury George P. Shultz, 1971–1974, Entry 166, Box 5, GPS State Department 1972/1974. No classification marking.
Document 29: Memorandum From the Chairman of the Council of Economic Advisers (Stein) to Secretary of the Treasury Shultz
Washington, March 7, 1973.
Source: National Archives, RG 56, Records of Secretary of the Treasury George P. Shultz, 1971–1974, Entry 166, Box 3, Council of Economic Advisers 1973. No classification marking.
Document 30: Backchannel Message From the President's Assistant for National Security Affairs (Kissinger) to Secretary of the Treasury Shultz in Paris
Washington, March 10, 1973, 1550Z.
Source: National Archives, Nixon Presidential Materials, NSC Files, Box 953, VIP Visits, George P. Shultz (Europe & USSR), March 8–22, 1973 [& September–October]. Confidential; Immediate; Sensitive; Exclusively Eyes Only; Urgent. The message was sent to Shultz through the Embassy in Paris.
Document 31: Draft Memorandum From President Nixon to the President's Assistant for National Security Affairs (Kissinger)
March 10, 1973.
Source: National Archives, Nixon Presidential Materials, White House Special Files, Staff Member & Office Files, President's Personal Files, Box 4, Memoranda from the President, Memos—March 1973. No classification marking. The memorandum contains minor non-substantive handwritten revisions by the President. President Nixon spent most of March 10 at Camp David, Maryland, returning to Washington that evening. (Ibid., White House Central Files, President's Daily Diary)
Document 32: Backchannel Message From Helmut Sonnenfeldt of the National Security Council Staff to the President's Assistant for National Security Affairs (Kissinger)
Moscow, March 13, 1973, 2145Z.
Source: National Archives, Nixon Presidential Materials, NSC Files, Box 424, Backchannel Files, Backchannel Messages—Europe—1973. Secret; Immediate; Very Urgent. Received at the White House on March 14 at 0113Z.
Document 33: Editorial Note
Document 34: Backchannel Message From Helmut Sonnenfeldt of the National Security Council Staff to the President's Assistant for National Security Affairs (Kissinger)
Paris, March 16, 1973, 1026Z.
Source: National Archives, Nixon Presidential Materials, NSC Files, Box 424, Backchannel Files, Backchannel Messages—Europe—1973. Secret; Immediate; Exclusively Eyes Only.
Document 35: Editorial Note
Document 36: Backchannel Message From Helmut Sonnenfeldt of the National Security Council Staff to the President's Deputy Assistant for National Security Affairs (Scowcroft)
London, March 17, 1973, 2100Z.
Source: National Archives, Nixon Presidential Materials, NSC Files, Box 424, Backchannel Files, Backchannel Messages—Europe—1973. Secret; Immediate.
Document 37: Telegram From the Department of State to the Mission to the European Community
Washington, March 19, 1973, 2106Z.
Source: National Archives, RG 59, Central Foreign Policy Files. Secret; Limdis. Drafted by William Dutton (Bureau of European Affairs, Office of OECD, European Community and Atlantic Political-Economic Affairs) and approved by Dutton and James Nelson (EUR/CE).
Document 38: Memorandum of Conversation
Paris, May 18, 1973, 11 a.m.
Source: National Archives, Nixon Presidential Materials, NSC Files, Kissinger Office Files, Box 56, Country Files, Europe, French Memcons (originals) January–May 1973. Top Secret; Sensitive; Exclusively Eyes Only. The meeting took place in President Pompidou's office at the Elysée Palace. Kissinger was in Paris to discuss the implementation of the January 1973 Paris Peace Accord with DRV representatives. He also met with Egyptian National Security Adviser Hafez Ismail.
Document 39: Memorandum From Secretary of the Treasury Shultz to President Nixon
Washington, undated.
Source: National Archives, Nixon Presidential Materials, NSC Files, Box 949, VIP Visits, Pompidou/Nixon Mtg., Iceland, May–June 1973. No classification marking. The memorandum is included in President Nixon's Iceland meeting briefing book. A notation at the beginning of the briefing book indicates Nixon saw it. Copies of the memorandum were sent to Kissinger and Rogers. Rogers, Flanigan, and Kissinger also wrote briefing memoranda for the President on monetary and trade issues for Nixon's meeting with President Pompidou, but none of them explores these issues in as forceful or concentrated a manner as does Shultz's. (Ibid., Pompidou/Nixon Mtg Iceland PM Johanneson, May 31–June 1973 [1 of 3])
Document 40: Memorandum of Conversation
Reykjavik, May 31, 1973, 10 a.m.
Source: National Archives, RG 56, Office of the Under Secretary of the Treasury, Files of Under Secretary Volcker, 1969–1974, Accession 56–79–15, Box 2, PAV, Iceland May 31, 1973. Confidential. The meeting took place at the Kjarvalsstadir, the Reykjavik Art Museum. A stamped notation on the memorandum reads: "Jun 18 1973." Volcker initialed "Approve as amended" at the end of the memorandum, although no changes are marked.
Document 41: Memorandum of Conversation
Reykjavik, May 31, 1973, 3:10–5:30 p.m.
Source: National Archives, Nixon Presidential Materials, White House Special Files, Staff Member & Office Files, President's Office Files, Box 91, President's Meeting File, Memoranda for the President's File, Beginning May 27 (1973). Top Secret; Sensitive; Exclusively Eyes Only. The meeting took place at the Kjarvalsstadir, the Reykjavik Art Museum.
Document 42: Memorandum of Conversation
Reykjavik, June 1, 1973, noon–12:45 p.m.
Source: National Archives, Nixon Presidential Materials, White House Special Files, Staff Member & Office Files, President's Office Files, Box 91, President's Meeting File, Memoranda for the President's File, Beginning May 27 (1973). Top Secret; Sensitive. The meeting took place at the Kjarvalsstadir, the Reykjavik Art Museum.
Document 43: Letter From French President Pompidou to President Nixon
Paris, June 25, 1973.
Source: National Archives, Nixon Presidential Materials, NSC Files, Box 752, Presidential Correspondence 1969–1974, France Pompidou, 1972. No classification marking. The original is a translation that bears President Pompidou's typed signature.
Document 44: Telegram From the Embassy in the Federal Republic of Germany to the Department of State
Bonn, July 5, 1973, 1515Z.
Source: National Archives, RG 59, Central Foreign Policy Files. Secret; Exdis. Repeated to Helsinki for the Secretary.
Document 45: Telegram From the Embassy in France to the Department of State
Paris, July 9, 1973, 1740Z.
Source: National Archives, RG 59, Central Foreign Policy Files. Confidential; Exdis. Repeated to Bonn, Brussels, Copenhagen, Dublin, London, Luxembourg, Moscow, Rome, The Hague, USNATO, USEC Brussels, and the Consulates in Bordeaux, Lyon, Marseille, Martinique, Nice, and Strasbourg.
Document 46: Memorandum From Charles Cooper of the National Security Council Staff to the President's Assistant for National Security Affairs (Kissinger)
Washington, July 11, 1973.
Source: National Archives, Nixon Presidential Materials, NSC Files, Box 290, Agency Files, U.S. Treasury, Vol. III, Jan. 1972–Sept. 18, 1973. Confidential.
Document 47: Memorandum From Charles Cooper and Helmut Sonnenfeldt of the National Security Council Staff to the President's Assistant for National Security Affairs (Kissinger)
Washington, July 26, 1973.
Source: National Archives, Nixon Presidential Materials, NSC Files, Box 752, Presidential Correspondence 1969–1974, France Pompidou, 1972. Secret; Sensitive. Sent for action. Neither Cooper nor Sonnenfeldt initialed the memorandum. A notation on the memorandum indicates that it was returned to Cooper and Sonnenfeldt "re Hak's comments." The tabs are attached but not printed.
Document 48: Telegram From the Embassy in France to the Department of State
Paris, July 27, 1973, 1906Z.
Source: National Archives, RG 59, Central Foreign Policy Files. Confidential; Immediate. Repeated to Bonn, Brussels, London, Rome, The Hague, USEC Brussels, and USOECD Paris.
Document 49: Memorandum From Charles Cooper and Robert Hormats of the National Security Council Staff to the President's Assistant for National Security Affairs (Kissinger)
Washington, July 30, 1973.
Source: National Archives, Nixon Presidential Materials, NSC Files, Kissinger Office Files, Box 55, Country Files, Europe, Meeting with French Finance Minister Giscard d'Estaing, July 31, 1973. Secret. Sent for information. Neither Cooper nor Hormats initialed the memorandum, which was included as Tab C in a July 30 briefing memorandum from Sonnenfeldt to Kissinger for Kissinger's July 31 meeting with Giscard.
Document 50: Memorandum From the President's Assistant for National Security Affairs (Kissinger) to President Nixon
Washington, August 7, 1973.
Source: National Archives, Nixon Presidential Materials, NSC Files, Box 752, Presidential Correspondence 1969–1974, France Pompidou, 1972. Secret. Sent for action. A stamped notation on the first page indicates the President saw it.
Document 51: Letter From President Nixon to French President Pompidou
Washington, undated.
Source: National Archives, Nixon Presidential Materials, NSC Files, Box 752, Presidential Correspondence 1969–1974, France Pompidou, 1972. No classification marking.
Document 52: Transcript of a Telephone Conversation Between Secretary of the Treasury Shultz and the President's Assistant for National Security Affairs (Kissinger)
August 15, 1973, 10:30 a.m.
Source: National Archives, Nixon Presidential Materials, Kissinger Telephone Conversations, Box 21. No classification marking. Kissinger was in Washington; Shultz's location could not be determined.
Document 53: Memorandum From Secretary of the Treasury Shultz to President Nixon
Nairobi, undated.
Source: National Archives, RG 56, Office of the Under Secretary of the Treasury, Files of Under Secretary Volcker, 1969–1974, Accession 56–79–15, Box 3, International Financial Institutions. Secret; Exdis. The memorandum was transmitted in a telegraphed message received in the White House Situation Room on October 18. A stamped notation on the memorandum reads: "Noted by Mr. Volcker."
Document 54: Memorandum From Secretary of the Treasury Shultz to President Nixon
Washington, undated.
Source: National Archives, RG 56, Records of Secretary of the Treasury George P. Shultz, 1971–1974, Entry 166, Box 6, Gold Sales Ongoing 1973. Secret. Sent under cover of an October 29 memorandum from Shultz to Nixon that reads: "This memo brings you up to date on the question of sales of gold and proposes that we again take part in seeking an agreement along the lines you approved last spring."
Document 55: Memorandum From John Reynolds of the Federal Reserve System Board of Governors Staff to the Chairman of the Federal Reserve System Board of Governors (Burns)
Washington, November 1, 1973.
Source: Ford Library, Arthur Burns Papers, Federal Reserve Board Subject Files, Box B52, Gold–BIS Meeting, Nov. 1973. Confidential (FR).
Document 56: Editorial Note
Document 57: Memorandum From Secretary of the Treasury Shultz to President Nixon
Washington, November 26, 1973.
Source: National Archives, Nixon Presidential Materials, NSC Files, Box 290, Agency Files, U.S. Treasury, Vol. IV, Sept. 19, 1973–Dec. 1973. Confidential.
Document 58: Memorandum From the Director of the Planning and Coordination Staff (Lord) to Secretary of State Kissinger
Washington, December 10, 1973.
Source: National Archives, RG 59, Policy Planning Council, Policy Planning Staff, Director's Files (Winston Lord), 1969–77, Entry 5027, Box 346, Dec. 1973. Confidential. Kissinger wrote at the top of the memorandum: "Win—Interesting. See me."
Document 59: Memorandum for the President's File
Washington, January 21, 1974.
Source: National Archives, Nixon Presidential Materials, White House Special Files, Staff Member & Office Files, President's Office Files, Box 93, President's Meeting File, Memoranda for the President's File, Beginning Jan 20 (1974). No classification marking.
Document 60: Paper Prepared in the Department of the Treasury
Washington, March 5, 1974.
Source: National Archives, RG 56, Office of the Under Secretary of the Treasury, Files of Under Secretary Volcker, 1969–1974, Accession 56–79–15, Box 1, Gold—8/15/71–2/9/72. Confidential. A stamped notation on the paper reads: "Noted by Mr. Volcker." There is no indication as to who prepared the paper. Attached to another copy, however, is an undated note from Bennett to Bryant that reads: "Any reaction? I plan to show this to the Secretary and Paul." (Ford Library, Arthur Burns Papers, Federal Reserve Board Subject Files, Box B52, Gold, Mar.–Apr. 1974)
Document 61: Note From the Deputy Assistant Secretary of State for International Finance and Development (Weintraub) to the Under Secretary of the Treasury for Monetary Affairs (Volcker)
Washington, March 6, 1974.
Source: National Archives, RG 56, Office of the Under Secretary of the Treasury, Files of Under Secretary Volcker, 1969–1974, Accession 56–79–15, Box 1, Gold—8/15/71–2/9/72. No classification marking. A stamped notation on the note reads: "Noted by Mr. Volcker." Another notation, dated March 8, indicates that copies were sent to Bennett and Cross.
Document 62: Paper Prepared in the Federal Reserve Board
Washington, March 15, 1974.
Source: National Archives, RG 56, Office of the Under Secretary of the Treasury, Files of Under Secretary Volcker, 1969–1974, Accession 56–79–15, Box 2, OECD. Strictly Confidential (FR). Attached is an April 24 note from Bryant to Volcker that reads: "This is the note on gold to which I referred in our conversation in Tokyo. If something has to be done on the subject, then the attached method of "mobilization" may be less unpalatable than most, or all, alternatives."
Document 63: Minutes of Secretary of State Kissinger's Principals and Regionals Staff Meeting
Washington, April 25, 1974, 3:13–4:16 p.m.
Source: National Archives, RG 59, Transcripts of Secretary of State Kissinger's Staff Meetings, 1973–1977, Entry 5177, Box 3, Secretary's Staff Meeting, April 25, 1974. Secret. According to an attached list, the following people attended the meeting: Kissinger, Rush, Sisco, Ingersoll, Hartman, Maw, Ambassador at Large Robert Mc-Closkey, Assistant Secretary of State for African Affairs Donald Easum, Hyland, Atherton, Lord, Policy Planning Staff member Paul Boeker, Eagleburger, Springsteen, Special Assistant to the Secretary of State for Press Relations Robert Anderson, Enders, Assistant Secretary of State for Inter-American Affairs Jack Kubisch, and Sonnenfeldt.
Document 64: Memorandum From the Under Secretary of the Treasury (Bennett) to Secretary of the Treasury Simon
Washington, May 9, 1974.
Source: National Archives, RG 56, Office of the Under Secretary of the Treasury, Files of Under Secretary Volcker, 1969–1974, Accession 56–79–15, Box 5, The Netherlands (General). Limited Official Use. A copy was sent to Volcker. A handwritten notation on the memorandum reads: "MON. 5/13 12 Noon for 12:30 PM Luncheon Meeting." No record of this meeting has been found. Telegram 100622 to USEC Brussels, May 15, contains the text of a statement given to the press on the meeting. (Ibid., RG 59, Central Foreign Policy Files) The May 14 New York Times also contains a report of the meeting.
Document 65: Letter From Secretary of the Treasury Simon to the Chairman of the Federal Reserve System Board of Governors (Burns)
Washington, undated.
Source: Ford Library, Arthur Burns Papers, Federal Reserve Board Subject Files, Box B52, Gold, May 1974. Confidential. In a May 30 memorandum to Burns, Wallich noted: "Jack Bennett tells me that he is drafting a letter from Simon addressed to you," and offered his comments on the issues he expected Simon to raise. (Ibid.)
Document 66: Memorandum by Secretary of the Treasury Simon
Washington, June 1, 1974.
Source: National Archives, Nixon Presidential Materials, White House Central Files, Staff Member & Office Files, Council of Economic Advisers, Herbert Stein, Box 105, Meetings Files, International Monetary System, May–June 1974. Confidential.
Document 67: Memorandum by the Chairman of the Council of Economic Advisers (Stein)
Washingon, June 3, 1974.
Source: National Archives, Nixon Presidential Materials, White House Central Files, Staff Member & Office Files, Council of Economic Advisers, Herbert Stein, Box 105, Meetings Files, International Monetary System, May–June 1974. Confidential.
Document 68: Memorandum From the President's Counselor for Economic Policy (Rush) to President Nixon
Washington, June 4, 1974.
Source: National Archives, Nixon Presidential Materials, White House Special Files, Staff Member & Office Files, President's Office Files, President's Handwriting, Box 27, June 1974. Confidential. A stamped notation on the memorandum indicates Nixon saw it.
Document 69: Editorial Note
Document 70: Memorandum by the Under Secretary of the Treasury for Monetary Affairs (Bennett)
Washington, August 5, 1974.
Source: Ford Library, Arthur Burns Papers, Federal Reserve Board Subject Files, Box B52, Gold, June–Aug. 1974. Confidential.
Document 71: Memorandum From the Chairman of the Council of Economic Advisers (Stein) to the Under Secretary of the Treasury for Monetary Affairs (Bennett)
Washington, August 6, 1974.
Source: National Archives, Nixon Presidential Materials, White House Central Files, Staff Member & Office Files, Council of Economic Advisers, Herbert Stein, Box 106, Meetings Files, Meeting on Gold, Secy. Simon's Office, 8–12–74. Confidential.
Document 72: Letter From the Chairman of the Federal Reserve System Board of Governors (Burns) to Secretary of the Treasury Simon
Washington, August 9, 1974.
Source: Ford Library, Arthur Burns Papers, Federal Reserve Board Subject Files, Box B52, Gold, June–Aug. 1974. No classification marking. Drafted by Bryant and approved by Wallich.
Document 73: Letter From Secretary of the Treasury Simon to the Chairman of the Federal Reserve System Board of Governors (Burns)
Washington, August 22, 1974.
Source: Ford Library, Arthur Burns Papers, Federal Reserve Board Subject Files, Box B52, Gold, June–Aug. 1974. Confidential.
Document 74: Editorial Note
Document 75: Letter From the Chairman of the Federal Reserve System Board of Governors (Burns) to Secretary of the Treasury Simon
Washington, September 3, 1974.
Source: Ford Library, Arthur Burns Papers, Federal Reserve Board Subject Files, Box B52, Gold, Sept.–Dec. 1974. Personal and Confidential.
Document 76: Letter From the Chairman of the Federal Reserve System Board of Governors (Burns) to Secretary of the Treasury Simon
Washington, November 13, 1974.
Source: Ford Library, Arthur Burns Papers, Federal Reserve Board Subject Files, Box B52, Gold, Sept.–Dec. 1974. Personal and Confidential. Drafted by Bryant.
Document 77: Memorandum From Secretary of the Treasury Simon to President Ford
Washington, November 18, 1974.
Source: Ford Library, President's Handwriting File, Subject File, Box 19, Finance—Gold. Official Use Only. According to the minutes of its November 21 meeting, the Economic Policy Board Executive Committee approved Simon's memorandum to the President. In attendance at the EPB meeting were Simon, Seidman, Greenspan, Ash, Eberle, Butz, Cole, Ingersoll, Seevers, Yeutter, Katz, Richard Bell of the Department of Agriculture, and Howard Worthington of the Department of the Treasury. (Ibid., U.S. Council of Economic Advisers Records, Alan Greenspan Files, Box 57, Economic Policy Board Meetings, EPB—Nov 1974)
Document 78: Memorandum From Secretary of the Treasury Simon to President Ford
Washington, undated.
Source: Ford Library, National Security Adviser, Trip Briefing Books and Cables for President Ford, Box 6, 12/14–16/74—Martinique General (5). Confidential; Nodis. An attached December 13 memorandum from Hormats to Kissinger refers to a memorandum from Simon on gold, and a notation on Hormats's memorandum indicates Ford saw it. The attached NSC correspondence profile, which lists as its subject "Treasury input re discussion of gold issue at Martinique summit," indicates that it was noted by the President.
Document 79: Memorandum From Henry Wallich, Member of the Federal Reserve System Board of Governors, to the Chairman of the Federal Reserve System Board of Governors (Burns)
Washington, December 13, 1974.
Source: Ford Library, Arthur Burns Papers, Federal Reserve Board Subject Files, Box B52, Gold, Sept.–Dec. 1974. No classification marking.
Document 80: Memorandum of Conversation
Martinique, December 15, 1974, 4:30–6:30 p.m.
Source: Ford Library, National Security Adviser, Memoranda of Conversations, Box 8. Secret; Sensitive. The conversation took place at the Hotel Meridien. All brackets, except those that indicate an omission, are in the original.
Document 81: Memorandum From Edwin Truman of the Federal Reserve System Board of Governors Staff to the Chairman of the Federal Reserve System Board of Governors (Burns)
Washington, December 18, 1974.
Source: Ford Library, Arthur Burns Papers, Federal Reserve Board Subject Files, Box B52, Gold, Sept.–Dec. 1974. No classification marking. Copies were sent to Wallich, Solomon, and Bryant.
Document 82: Message From British Prime Minster Wilson to President Ford
London, undated.
Source: Ford Library, National Security Adviser, Kissinger–Scowcroft West Wing Office Files, Box 24, United Kingdom (18) (9/11/74–12/31/74). No classification marking. Forwarded under cover of a December 30 letter from British Ambassador Rams-botham to President Ford. Kissinger subsequently forwarded both documents to the President under cover of a December 31 memorandum. (Ibid.)
Document 83: Memorandum From Secretary of the Treasury Simon to President Ford
Washington, January 18, 1975.
Source: Ford Library, L. William Seidman Papers, Box 206, Name Files, Simon, Wm., 1/18–31/75. No classification marking. Initialed by Seidman.
Document 84: Memorandum From Henry Wallich, Member of the Federal Reserve System Board of Governors, to the Chairman of the Federal Reserve System Board of Governors (Burns)
Washington, May 2, 1975.
Source: Ford Library, Arthur Burns Papers, Federal Reserve Board Subject Files, Box B52, Gold, Jan.–May 1975. No classification marking. Copies were sent to Bryant and Solomon.
Document 85: Paper Prepared in the Department of the Treasury
Washington, May 19, 1975.
Source: Ford Library, Arthur Burns Papers, Federal Reserve Board Subject Files, Box B52, Gold, Jan.–May 1975. No classification marking. Attached to a May 20 note from Truman to Burns that reads: "Attached is a statement on gold that Jack Bennett said that he had distributed for discussion at the G–10 Deputies' meeting last week in Paris. Mr. Bennett reported to the International Monetary Group that this statement represented 'his personal understanding of the position of the United States.'"
Document 86: Memorandum From the Chairman of the Federal Reserve System Board of Governors (Burns) to President Ford
Washington, June 3, 1975.
Source: Ford Library, William Simon Papers, Drawer 23, Folder 2, Gold, 1974 (Nov)–1975. Strictly Confidential (FR). Copies were sent to Simon, Kissinger, Greenspan, Lynn, and Seidman.
Document 87: Memorandum From Secretary of the Treasury Simon to President Ford
Washington, June 3, 1975.
Source: Ford Library, U.S. Council of Economic Advisers Records, Alan Greenspan Files, Box 1, L. William Seidman II. Confidential. Copies were sent to Kissinger, Greenspan, Lynn, and Seidman.
Document 88: Memorandum From the Assistant Secretary of State for Economic and Business Affairs (Enders) to the President's Assistant for Economic Affairs (Seidman)
Washington, June 4, 1975.
Source: Ford Library, L. William Seidman Papers, Box 69, Economic Policy Board Subject File, Gold. Confidential. Attached to an undated note from Nuel Pazdral, Enders's Special Assistant, to Seidman that reads: "Mr. Enders asked that the attached memo be transmitted to you now, with the note that it has not yet been approved by Secretary Kissinger." Also attached is a June 5 note from Seidman to President Ford that reads: "Attached is a memorandum from Tom Enders on the gold issue which reached my office after the briefing paper was submitted yesterday." The briefing paper to which Seidman referred was his June 4 memorandum to the President summarizing Documents 86 and 87 and requesting a Presidential decision. The President did not indicate his decision on the June 4 memorandum from Seidman. (Ibid., William Simon Papers, Drawer 23, Folder 2, Gold, 1974 (Nov)–1975)
Document 89: Letter From President Ford to West German Chancellor Schmidt
Washington, June 6, 1975.
Source: Ford Library, National Security Adviser, Kissinger–Scowcroft West Wing Office Files, Box 36, West Germany—Egon Bahr Correspondence, Unindexed (5) (4/28/75–7/3/75). No classification marking. Attached to a June 5 memorandum from Seidman to the President that reads: "The attached letter represents the agreed upon position of the Federal Reserve Board, the Treasury Department and the State Department with respect to the gold position presented to you yesterday. It is their recommendation along with that of Alan Greenspan that it be signed and sent out today." A meeting on gold took place in the Cabinet Room on June 5 from 12:42 to 1:30 p.m. In attendance were President Ford, Simon, Kissinger, Seidman, Burns, Scowcroft, Hormats, Porter, Lynn, Director of the Presidential Personnel Office Douglas Bennett, and Counselor John O. Marsh, Jr. (Ibid., President's Daily Diary) No other record of this meeting has been found.
Document 90: Memorandum From the President's Assistant for Economic Affairs (Seidman) to President Ford
Washington, June 10, 1975.
Source: Ford Library, President's Handwriting File, Subject File, Box 19, Finance—Gold. No classification marking. A stamped notation on the memorandum indicates that Ford saw it.
Document 91: Telegram From the Embassy in France to the Department of State
Paris, June 25, 1975, 1147Z.
Source: National Archives, RG 59, Central Foreign Policy Files. Secret; Cherokee; Nodis. The Cherokee channel was a channel for the exchange of eyes only messages between the Secretary and an Ambassador.
Document 92: Editorial Note
Document 93: Memorandum From Secretary of the Treasury Simon to President Ford
Washington, July 26, 1975.
Source: Ford Library, William Simon Papers, Drawer 25, Folder 9, Pres—Memos to & from W.E.S., 1975 (May–Aug). No classification marking. Attached to a July 24 memorandum from Department of the Treasury staff member F. Lisle Widman to Simon that reads: "There are reports in the press that Giscard d'Estaing may approach President Ford directly with his proposal for a heads of state conference while the two are in Helsinki next week. There may be no foundation whatsoever to these reports, but you may, nevertheless, wish to alert the President to the possibility of an approach. He certainly needs to be fully aware of the issue. There is attached a memorandum which could be used for this purpose should you desire to do so. I have discussed this proposal by telephone with Chuck Cooper who agrees that the President should be advised of this situation either orally or by memorandum." President Ford was in Helsinki July 29–August 2 to attend the Conference on Security and Cooperation in Europe.
Document 94: Memorandum of Conversation
Bonn, July 27, 1975, 9:50–10:45 a.m.
Source: Ford Library, National Security Adviser, Memoranda of Conversation, Box 14. Secret; Nodis. The meeting took place in the Chancellery. President Ford visited the Federal Republic of Germany from July 26 to 28, at the start of a 9-day tour of Central and Eastern Europe. This memorandum of conversation is scheduled to be published in full in Foreign Relations, 1969–1976, volume E–15, part 2, Documents on Western Europe, 1973–1976.
Document 95: Memorandum by West German Chancellor Schmidt
Bonn, undated.
Source: Ford Library, National Security Adviser, Memoranda of Conversation, Box 14. No classification marking. Attached to the July 27 memorandum of conversation cited in footnote 8, Document 94. According to the July 27 memorandum, "Later in Helsinki, Chancellor Schmidt gave us a memorandum which is attached on 'International Concentration of Economic Action.'"
Document 96: Editorial Note
Document 97: Memorandum From the Chairman of the Federal Reserve System Board of Governors (Burns) to President Ford
Washington, August 28, 1975.
Source: Ford Library, President's Handwriting File, Subject File, Box 19, Finance—Gold. No classification marking. Attached is a covering note indicating that this memorandum and several other attached memoranda were for a meeting on economic and energy issues held on August 29 at 11 a.m. A stamped notation on the covering note indicates the President saw it. Regarding the meeting, see footnote 2, Document 99.
Document 98: Memorandum From Secretary of the Treasury Simon to President Ford
Washington, August 28, 1975.
Source: Ford Library, President's Handwriting File, Subject File, Box 19, Finance—Gold. No classification marking. Sent under cover of an August 28 summary memorandum from Simon to Ford. A stamped notation on the summary memorandum indicates the President saw it. Attached is a covering note indicating that this memorandum and several other attached memoranda were for a meeting on economic and energy issues scheduled for August 29 at 11 a.m. A stamped notation on the covering note indicates the President also saw it. See footnote 3, Document 99.
Document 99: Memorandum From the Executive Secretary of the Economic Policy Board (Porter) to President Ford
Washington, August 29, 1975.
Source: Ford Library, President's Handwriting File, Subject File, Box 19, Finance—Gold. No classification marking. Attached to an August 29 covering memorandum from Connor to President Ford that reads: "Roger Porter sent this in per your request."
Document 100: Memorandum From the President's Deputy Assistant for National Security Affairs (Scowcroft) to President Ford
Washington, August 30, 1975.
Source: Ford Library, National Security Adviser, Presidential Subject File, Box 8, Gold. No classification marking. Brackets are in the original.
Document 101: Editorial Note
Document 102: Memorandum of Conversation
Washington, September 17, 1975, 3:21–3:42 p.m.
Source: Ford Library, National Security Adviser, Memoranda of Conversation, Box 15. Secret; Nodis. The meeting took place in the Oval Office.
Document 103: Editorial Note
Document 104: Memorandum From the Counselor of the Department of State (Sonnenfeldt) to Secretary of State Kissinger
Washington, October 8, 1975.
Source: Library of Congress, Manuscript Division, Kissinger Papers, Box CL 419, Subject File, Economic Summit Meetings, 1975, Nov. (Rambouillet, France), Chronological File, 8 Oct.–1 Nov. 1975. Secret; Sensitive. Tabs A–C are attached but not printed.
Document 105: Message From President Ford to French President Giscard
Washington, October 9, 1975, 2244Z.
Source: Ford Library, National Security Adviser, Kissinger–Scowcroft West Wing Office Files, Box 12, France—General (3) (10/5/75–11/3/75). Secret; Immediate. On October 9, Kissinger reported to President Ford: "On the economic summit, the French are still trying to exclude Canada. All the others agree." The President asked whether he could send President Giscard a message, to which Kissinger responded: "That's a good thing to do. I think he'll concede, but even if he doesn't, we will be in good shape with the Canadians. We could tell Schmidt you are doing so and ask his support." President Ford replied: "Fine. Let's do it. We definitely should have Canada." (Ibid., Memoranda of Conversation, Box 15)
Document 106: Message From President Ford to West German Chancellor Schmidt
Washington, October 10, 1975, 2225Z.
Source: Ford Library, National Security Adviser, Kissinger–Scowcroft West Wing Office Files, Box 12, France—General (3) (10/5/75–11/3/75). Secret; Immediate.
Document 107: Telegram From the Embassy in France to the Department of State
Paris, October 12, 1975, 1735Z.
Source: National Archives, RG 59, Central Foreign Policy Files. Secret; Cherokee; Nodis.
Document 108: Memorandum From the President's Deputy Assistant for National Security Affairs (Scowcroft) to President Ford
Washington, October 13, 1975.
Source: Ford Library, National Security Adviser, Presidential Subject File, Box 8, Gold. Secret. Sent for information. A stamped notation indicates the President saw the memorandum, which he initialed.
Document 109: Telegram From the Embassy in the United Kingdom to the Department of State
London, October 14, 1975, 1534Z.
Source: National Archives, RG 59, Central Foreign Policy Files. Confidential; Cherokee; Nodis.
Document 110: Message From President Ford to French President Giscard
Washington, October 20, 1975, 2157Z.
Source: Ford Library, National Security Adviser, Kissinger–Scowcroft West Wing Office Files, Box 12, France—General (3) (10/5/75–11/3/75). Secret; Immediate.
Document 111: Message From President Ford to British Prime Minister Wilson
Washington, October 20, 1975, 2201Z.
Source: Ford Library, National Security Adviser, Kissinger–Scowcroft West Wing Office Files, Box 24, United Kingdom (20) (3/3/75–11/18/75). Secret; Immediate.
Document 112: Memorandum From Robert Hormats of the National Security Council Staff to Secretary of State Kissinger
Washington, October 24, 1975.
Source: Ford Library, National Security Adviser, NSC International Economic Affairs Staff Files, Box 4, Presidential Subject File, Economic Summits—Rambouillet (3). Secret. Sent for information. A longer summit strategy paper, prepared by Hartman, Hormats, and the Policy Planning Staff, was sent in telegram Tosec 160270/251836 to Kissinger, October 23. (National Archives, RG 59, Central Foreign Policy Files)
Document 113: Message From President Ford to French President Giscard
Washington, November 3, 1975, 0225Z.
Source: Ford Library, National Security Adviser, Kissinger–Scowcroft West Wing Office Files, Box 12, France—General (3) (10/5/75–11/3/75). Top Secret; Priority. Although sent on November 3, the response is dated November 1.
Document 114: Memorandum of Conversation
Washington, November 6, 1975.
Source: Ford Library, National Security Adviser, NSC International Economic Affairs Staff Files, Box 4, Presidential Subject File, Economic Summits—Rambouillet (4). Confidential; Nodis. Drafted on November 18 by Deputy Assistant Secretary of State for International Finance and Development Paul Boeker and approved in S on December 11. The meeting took place in the Secretary of State's conference room. This planning meeting for the economic summit, as well as a subsequent one that took place on November 11 (see Document 116), were initiated by Kissinger and Simon at an October 13 meeting; see Document 235.
Document 115: Telegram From the Department of State to the Embassy in Canada
Washington, November 8, 1975, 2149Z.
Source: National Archives, RG 59, Central Foreign Policy Files. Secret; Immediate; Exdis. Drafted by Sonnenfeldt; cleared by Hartman and Scowcroft and in S/S–O; and approved by Kissinger.
Document 116: Memorandum of Conversation
Washington, November 11, 1975, 8 a.m.
Source: Ford Library, National Security Adviser, NSC International Economic Affairs Staff Files, Box 4, Presidential Subject File, Economic Summits—Rambouillet (4). Confidential; Nodis. Drafted on November 20 by Boeker and approved in S on December 11. The meeting took place in the Secretary of State's conference room.
Document 117: Telegram From the Department of State to the Embassies in Japan, Italy, the United Kingdom, and the Federal Republic of Germany
Washington, November 11, 1975, 2147Z.
Source: National Archives, RG 59, Central Foreign Policy Files. Confidential; Flash; Exdis. Drafted by Enders; cleared by Sonnenfeldt, Parsky, Deputy Executive Secretary Frank Ortiz, the Secretary of State's Special Assistant Paul Barbian, and Scowcroft; and approved by Kissinger. Telegram 267048 to Paris, November 11, forwarded a similar letter for transmission to French President Giscard. (Ibid.) Substantive differences between the two texts are noted below.
Document 118: Memorandum From the Counselor of the Department of State (Sonnenfeldt) to Secretary of State Kissinger
Washington, November 12, 1975.
Source: Library of Congress, Manuscript Division, Kissinger Papers, Box CL 419, Subject File, Economic Summit Meetings, 1975, Nov. (Rambouillet, France), Chronological File, 12–13 Nov. 1975. Confidential; Eyes Only.
Document 119: Telegram From the Embassy in the United Kingdom to the Department of State
London, November 12, 1975, 2100Z.
Source: National Archives, RG 59, Central Foreign Policy Files. Secret; Flash; Nodis.
Document 120: Telegram From the Embassy in the United Kingdom to the Department of State
London, November 12, 1975, 2135Z.
Source: National Archives, RG 59, Central Foreign Policy Files. Secret; Flash; Nodis.
Document 121: Memorandum From Secretary of State Kissinger, Secretary of the Treasury Simon, the President's Assistant for National Security Affairs (Scowcroft), and the President's Assistant for Economic Affairs (Seidman) to President Ford
Washington, November 12, 1975.
Source: Ford Library, President's Handwriting File, Subject File, Box 49, Trips—Foreign—Economic Summit—1975 (1). No classification marking. A stamped notation on the memorandum indicates the President saw it.
Document 122: Memorandum of Conversation
Rambouillet, France, November 15, 1975.
Source: Ford Library, L. William Seidman Papers, Box 312, Foreign Trips File, International Economic Summit, Nov. 15–17, 1975—Memoranda of Conversations and Notes on Discussions. Secret; Nodis. The meeting took place in the Chateau de Rambouillet, approximately 30 miles southwest of Paris. (Ibid., President's Daily Diary). This memorandum of conversation covers the summit's first session. The second session is Document 123; the third session is Document 124; and the fourth session is Document 125.
Document 123: Memorandum of Conversation
Rambouillet, France, November 16, 1975, 10:45 a.m.
Source: Ford Library, L. William Seidman Papers, Box 312, Foreign Trips File, International Economic Summit, Nov. 15–17, 1975—Memoranda of Conversations and Notes on Discussions. Secret; Nodis. The meeting took place in the Chateau de Rambouillet, approximately 30 miles southwest of Paris. (Ibid., President's Daily Diary). This memorandum of conversation covers the summit's second session. For a list of participants, see Document 122.
Document 124: Memorandum of Conversation
Rambouillet, France, November 16, 1975, 4 p.m.
Source: Ford Library, L. William Seidman Papers, Box 312, Foreign Trips File, International Economic Summit, Nov. 15–17, 1975—Memoranda of Conversations and Notes on Discussions. Secret; Nodis. The meeting took place in the Chateau de Rambouillet, approximately 30 miles southwest of Paris. (Ibid., President's Daily Diary) This memorandum of conversation covers the summit's third session. For a list of participants, see Document 122.
Document 125: Memorandum of Conversation
Rambouillet, France, November 17, 1975, 10 a.m.
Source: Ford Library, L. William Seidman Papers, Box 312, Foreign Trips File, International Economic Summit, Nov. 15–17, 1975—Memoranda of Conversations and Notes on Discussions. Secret; Nodis. The meeting took place in the Chateau de Rambouillet, approximately 30 miles southwest of Paris. (Ibid., President's Daily Diary) This memorandum of conversation covers the summit's fourth session. For a list of participants, see Document 122.
Document 126: Notes on an International Monetary Group Meeting
Washington, December 5, 1975.
Source: Ford Library, Arthur Burns Papers, Federal Reserve Board Subject Files, Box B63, International Finance—General 1975 (1). Strictly Confidential (FR). Drafted by Truman on December 8. Attached to an undated note from Truman to Burns that reads: "You might be interested in the attached notes on the International Monetary Group meeting Governor Wallich, Mr. Solomon and I attended on December 5. You might also be interested in knowing that Treasury is sending the complete French/American memorandum of understanding to Representative Reuss today; Yeo will see him about it Tuesday."
Document 127: Memorandum From Edwin Truman of the Federal Reserve System Board of Governors Staff to the Chairman of the Federal Reserve System Board of Governors (Burns)
Washington, December 8, 1975.
Source: Ford Library, Arthur Burns Papers, Federal Reserve Board Subject Files, Box B63, International Finance—General 1975 (1). Strictly Confidential (FR). Copies were sent to Wallich and Solomon. Attached to a December 8 note from Truman to Burns that reads: "Attached is a memorandum summarizing my understanding of a French/U.S. agreement that attempts to resolve the question of when and under what conditions countries will be able to purchase gold at a price above the official price. I will be leaving Washington on Tuesday evening, December 9, to join Governor Wallich for the meeting of G–10 Deputies on the 11th and 12th. I think that it would be very useful to Governor Wallich and to me if you could give me your reactions to this proposal before I left on Tuesday."
Document 128: Memorandum From Secretary of the Treasury Simon to President Ford
Washington, January 13, 1976.
Source: Ford Library, National Security Adviser, NSC International Economic Affairs Staff Files, Box 5, Presidential Subject File, Monetary Affairs. No classification marking. A notation on the memorandum indicates the President saw it.
Document 129: Briefing Memorandum From the Assistant Secretary of State for Economic and Business Affairs (Enders) to Secretary of State Kissinger
Washington, January 15, 1976.
Source: National Archives, RG 59, Records of Secretary of State Henry Kissinger, Entry 5403, Box 19, Nodis Memcons, December 1976. Limited Official Use. Drafted by Gordon Balabanis of the Office of Monetary Affairs, Bureau of Economic and Business Affairs.
Document 130: Memorandum From Robert Hormats of the National Security Council Staff to the President's Assistant for National Security Affairs (Scowcroft)
Washington, March 17, 1976.
Source: Ford Library, National Security Adviser, NSC International Economic Affairs Staff Files, Box 5, Presidential Subject File, General Economic. Secret; Sensitive; Eyes Only.
Document 131: Memorandum From Robert Hormats of the National Security Council Staff to the President's Assistant for National Security Affairs (Scowcroft)
Washington, March 19, 1976.
Source: Ford Library, National Security Adviser, Trip Briefing Books and Cables for President Ford, Box 21, June 27–28, 1976—Puerto Rico Economic Summit, General (2). Secret. Sent for action.
Document 132: Memorandum From Secretary of the Treasury Simon to the Economic Policy Board
Washington, undated.
Source: Ford Library, L. William Seidman Papers, Box 77, Economic Policy Board Subject File, Monetary—International. No classification marking.
Document 133: Memorandum of Conversation
Washington, March 26, 1976
Source: National Archives, RG 59, Central Foreign Policy Files, P820117–1477. Confidential; Nodis. Drafted by Poats and approved in S on April 5.
Document 134: Memorandum From the Under Secretary of State for Economic Affairs (Robinson) to Secretary of State Kissinger
Source: Ford Library, U.S. Council of Economic Advisers Records, Alan Greenspan Files, Box 39, Subject Files, Economic Summit (Puerto Rico) June 1976 (3). Secret; Sensitive; Nodis.
Document 135: Memorandum of Conversation
Washington, April 6, 1976.
Source: Ford Library, National Security Adviser, NSC International Economic Affairs Staff Files, Box 3, Presidential Subject File, Economic Summits—Puerto Rico (1). Secret; Nodis. Drafted by Poats and approved on July 13 by the Secretary of State's Special Assistant Haley Collums.
Document 136: Memorandum of Conversation
Washington, April 7, 1976.
Source: National Archives, RG 59, Central Foreign Policy Files, P820117–2133. Confidential; Sensitive; Nodis. Drafted by Poats and approved by Collums on July 16.
Document 137: Message From President Ford to West German Chancellor Schmidt
Washington, undated.
Source: Ford Library, National Security Adviser, Kissinger–Scowcroft West Wing Office Files, Box 35, West Germany (6) (4/14/76–7/15/76). Secret; Sensitive. Sent via Charlie Channel. Initialed by Scowcroft. This message is Tab A to an April 14 memorandum from Scowcroft to President Ford that reads: "Based on your conversation with Secretary Kissinger on Monday in which you agreed on the usefulness of exploring a possible follow-up meeting to Rambouillet, I am forwarding a message (Tab A) for your approval to FRG Chancellor Helmut Schmidt seeking his views." Scowcroft noted that "The message does not include specific reference to the matter of location, as it is important first to have his reaction to the concept. The fact that you are initiating the dialogue on the second summit reserves the option of proposing the United States as the site. This can be done in a second round of messages and in George Shultz's meeting with Schmidt." President Ford initialed his approval of this message.
Document 138: Memorandum of Conversation
Washington, May 18, 1976, 10:15–11:49 a.m.
Source: Ford Library, National Security Adviser, Memoranda of Conversation, Box 19. Secret; Nodis. The conversation took place in the Oval Office. All brackets, except those that indicate omitted material, are in the original.
Document 139: Editorial Note
Document 140: Memorandum of Conversation
Washington, June 4, 1976, 11 a.m.–12:10 p.m.
Source: Ford Library, National Security Adviser, NSC International Economic Affairs Staff Files, Box 3, Presidential Subject File, Economic Summits—Puerto Rico (3). Secret; Nodis. Drafted by Preeg and approved on July 2 by Collums. The meeting took place in the Secretary of State's conference room.
Document 141: Backchannel Message From the Under Secretary of the Treasury for Monetary Affairs (Yeo) to Secretary of State Kissinger and Secretary of the Treasury Simon
Munich, June 9, 1976, 1555Z.
Source: Ford Library, National Security Adviser, Kissinger–Scowcroft West Wing Office Files, Box 11, Economic Summit Conference, 6/76, Items AA–DD. Top Secret; Immediate. Also sent to Scowcroft, Seidman, Hormats, Sonnenfeldt, and Greenspan.
Document 142: Backchannel Message From the Under Secretary of the Treasury for Monetary Affairs (Yeo) to Secretary of State Kissinger and Secretary of the Treasury Simon
Munich, June 9, 1976, 1555Z.
Source: Ford Library, National Security Adviser, Kissinger–Scowcroft West Wing Office Files, Box 11, Economic Summit Conference, 6/76, Items AA–DD. Top Secret; Immediate. Also sent to Scowcroft, Seidman, and Hormats.
Document 143: Backchannel Message From the Under Secretary of the Treasury for Monetary Affairs (Yeo) to Secretary of State Kissinger and Secretary of the Treasury Simon
Munich, June 9, 1976, 1945Z.
Source: Ford Library, National Security Adviser, Kissinger–Scowcroft West Wing Office Files, Box 11, Economic Summit Conference, 6/76, Items AA–DD. Top Secret; Immediate. Also sent to Scowcroft, Seidman, Hormats, Greenspan, and Sonnenfeldt.
Document 144: Memorandum of Conversation
Washington, June 14, 1976, 4:30–5:30 p.m.
Source: Ford Library, National Security Adviser, NSC International Economic Affairs Staff Files, Box 3, Presidential Subject File, Economic Summits—Puerto Rico (3). Secret; Nodis. Drafted by Preeg and approved on July 1 by Collums. The meeting took place in the Secretary of State's conference room. A June 13 briefing memorandum from Sonnenfeldt and Hormats to Kissinger on the subject of this meeting is ibid., Trip Briefing Books and Cables for President Ford, Box 21, June 27–28, 1976—Puerto Rico Economic Summit, General (3).
Document 145: Memorandum From the Chairman of the Council of Economic Advisers (Greenspan) and the President's Assistant for National Security Affairs (Scowcroft) to President Ford
Washington, June 16, 1976.
Source: Ford Library, National Security Adviser, Trip Briefing Books and Cables for President Ford, Box 21, June 27–28, 1976—Puerto Rico Economic Summit, General (4). Secret. Sent for information. A stamped notation indicates Ford saw the memorandum, which he initialed.
Document 146: Memorandum From the Under Secretary of the Treasury for Monetary Affairs (Yeo) to President Ford
Washington, June 24, 1976.
Source: Ford Library, President's Handwriting File, Subject File, Box 49, Trips—Foreign—Economic Summit—1976 (4). No classification marking. A stamped notation on the memorandum indicates the President saw it.
Document 147: Memorandum From the Chairman of the Council of Economic Advisers (Greenspan) and the President's Assistant for National Security Affairs (Scowcroft) to President Ford
Washington, June 25, 1976.
Source: Ford Library, President's Handwriting File, Subject File, Box 49, Trips—Foreign—Economic Summit—1976 (4). No classification marking. A stamped notation on the memorandum indicates the President saw it.
Document 148: Memorandum of Conversation
Dorado Beach, Puerto Rico, June 27, 1976.
Source: Ford Library, National Security Adviser, NSC International Economic Affairs Staff Files, Box 4, Presidential Subject File, Economic Summits—Puerto Rico (7). Top Secret; Sensitive. The first summit session began at 4:15 and concluded at 7:05 p.m. It took place in the Salon Del Mar at the Dorado Beach Hotel. In attendance were President Ford, Kissinger, and Simon; Canadian Prime Minister Trudeau, MacEachen, and Macdonald; French President Giscard, Sauvagnargues, and Fourcade; West German Chancellor Schmidt, Genscher, and Apel; Italian Prime Minister Moro, Rumor, and Colombo; Japanese Prime Minister Miki, Miyazawa, and Ohira; British Prime Minister Callaghan, Crosland, and Healey. (Ibid., President's Daily Diary)
Document 149: Memorandum of Conversation
Dorado Beach, Puerto Rico, June 28, 1976.
Source: Ford Library, National Security Adviser, NSC International Economic Affairs Staff Files, Box 4, Presidential Subject File, Economic Summits—Puerto Rico (7). Top Secret; Sensitive. The summit session took place in the Salon Del Mar at the Dorado Beach Hotel. The second session concluded at 11:30 a.m. (Ibid., President's Daily Diary) For a list of participants, see footnote 1, Document 148.
Document 150: Memorandum of Conversation
Washington, June 29, 1976.
Source: Ford Library, National Security Adviser, NSC International Economic Affairs Staff Files, Box 4, Presidential Subject File, Economic Summits—Puerto Rico (8). No classification marking. All brackets are in the original. The meeting was held in the Cabinet Room. The meeting began at 11:37 a.m. and concluded at 12:44 p.m. (Ibid., President's Daily Diary) President Ford's talking points for the meeting, contained in a June 28 memorandum from Scowcroft with a notation that the President had seen the talking points, are ibid., National Security Adviser, Trip Briefing Books and Cables for President Ford, Box 22, June 27–28, 1976—Puerto Rico Economic Summit, General (11).
Document 151: Memorandum From the President's Assistant for National Security Affairs (Scowcroft) to President Ford
Washington, October 9, 1976.
Source: Ford Library, National Security Adviser, Presidential Agency Files, Box 18, Treasury Department, 5/24/76–10/27/76. Secret. A stamped notation indicates the President saw the memorandum, which he initialed. Sent under cover of an October 1 memorandum to Scowcroft from Hormats in which he notes: "The discussions reveal a number of significant problems facing the world economy, especially the massive debt positions of a number of nations and the still uncertain outlook for the current recovery. Both problems have come to worry me considerably over the last several months as the data on inflation, levels of unemployment, and debt of the industrialized democracies and major non-OPEC developing countries begins to come in. I am in the process of preparing a more detailed memo for you on this issue—but you should be aware of the very real risk that the international economy is in for a very rough period in coming months."
Document 152: Memorandum From the President's Assistant for National Security Affairs (Scowcroft) to President Ford
Washington, January 7, 1977.
Source: Library of Congress, Manuscript Division, Kissinger Papers, Box CL 141, Geopolitical File, France, Chronological File, Oct. 1976–Jan. 1977, n.d. Confidential. Sent for information. A stamped notation indicates Ford saw the memorandum, which he initialed.