Deputy Secretary Simon with President Richard Nixon and White House Chief-of-Staff Alexander Haig in the Oval Office, December 20, 1973
Deputy Secretary Simon with President Richard Nixon and White House
Chief-of-Staff Alexander Haig in the Oval Office, December 20, 1973
The subject files series consists of the topical office files maintained by Simon during his years as Deputy Secretary (December 1972 to May 1974) and Secretary (May 1974 to January 1977) of the Department of the Treasury. The subject files reflect many facets of Treasury business, from monetary crisis to Middle East oil, from taxes to tariffs. In addition, the subject files provide a detailed look at the machinery of the Treasury and at the Treasury's role in the running of the federal government. Materials in this series include incoming and outgoing memoranda, correspondence, briefing papers, reports, and printed matter. The subject files series is divided into two parts, the Deputy Secretary subseries and the Secretary subseries, and is further arranged alphabetically by subject.
The Deputy Secretary years were shaped by three events: Simon's appointment to head the Oil Policy Committee, the energy crisis of 1973-74, and Simon's appointment to head the Federal Energy Office, making him America's energy czar. As a result, The Deputy Secretary subseries is dominated by oil issues and the energy crisis. Most important among these materials are the Federal Energy Office files maintained in the Deputy Secretary's office as Simon held the two positions simultaneously. Named head of the FEO in December 1973, Simon was charged with the responsibility of minimizing the effects of the energy crisis and preventing future crises. The subject files series includes material concerning emergency energy legislation aimed at providing policy-making authority to deal with the crisis. Further, the FEO files contain information on significant policy decisions such as rationing, price controls, and fuel tax measures designed to reduce consumption, as well as windfall profit tax proposals to deal with the changes in the world oil market. Additional stopgap measures employed by the FEO and documented in the files include a nationwide conservation campaign and an intricate system of oil allocation.
The Federal Energy Office files reveal the considerable interest in finding additional energy sources to fill the gap caused by soaring demand, stagnant domestic supply, and the Arab oil embargo. Among the possibilities discussed are the conversion of industry from oil- to coal-burning plants and the tapping of naval petroleum reserves. Discussion of expanding domestic production includes building an Alaska oil pipeline, exploring the possibilities of shale oil, and leasing additional outer-continental shelf drilling rights. Long- term proposals are also documented, including the beginnings of Nixon's intensive energy research and development plans as well as the initial proposals for Project Independence, a program for U.S. energy self-sufficiency by 1980.
References to a variety of other energy-related issues are found in the Federal Energy Office files. FEO files regarding the 1974 International Energy Conference, a Simon/Kissinger press conference, and the export and import of energy all touch on international energy matters. Correspondence with steel, automotive, airline, and petrochemical officials concerns the role of industry during the energy crisis. And congressional correspondence treats all of the issues--allocation, conservation, regulation, and others-- surrounding the energy crisis, particularly those affecting the congressmen's constituents.
Prior to the establishment of the FEO, Simon chaired the Oil Policy Committee from February to December 1973. The Oil Policy Committee files document both Simon's briefings on energy issues and early meetings of the OPC. Important concerns of the Committee included changes in oil import policy, allocation policy, and price controls, and the resulting strains on independent refiners as well as individual consumers. These issues are repeatedly addressed in the numerous files of correspondence with members of Congress, corporate officials, and other individuals. The correspondence files also contain a wealth of background information used in the policy- making process. Important correspondents include government administrators, members of Congress, and oil industry executives.
Additional information on energy policy is found throughout the Deputy Secretary subseries. Files on allocation include outlines and evaluations of various allocation programs, correspondence regarding industry acceptance and compliance, summaries of public hearings on allocation, and memoranda on allocation legislation. Files concerning the early days of the energy crisis are contained in the energy files predating Simon's FEO appointment. Additional energy files including memoranda on Nixon's Energy Message and the Mansfield/Scott meetings on crisis preparedness are found in this subseries.
The importance of oil in Simon's tenure as Deputy Secretary is underscored in material dealing with other countries. Files on Saudi Arabia, Algeria, and Canada all concern efforts to bring more oil into the United States. The North Star Project files reveal Treasury involvement in Tenneco's attempt to develop Siberia as a source of crude oil. Additional files regarding oil imports and the problematic Mandatory Oil Import Program document Simon's concern with international oil. Finally, the Saudi Arabia and Middle East files cover the Arab oil embargo and its effects on the energy crisis.
United States foreign trade is dealt with in files on exports (including those on domestic international sales corporations and export controls) and imports (such as those on the countervailing duty laws, the export/import bank, and miscellaneous trade problems). Files on the Law of the Sea provide a detailed look at attempts to regulate seabed exploration and coastal water rights. The east-west trade files show that committee`s attempts to coordinate trade with communist nations and the international financial institutions files reveal United States positions on such organizations as the Asian Development Bank.
Domestic financial affairs are also covered in the Deputy Secretary subseries, particularly taxes and the securities and banking industries. Memoranda, briefing papers, and summaries of public hearings deal with the Treasury's and Congress's development of the Nixon tax reform initiatives. Revenue sharing, Internal Revenue Service, and general tax files document further policy and administrative decisions of the Simon Deputy Secretary years. Additional files on the Securities Industry Committee, the Interest and Dividends Committee, the New York Stock Exchange, and taxable municipal bonds all deal with Treasury involvement in domestic financial institutions. The Treasury-sponsored capital markets study is thoroughly covered. Further, the Hunt Commission files document that group's attempt to evaluate and propose changes in the banking industry. Finally, materials concerning inflation and price control policies, including the Economic Stabilization Program, are contained in the Cost of Living Council files.
Files concerning the operation of the Department of the Treasury can be found in the Deputy Secretary subseries. Included are the results of Simon's Treasury self-assessment program, memoranda and correspondence regarding the General Accounting Office audit of the Economic Stabilization Fund, memoranda on the implementation of a Management by Objectives program, and correspondence about the President's Commission on Personnel Interchange. Further information on the running of the Department is contained in files on the Treasury budget.
Several other issues receive considerable attention in the Deputy Secretary files. First, the effects of changing energy policy on the environment are dealt with, particularly in the Environmental Protection Agency files. Second, there is information on the Federal budget and the possibility of placing a ceiling on the national debt. Third, there is documentation of the failure of the Penn Central Railroad and attempts to deal with the northeast rail situation. Finally, the Watergate file concerns allegations involving the Treasury during that affair, and in particular the Internal Revenue Service.
Drawer 12 Administrative Miscellany - Federal Budget
Folders
1 Administrative Miscellany: 1973
2 Aerospace Industry: 1973
3 Alaska Pipeline Testimony: 1973
4 Algeria: 1973-1974
5 Amortization (Five-year) - Certificate of Necessity:
1973
6 Arbitrage Bonds: 1973
7 Asian Development Bank: 1973
8 Atlantic Relations - "Year of Europe": 1973
9 Atomic Energy Commission: 1973
10 Australia: 1973
11 Balance of Payments: 1972-1973
12 Bankers Associations: 1972-1974
13 Bilderburg Meeting: 1974
14 Bolivia: 1973
15 Brazil: 1973
16 Business Council: 1973
17 Canada: 1973-1974
18 Capital Controls: 1973-1974
19-21 Capital Markets Study: 1973-1974
22 Cartels: 1973
23 Cattle Feeding: 1973
24 Chamber of Commerce: 1972
25 Civil Aeronautics Board: 1973
26 Commodities Market for Petroleum Advisory Committee: 1973
27 Community Development Bank: 1973
28 Comptroller of the Currency: 1973
29 Congratulatory Letters on Appointment as Deputy Secretary:
1972 (Dec.)
30 Congressmen Holding Board Positions: 1973
31 Consultants: 1973-1974
32 Cost Insurance Freight Vs. Free on Board (C.O.F. Vs. 33F.O.B.): 1973
34 Cost of Living Council: 1973
35 Cost of Living Council - Agenda and Policy Papers: 1972-
36-37 1973
38 Council of Economic Advisors: 1973-1974
39 Countervailing Duty Law and Anti-dumping Act: 1973-1974
40 Customs - General Services Administration: 1973-1974
41 Debt Ceiling: 1973
42 Debt Repayment by Foreign Countries: 1973
43 Debt Rescheduling: 1973
44 Domestic Council: 1973
45 Domestic International Sales Corporations: 1973
46-47 East-West Trade: 1973
48-49 Economic Data: 1972-1974
50 Economic Development Association: 1972
51 Economic Reports - EMB (Ltd.), Research Economists: 1973
52 Eisenhower Exchange Fellowships: 1973
53 Emergency Loan Guarantee Board: 1973
54-55 Energy - General: 1972
56 Energy Policy: 1973
57 Energy - Reorganization: 1973
58 Environmental Financing Authority: 1973
59 Environmental Protection Agency: 1972-1973
60 Environmental Protection Tax Act: 1973
61 European Community: 1973-1974
62 Export Control Program: 1973
63 Export Controls: 1973-1974
64 Export Development Credit Fund: 1973
65 Export-Import Bank: 1973-1974
66 Far East (India, Indonesia): 1973
67 Federal Budget: 1973-1974
Drawer 13 Federal Energy Office
Folders
1 FEO - Airline Industry: 1973-1974
2-3 FEO - Alaska Pipeline: 1973
4 FEO - Allocation: 1973-1974
5 FEO - Asphalt: 1973
6 FEO - Automobile Industry: 1974
7 FEO - Bass, Ronald - A National Energy Policy Philosophy:1974
8 FEO - Coal: 1973-1974
9 FEO - Coal - Statements by Industry Figures: 1972-1973
10 FEO - Congressional Meetings, Briefings, Television Tapings, Etc.: 1973-
1974
11-12 FEO - Conservation: 1973-1974
13-15 FEO - Correspondence - Congratulations on Appointment:1973-1974
16-19 FEO - Correspondence - Congressional: 1973-1974
20 FEO - Correspondence - General: 1973-1974
21 FEO - Correspondence - Government: 1973-1974
22 FEO - Correspondence - White House: 1973-1974
23 FEO - Daylight Savings Time: 1973-1974
24 FEO - Delegations on Authority: 1973
25 FEO - Depletion Allowance: 1974
26 FEO - Domestic Drilling Activity: 1973
27-28 FEO - Emergency Energy Action Group: 1973-1974
29 FEO - Emergency Energy Legislation: 1973-1974
30 FEO - Exports/Imports of Energy: 1974
31 FEO - Fuel Taxes: 1973-1974
32 FEO - International Energy Conference: 1974
33 FEO - International Energy Matters: 1973
34 FEO - Legislation: 1974
35 FEO - Lighting: 1973-1974
36 FEO - Meetings between WES and Interested Parties: 1973-1974
37 FEO - Naval Petroleum Reserves: 1973-1974
38-40 FEO - News Media: 1973-1974
41 FEO - Nuclear Energy: 1973
42 FEO - Oil Companies: 1973-1974
43 FEO - Oil Shale: 1973-1974
44 FEO - Oil Stocks and Storage: 1973-1974
45 FEO - Outer Continental Shelf Leasing: 1973-1974
46 FEO - Petrochemicals: 1973-1974
47 FEO - Pricing: 1973-1974
48-49 FEO - Project Independence: 1974
50 FEO - Propane: 1973-1974
51 FEO - Railroad Systems: 1973-1974
52 FEO - Rationing: 1973-1974
Drawer 14 Federal Energy Office - Marketer Group National Panel
Folders
1 FEO - Regional Offices: 1973-1974
2 FEO - Research and Development: 1974
3 FEO - Speeches and Statements: 1973-1974
4 FEO - Staff and Space: 1973-1974
5 FEO - State and Local Governments: 1973-1974
6 FEO - Steel: 1974
7 FEO - Strategic Materials: 1974
8 FEO - Uranium Enrichment: 1973-1974
9 FEO - Utility Companies: 1973-1974
10 FEO - Windfall Profits: 1973-1974
11 Federal Home Loan Bank Board: 1973
12 Federal Financing Bank: 1973-1974
13 Federal National Mortgage Association: 1972-1973
14 Federal Reserve: 1972-1973
15 Federal Reserve Bank of St. Louis: 1972-1973
16 Fertilizer: 1973-1974
17 Food: 1974
18 Footwear: 1973
19 Foreign Assistance Act: 1973
20 Foreign Controls: 1973-1974
21 Foreign Income Taxation: 1973
22 Foreign Petroleum Supply Committee: 1973
23 France: 1973-1974
24 Gallie Corporation: 1973-1974
25 General Accounting Office: 1972-1973
26 General Electric/SNECMA Engine Arrangement: 1973
27 Germany: 1973-1974
28 Gold: 1973-1974
29 Gonzalez Amendment: 1973
30 Government National Mortgage Association: 1973
31 Grain Market: 1973
32 Hungary: 1973-1974
33-36 Hunt Commission: 1973-1974
39 Interest and Dividends Committee: 1973
40 Internal Revenue Service: 1973-1974
41-42 Internal Revenue Service - Study of IdeologicalOrganizations: 1965
43 International Business Problems, Advisory Committee on:1973
44 International Development Association: 1973-1974
45 International Financial Competition: 1973
46 International Financial Institutions: 1973
47 Iran: 1973
48 Jamaica Alumina: 1973-1974
49 Japan: 1973-1974
50 Jones Act Waiver: 1974
51-54 Law of the Sea: 1973-1974
55 Law of the Sea - Policy Papers: 1973-1974
56 Legislation - Pending: 1973
57 Legislative Reorganization Act: 1973
58 Libya: 1973
59 Lockheed: 1973
60-61 Management by Objectives: 1973
62 Manpower Programs: 1973
63 Mansfield / Scott Meetings: 1974
64 Marketer Group National Panel: 1973
Drawer 15 Merchant Marine Act - Oil Policy Committee
Folders
1 Merchant Marine Act: 1973
2 Methanol: 1973
3 Mills, Wilbur D. - Remarks in House of Representatives:1973
4 Minority Bank Program: 1973-1974
5 Mint, Bureau of the: 1973-1974
6 Monetary Crisis: 1973
7 Money Supply: 1973
8 Multi-National Corporations: 1973
9 National Advisory Council: 1973
10 National Commission on Consumer Finance: 1973
11 National Urban Coalition: 1973
12 Natural Gas Deregulation: 1973-1974
13 Negative Income Tax Plan: 1973
14-15 New York Stock Exchange: 1973
16 New Zealand: 1973
17 News Media and WES Interviews: 1972-1974
18 North Star Project: 1973-1974
19-23 Northeast Rail Situation: 1973-1974
24 Norway: 1973
25 Office of Analysis and Special Studies of NaturalResources and Energy: 1973
26-28 Oil - Allocation: 1973
29 Oil - Allocation - Public Hearings: 1973
30 Oil - Desulfurization: 1973
31 Oil - Environment: 1973
32 Oil - Federal Trade Commission: 1973
33 Oil - Import Policy: 1973
34 Oil - International Aspects: 1973
35 Oil - Lead in Gasoline and Motor Vehicle Emission: 1973
36 Oil - Legislation: 1973
37 Oil - Middle East Situation: 1973
38-39 Oil - Phase IV: 1973
40 Oil Policy Committee - Appointment of WES: 1973
41-46 Oil Policy Committee - Correspondence - Congress: 1973(Feb.-June)
Drawer 16 Oil Policy Committee - Philanthropy and Tax Policy
Folders
1-6 Oil Policy Committee - Correspondence - Congress: 1973(July-Nov.)
7-16 Oil Policy Committee - Correspondence - General: 1973
17-22 Oil Policy Committee - Internal Correspondence andMemoranda: 1973
23-27 Oil Policy Committee - Meetings Between WES and InterestedParties: 1973
28 Oil Policy Committee - Personnel: 1973
29 Oil Policy Committee - Regional Subcommittees: 1973
30-31 Oil Policy Committee - Speeches, News Releases, Reports:1972-1973
32-34 Olympic Committee: 1972-1974
35-36 Penn Central: 1972-1973
37-39 Pension Legislation: 1973
40 Personnel: 1972-1974
41-43 Personnel Interchange, President's Commission on: 1972-1974
44 Peru: 1973
45 Philanthropy and Tax Policy: 1973
Drawer 17 Pompidou/Nixon Meeting - World Bank
Folders
1-2 Pompidou/Nixon Meeting (Iceland): 1973 (May)
3 President - Memoranda to and from W.E.S.: 1973-1974
4 Railroad Freight Cars: 1973
5 Railroad Retirement System: 1973
6 Reorganization Plan No. 1: 1973
7 Reorganization Plan No. 2: 1973
8-9 Revenue Sharing: 1972-1974
10 Romania: 1973
11-12 Salomon Brothers: 1971-1973
13-15 Saudi Arabia: 1972-1974
16 Savings Bonds: 1972-1973
17 Securities and Exchange Commission: 1973-1974
18 Securities Industry Committee: 1973
19 Securities Markets: 1973-1974
20 Self-Assessment of Treasury: 1973
21 Shultz, George P. - Speeches and Statements: 1973-1974
22 Social Security: 1973-1974
23 Soviet Gas: 1972
24 Spain: 1973-1974
25 Speaking Engagements: 1973-1974
26 Standard and Poors: 1972-1973
27 Stockholders Investment Act: 1974
28-30 Stockpiles: 1973-1974
31 Student Loans: 1973
32 Surinam: 1973
33 Surveys re Energy Situation: 1973-1974
34 Switzerland: 1973
35 Synthetic Fuels: 1973
36 Tariff Act of 1930: 1973
37 Tax Court: 1973-1974
38 Tax Deferral for Foreign Subsidiaries: 1973
39-41 Tax Reform: 1973
42-44 Tax Reform - Hearings: 1973
45 Taxable Municipal Bonds: 1972-1974
46-47 Taxes - General: 1972-1974
48-49 Trade: 1973
50-52 Treasury Budget - Fiscal Year 1974: 1973
53 United Kingdom: 1973-1974
54 User Charges: 1973
55 Venezuela: 1973-1974
56 Wankel Engine: 1973
57-58 Watergate: 1973-1974
59 White House - Memoranda to and from Staff: 1973-1974
60 Withholding Taxes for Foreign Investors: 1973
61 Wolftrap Foundation: 1974
62 World Bank: 1973-1974
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August 1995