ONCE AND FUTURE CANDIDATES

SLOWLY, the roll call proceeded down through the alphabet. When it came to W, West Virginia, then Wisconsin, spirits in the Rockefeller suite at the Hotel Americana fell as flat as the champagne that had earlier been ordered for a victory celebration. Bitterly disappointed as he was, Nelson Rockefeller seemed almost relieved at the same time. Hugging his wife Happy, he whispered, "Now we can really relax." Stepping out into the hall a few minutes later, he sighed to no one in particular: "Oh, my!"

Ronald Reagan's reaction to defeat was not much different. Arriving back at his Deauville Hotel headquarters shortly after Richard Nixon had been nominated, the Californian was greeted by milling campaign workers, still carrying placards. The signs, different from those that had been hoisted a few hours before, read: "Reagan for President in 1972." The Governor's reaction: "Oh, for heaven's sake!"

No Disagreement. Both Governors were gracious losers, with no complaints and no excuses. Stepping to the podium as soon as the result was clear, Reagan asked the convention to declare itself "unanimously united behind the candidacy of Richard Nixon for President of the United States."

Rockefeller was on the phone with congratulations to the winner almost immediately, finally ending his $6 million, 100-day campaign. While friendly enough, the three-minute conversation was somewhat stilted. "Your daughters looked nice on TV," Rocky told Nixon. The winner expressed hope that the two could get together soon. Rockefeller did not disagree but noted that after the convention, he was going to the family estate at Seal Harbor, Maine. "I'm off to California," replied Nixon. The conversation ended on that high note. The next night Rockefeller appeared on the platform in person to offer congratulations. Unlike 1964, when he was loudly booed by the convention, he was given a two minute ovation.

What had happened to all the optimistic predictions? "It looks like I didn't count properly," said Rocky. "I fell 75 short of what I estimated, and Ronnie fell 100 short of what he estimated." Reagan, for his part, said philosophically that he would not have done--could not have done--anything other than what he did.

Both promised to work for Nixon in the fall, though Rockefeller could not bring himself to even utter the name of Spiro Agnew. "It is the privilege and tradition of the man who is the nominee," he said, "to pick his running mate. This is Mr. Nixon's day, and I have no comment." Privately, however, Rocky was furious, looking upon the choice of the obscure Maryland Governor as not only a personal slap in the face but also a serious blunder on Nixon's part. Agnew, he felt, was simply not up to the job. "It's Nixon's idea of how to solve the nation's problems," said a Rockefeller aide, "mix oil and water. People are throwing up all along Collins Avenue."

Thinking Twice. In public, however, all faces were smiling, and no one would be able to accuse the losers of disloyalty --probably the most damaging charge that has been made against Rockefeller this year. Both can still look ahead. Unlike Barry Goldwater, who let his Senate term expire so that he could run for President in 1964, Reagan and Rockefeller have jobs to return to as Governors of the first and second most populous states. With his support still apparently undiminished in California, Ron will probably try for a second term as Governor in 1970. If Nixon loses in November, Reagan might be in a good position to try again, at 61, for the nomination in 1972.

After six years as head of the nation's most complex state, California's Governor could hardly be faulted, as he was this year, for inexperience. By the same token, his luster might dim with so much exposure to some of the nation's most corrosive problems. In the meantime, whether Nixon wins or loses, Reagan will be a potent spokesman for conservatism, both in the party and in the country.

No Boxes. Rockefeller's position is not so sanguine. Already well into his third term, he will undoubtedly think twice before seeking an unprecedented fourth in 1970. A Senate seat is even less likely. One New York Senate seat will be voted on this fall, while for the other, Rockefeller will soon appoint a successor to the late Robert Kennedy. With his limitless fortune, Rockefeller is not dependent on the normal political bases, however. He could thus retire in 1970 and still, at 64, go after the presidential nomination in 1972, assuming, of course, that he would be opposing President Humphrey and not President Nixon. Though he is obviously wearied by his third try for the nomination, Rocky did not veto a fourth. "I've learned long ago," he said, "not to put yourself in a box and limit yourself for the future."

As leader of the liberal faction and an urban expert, Rocky might, if traditional rules operated, expect a top post in a Nixon Cabinet, perhaps Secretary of State or Secretary of Health, Education and Welfare. Temperament --both his and Nixon's--would probably rule this out. Rockefeller actually says that he would reject an offer even if it were tendered: "I can do more in my own state."

No Lack. Like John F. Kennedy in 1956, all of the party's glamorous young liberals--particularly Senators Mark Hatfield and Charles Percy and New York's mayor, John Lindsay--were helped rather than hurt by all of the speculation about their vice-presidential qualifications.

All are young enough to still be attractive in 1976, if Nixon's election should block 1972 for them. Even the abortive rebellion against Agnew as a candidate for Vice President worked to boost Lindsay. While he first encouraged talk about his own candidacy for the vice-presidency, by hinting to reporters that he might be available, he later retreated, not only spurning the rebels but even seconding Agnew. Though in the past Lindsay has held himself somewhat aloof from the party --he ran almost as an independent in his 1965 mayoral campaign--he thus proved his loyalty. One thing is certain: If Nixon should fail in November, there will be no lack of willing hands to pick up the party's banner.

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