.3.
FROM SPECULATIVE MOVEMENTS AND THAT WE COULD REFRAIN NO LONGER
FROM TAKING ACTION ESSENTIAL TO OUR VITAL INTERESTS. IN SO DOING
WE SELECTED MEANS WHICH WOULD CAUSE LESS INTERFERENCE WITH
VOLUME AND PATTERN OF INTERNATIONAL TRADE THAN EITHER THE
REMEDY OF Q.R.S PROVIDED FOR UNDER GATT AND STOCKHOLM
CONVENTIONS OR OUR EARLIER TEMPORARY IMPORT CHARGE. IMPORT
DEPOSITS SCHEME MUST THEREFORE BE SEEN AS ESSENTIALLY PARTICULAR
MEASURE OF MONETARY RESTRICTION DEVISED FOR LIMITED AND
TRANSITIONAL PERIOD AND OF SHORT DURATION.
(HGNG KONG ONLY. PLEASE LET GOVERNOR SEE).
STEWART