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TO PRIORITY GOVERNOR HONG KONG TELNO 752 OF 1 AUGUST
FOLLOWING STRICTLY PERSONAL FOR GOVERNOR FROM MR. ROYLE.
MY TELIO 675.
1. YOU WILL BY NOW HAVE SEEN MY TELNO 742 ABOUT THE STERLING AGREEMENTS AND WILL UNDERSTAND THAT THERE IS NOTHING MORE THAT I CAN ADD ON THAT SUBJECT AT THIS STAGE. YOU WILL APPRECIATE THAT IN THE PRESENT DISTURBED INTERLATIONAL MONETARY SITUATION IT HAS HOT BEEN EASY FOR US TO FORM A JEW, UT I CAN ASSURE YOU THAT VE
UNDERSTAND YOUR PROBLEMS.
2. WHATEVER HAPPENS TO THE STERLING AGREEMENTS, IT IS NOT TOO EARLY TO BEGIN THINKING ABOUT THE MORE FUNDAMENTAL QUESTIONS OF
WHAT OVERALL FINANCIAL STRUCTURE WILL BEST SERVE THE INTERESTS -
OF HONG KONG. I DO NOT WANT TO SUGGEST ANSWERS AT THIS STAGE:
AND IN ANY EVENT, THEY COULD ONLY EMERGE AFTER EXPERT EXAMINATION ON THE SPOT. MOREOVER, WE NEED TO AVOID ROUSING FEACS IN HONG KONG THAT THE UK IS FOR ITS OWN PURPOSES TRYING TO IMPOSE PARTICULAR SOLUTIONS ON YOU. BUT WHAT DOES CONCERN ME IS THE VERY SMALL NUMBER OF TOP CLASS FINANCIAL ADVISERS ON WHOM YOU HAVE TO RELY. HADDON-CAVE CANNOT DO EVERYTHING. I WOULD LIKE TO BE ABLE TO OFFER YOU BOTH THE BEST FINANCIAL ADVICE AVAILABLE TO US AND PEOPLE TO
HELP CARRY IT INTO EFFECT.
SECRET
/3. I WOULD
copies personal to
Miss R GILMORE To
Пе
1. P. RACKHAM
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