COMETDETI. L
Reference
(206)
RECEIVED IN
REGISTRY No. 51
13 NOV 1973
HRR.5/1
HOTE FOR THE FILE
HONG KONG: STERLING GUARANTEES
I discussed with the Treasury yesterday evening the amendments we wanted to see made to their Intest draft of the telegram to Hong Kong.
They accepted our suggestion for tightening up the end of paragraph 5 "We would sen difficulty in any other approach". They were not prepared, however, to consider our suggestions about the prosentational aspects, though ihr Barratt agreed that, if the Hong Kong authorities came back to us on the point we could allow them, if pressed, to say that
there has been a purely technical adjustment to to reflect the change in coverage".
3. But I was not able to shift the Treasury at all either to includes the reference to confidencial briefing by laddon-Cove or on including the point about limited EP. On the first, the Treasury argued that circumstances had changed for the better since the Governor hed sent that talegrem, and thet fn ny enso our telegram to ha gave him in opening to return to the charge 15 he wanted to. On the second, as I minuted carlier, the Treasury take the view that this point was already voll understood by the Hong Kong authorities and this had been conftimed by 1hr Toyton (Bank of Barland) during his recent visit there.
I finally agreed to send the telegram without these further amendments. It socmed to me to be more important to get the good news to Hong Kong before the atmosphere there turned ugly again, rather than hol/ tar exercise up for another day while ve engaged in yet another and possibly a unlly fruitless round with the Tronsury.
3 liovember 1973
SJC CABEIDGE Financial Relations Department
cc: r Stuart IIRIOD (e spoke)
Mir Holland
Private Secretary to Mr Royle
OD 145177 219242 500M 4/73 GM 3643/2