wise all sterling holders would claim the right to have their MSPs adjusted to take account of the difference between the minimum sterling holding on 24 September which would have met the terms under the old conventions and the same holding revalued at market rates for that date.
7.
A suggested draft reply is attached on which I should be grateful for your urgent comments.
8.
I am sending copies to Lewty, Stuart and Aust in the FCO.
Yours sincerely
W L ST CLAIR
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