SECRET

ii.

iii.

with Mr lladdon-Cave but rather to assess his views

and the atmosphere. There is a very clear shift in

in his views. At the same time, the atmosphere is

good, particularly as a result of Mr Barratt's visit

to llong Kong.

Mr Haddon-Cave himself recognised that if Ilong Kong

were locked in, there was no need in the short tem to

give them a guarantee. The point, however, perhaps is

not only what we need to tide us over the next six

months, but what we envisage thereafter. On that it

would seem clear enough that, having re-established the

sort of relations that we want with Hong Kong on

sterling questions, it would be well worth keeping

these in good repair.

Both sessions which I had with Mr Haddon-Cave were

very informal. While I have no doubt that all Mr

Haddon-Cave said to me reflects his real thinking,

the exact way in which any proposition was put to

Hong Kong would nonetheless have to discount

appropriately the frankness and friendliness with which

Mr laddon-Cave spoke.

28 January 1974

SECRET 3

PHR Marshall

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