start

Mr Stuart (o.r.)

PERSONAL AND CONFIDENTIAL

Reference

18

I attach copies of a letter I have sent to Sir M MacLehose, covering the Bank of England paper and my observations on it.

2. I have marked the envelope "To be opened by Sir M MacLehose personally". I have also taken the liberty of putting your name on the envelope as the originator: in this conspiratorial atmosphere, I felt that my own name on a personal letter might encourage speculation which would be better avoided.

3. Whilst we must leave the Governor to handle the Hong Kong end of the conspiracy as he sees fit, I am as you know worried by the Whitehall end. Mr Tomkins routes the Bank paper through you as the natural channel for a communication of this sort; will he not think it equally natural to mention this paper to David Walker when (as he no doubt will) calls for briefing? The Governor wishes that David Walker knows nothing of these discussions and exchanges. Are his wishes known right down the Bank hierarchy to Mr Tomkins and below? Perhaps, but I am far from sure. It is all very tiresome: I imagine we shall have to pinch-hit as best

we can.

30 December 1974

n.

2. Male

I ir D. Nation to see

ян

D G Holland

A

Mr Holland says

the conspintoral method

is trosome and very likely ineffective,

but the

Covenor has his own

beat problems and we must

respect

his

wishes

as fa

bre.

3/1

CODE 18-77

PERSONAL AND CONFIDENTIAL

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