в

отр.

191

TELEGRAM/ Cypher,

TOP SECRET

Immediate to IMMEDIATE

Qwv.

Над кам

814

Recypdered y sent for 1)

2.9.46 Affet

19305

Please pass to Evans Thomas from Treasury.

begin

My immediately preceding telegram

paragraph 2(1) Consideration I had in mind was

as follows:

1. Large holdings of H.K. dollars in South China might be temptation to Chinese exchange control. These H.K. notes would not be easy to extract for C.N.D., but since we are not going to lend China sterling she may prefer this way of getting it to buying it for U.S. dollars.

2. On other side of picture, Chinese holders might think that their holdings would be safer from conversion into C.N.D. if they were in the form of a Hong Kong Government sterling loan.

ends

Cores Miss Athe hin

b

(Trem

90130100,

ΕΛΙ

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