00091
Wt. 49614/485 3/48 50m. S. & S. Ltd.
C. O.
2018
Mr Emanuel
MJ.B.Williams.......
Mr.
Mr..
$21.8
Mayle 24/2 Came 23/8 atonce
DRAFT.
P
TELEGRAM
(Сурния
GOVERNOR,
HONG KONG.
(.22!
FURTHER ACTION.
Comer for
mi HIJ Thoma W CE col
yes
15488/17/46
Reiphered (orp) & sent
1845th 23/8/4/
to od 28h.
Permi. U.S. of S.
Parly. U.S. of S.
Secretary of State.
SECRET
..234
NO..
BROEIVEL 28 AUG 1946
LOFFICE
Your telegram No.834.
Debtor credit or relationships.
2-44
90
My telegram No.637 may, repeat may, be
discussed with Morse and I should be grateful
if you would do so.
2. As regards scale of revaluation in
respect of capital payments para. 7 of my
telegram No.637 refers.
I am not sure what
is meant by your suggestion that scale should
be based on purely nominal value of yen.
Underlying intention of my proposals is that
scale should be the fairest to both sides in
relation to particular category of transactic
mort affected. If it can be assumed that capital
repayments were made to take advantage of the
special circumstances this would justify
a scale-less favourable to Japanese currency
than the scale applicable to outstanding
debts.
Appropriate scales must be essentiall
a matter for local decision but I shall be
glad to know what scales you would be likely
to suggest if revaluation scheme is adopted.
3 Should be grateful also for explanation
of figure of 20 million dollars. Assume this
is after revaluation and should be glad to know relevant scale and also the apportionment
1
Ref.:
CO 537/1374
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