PRIORITY
SECRET
Append.cx B
(-16)
!
CYPHER CAT A AND BY BAG
FM F C O 201600Z
SECRET [ORWELL]
(MF 9/1)
72
TO PRIORITY CANBERRA TELNO 1126 OF 20/16/AND TO CERTAIN OTHER POSTS INFO SAVING NUKUALOFA.
MIPT:
STERLING AGREEMENTS.
1. AT OUR RECENT MEETING OF COMMONWEALTH FINANCE MINISTERS IN LONDON, I SAID THAT I WOULD WRITE TO YOU ABOUT THE STERLING AGREEMENTS. AS SOON AS I CONVENIENTLY COULD AFTER MY RETURN FROM WASHINGTON.
2. 1 HAVE GIVEN A GOOD DEAL OF THOUGHT TO THE REPORTS I RECEIVED
ON THE CONSULTATIONS WHICH MY OFFICIALS AND THE BANK OF ENGLAND
BEGAN IN JULY, AND ALSO TO THE COMMENTS WHICH MANY OF MY COMMONWEALTH COLLEAGUES AND THEIR ADVISERS MADE IN LONDON AT THE TIME OF OUR RECENT MEETINGS.
3. IT SEEMED TO ME ÎN JULY THAT WE NEEDED TO CONSULT ABOUT THE POSSIBLE IMPLEMENTATION OF THE AGREEMENT WHILE STERLING IS FLOATING, AND ACCORDINGLY UK REPRESENTATIVES MADE SOME SUGGESTIONS TO YOU ABOUT THIS, BUT AS THINGS HAVE TURNED OUT THIS CONTINGENCY HAS NOT ARISEN, AND IT MAY BE SUFFICIENT FOR THE TIME BEING TO LEAVE THE PRESENT ARRANGEMENTS AS THEY ARE AND TO BE PREPARED TO CONSULT TOGETHER QUICKLY SHOULD THE NEED ARISE.
SECRET
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Reykjavik
140
IN
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