TNAG-0379-FCO40-425-Sterling-assets-and-balance-of-payments-of-Hong-Kong-1973 — Page 292

SECRET

RECEIVE

(201

10 JAN 273

11 JAN 1973

MF9/3931

Markall

8th January 1973.

A

【Dear Geoffrey,]

Hong Kong

Mr. Kaway Plean

collent At fp. Will this

JJAC? come up cr Thank you for your letter of 3rd January. I agree that it

would be useful to have a talk about the implications of the Governor'

letter and am enclosing a short commentary on the letter, which might

serve to start off the discussions. Perhaps we could meet later

this week.

I entirely agree with the second point in paragraph 2 of

I alao your letter, and this is. I think, brought out in the note.

take the first point, though, to do the Governor justice, he is not

We know, of actually suggesting a guarantee in terms of the yen.

course, that Haddon-Cavo still has hopes of a Hong Kong dollar

guarantee.

(F.c.o.)

I am sending a copy of this letter and enclosure to Keeble

J.G.Littler, Esq.

HMT

[Yours sincerely,]

PA

(Signed) Stanley Payton

Z

сору

to M

Straff, HKIOD

SECRET M. Cow