CRS 537 PRIDITY
EN CLAIR
UNCLASSIFIED
ORWELL,
FM BTC HK 1009452
TO PRIORITY FCO TEL 114 OF 10 SEPT, I
1973.
RECEIVED IN
BTC 114
MY TELEGRAM NUMBER BTC 113 OF 3 SEPT,
STERLING GUARANTEES,
REGISTRY No. 51
14 SEP 1973
شکات
1.331
SOUTH CHINA MORNING POST IN EDITORIAL TODAY UNDER HEADLINE 'STRAINS IN THE COLONIAL CONNECTION' SAYS THAT 'STRAINS WILL SOON START
TO SHOW IF HONG KONG DOES NOT GET A MORE UNDERSTANDING HEARING FROM BRITAIN ON STERLING RESERVES'. IT SAYS THAT LATEST PROPOSAL WHICH
IS SEEN AS SOLVING NOTHING 'CAN ONLY DEEPEN THE DISMAY IN LOCAL.
BUSINESS AND GOVERNMENT CIRCLES' AND PREDICTS THAT THE 'SINGULARLY ARROGANT MANNER IN WHICH UK OFFICIALS HAVE HANDLED THIS QUESTION
WILL NOT MAKE AN EVENTUAL COMPROMISE ANY EASIER. 'THE GRAVITY OF HONG KONG 'S CONCERN - BOTH ON THE OFFICIAL AS WELL AS THE MAN-IN-
THE STREET LEVEL SEEMS TO HAVE ELUDED THE BRITISH TREASURY'
AND TACTICS SO FAR SMACK TOO MUCH OF BIG BURLY BRITANNIA TELLING
+
HER RECALCITRANT LITTLE CCLONY TO STOP BEING A NUISANCE AND DO
AS MOTHER SAYS'. BUT EDITORIAL WARNS THAT 'BRITANNIA IS NOT SO BIG
HONG
AND CURLY THESE DAYS, AND HONG KONG HAS GROWN PAST THE STAGE WHERE IT CAN BE TREATED WITH SUCH LOFTY DISDAIN. IT CALLS FOR HONG KONG
REPRESENTATIVES
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