TNAG-0381-FCO40-427-Sterling-assets-and-balance-of-payments-of-Hong-Kong-1973 — Page 20

PS to Mr Royle

CONFIDENTIAL

W 209

HONG KONG: MONETARY MANAGEMENT AND INSTITUTIONS

When Mr Royle saw me at a party last week, he told me that he wished to have a chat about Hong Kong. I said that I was in the process of preparing a paper on the above subject, and that perhaps the discussion with me could take place after I had finished

the paper.

w/209E 2. I now attach my paper. It is over-long, and I do not suggest

that Mr Royle needs to read it all.

attention to paragraphs 18

ww

But perhaps you could draw his

21 and the separate Personal addendum,

which might serve as a basis for his talk with me.

3. Could I add that my paper is at present a purely personal one? I am sending it to-day to the Department, so that it does not yet incorporate any views of the other FCO officials. Subject to Mr Royle's views, what I would have in mind that after consideration within the FCO it might be appropriate to show a version (of course suitable sanitised) of my paper to those in the Treasury and more especially the Bank of England who are more expert in these matters

than I am.

2 November 1973

c.c.

j

Sir D Watson

Mr Youde

Mr Stuart

CONFIDENTIAL

D G Holland