TNAG-0382-FCO40-428-Sterling-assets-and-balance-of-payments-of-Hong-Kong-1974 — Page 136

declarations, there would be no problem.

10. I reiterated that it should not be assumed that we would want to propose a "gentleman's agreement" of this sort. Hinisters might very well decide otherwise. But I invited Hr addon-Cave to try to formulate, and let us have as soon as possible, as precise ideas as possible about what might go into such an agreement, particularly as regards the amount of sterling which the Hong Kong Government would continue to hold in a situation in which there was no guarantee. He said he hoped to be able to do this early in January: I urged him to do it quicker, since we would need to make up our minds in the UK in time for the Chancellor to send a message to his Finance Minister colleagues very early in the New Year.

as

FOR BARRATT

26 November 1973