ZFLHMJA) 120/Y1/01
Registry
NO. ME9/39311
SECURITY CLASSIFICATION
Top Secrets
Secret.
Confidential.
Restricted:
Unclassified;
PRIVACY MARKING
In Confidence
DRAFT LETTER
To:-
DA Walker Esq HM Treasury
Type 1 +
FROM
S JG CAMBRIDGE
Telephone No. Ext.
Department
Fray A -146 11
c.c.
S W Payton Esq
CMG
Bank of England
Mr Stuart.
HRIOD
Mr
Aust Dog Legal Advisers
STERLING GUARANTEE: HONG KONG
Thank you for your letter of 12 June.
2. We are very happy with the substance of your draft telegram, which should provide Hong
Kong with the reasoned statement of our case
I would which may have been lacking higherto.
is however suggest that it was rather too abrasive
in tone. We have therefore made some amendments
to tone it down a bit and to incorporate the
legal points made by Tony Aust. the inclusion of
wo nove added three other points:
In addition suggest
(a) I hope that the reference in para 5
to "working" days will make it more acceptable
(نا)
to Hong Kong. I have also added a sentence at the end of paragraph 6 in an attempt to counter
Hong Kong's arguments that they need a particularly long grace period because they find it difficult to know exactly (or even approximately) how much
sterling they hold at any given time; and
(c) I have attempted to strengthen the para plea
in the last paragraph for them to look forward rather than back, with the addition of the
sentence at the end of paragraph 5.
(3002) Dmd. 145244 400M 10/73 L.Ltd. 839/1
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