TNAG-0448-FCO40-513-Sterling-assets-and-balance-of-payments-of-Hong-Kong-1974 — Page 56

SJ G Cambridge Esq.,

Foreign & Commonwealth Office, Great George Street, London SW1

Treasury Chambers Parliament Street London SW1P 3AG

Telephone 01-930 1234 ext

460

12 June 1974

(whi)

bean John

HONG KONG TELEGRAM NO.594

I attach a draft reply to this telegram. When we discussed this earlier (and on the basis of the brief tentative draft reply which you kindly sent to me) I had in mind a fairly brief response.

On further reflection we have, I think a

pretty robust defence on most of the points raised, and probably we should articulate it.

Copies of the

2. I should be most grateful for your comments and those of the other recipients of this letter.

letter and attached draft go to Payton, Stuart and Aust.

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Dand Waln

(D.A. WALKER)