TNAG-0717-FCO40-914-Banking-and-monetary-matters-in-the-Dependent-Territories-is-1978 — Page 36

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Miss Farrell

10

Honong and General Dept

Reference......

HKG.102/1

RECEN

INDEX

10 APR 1978

10. 51

ction T..

Mr. ľ nyzza &

NUMISMATIC C ING : RARE OF BLAD SURVEY

1. Your minute of 29 harch covering a draft summary of the

Bank's report.

2. I think that the Bank are much more gloomy about this problem than the circumstances justify, and that their pessimism colour? this draft in an unfortunate way. The rend r is left with the clear impression that issues of numismatic coins are regarded in London as a "roblem"; and anyen- in a territorial government will robably attribule this to a elfish worry by Ha on the scire of contingent li bility.

3. I lack both time and inclination to attempt a redraft, but my objections would be partly overcome by reorganization of the text. It seems to me odd that the possible courses of action listed on pagen 7-10 should appear in a section headed "Recommendations" and I therefore suggest that they should be moved in their entirety (subject to ore qualification about which more below) to pare C, where they would follow the second paragraph.

recommend tions Erobably better described as conclusions - will then mount to two cip paragraphs.

The

4. The qualification refers to sub paragraph (1) on page 10. Unless this document is quing to CAG's in the Fersonal serica

and perhaps even if it is that should surely be excised?

50

I assume thet HGD will includ: a reference to this now quidance in the revision of DTOP.

16

7 April 1978

CC

Dr Pickford

Anthony BEAUTE

Anthony Beattie

DTEU