TNAG-0717-FCO40-914-Banking-and-monetary-matters-in-the-Dependent-Territories-is-1978 — Page 75

CONFIDENTIAL

Mr J S Jasper, Room K270, HK&GD

DEPENDENT TERRITORIES:

NUMISMATIC COINS

3

1.

Your minute of 1 February.

8

Reference

2. I do not think the long paper by the Bank of England should go to Dependent Territories without covering guidance since the emphasis is so heavily on the (alleged) risk to HMG of uncovered coin issue. However I have no objection to the paper being sent out at the same time as a guidance paper suggesting ground rules for the issue of coins which would maximise income from this source (in the long term rather than the short term).

3.

I regard it as too late to establish rules (on the lines of those established for stamps in earlier colonial days), the observance of which would be monitored by the FCO. I am happy to see that Mr White's minute supports this view.

4. I see no need for a meeting if HK&GD has time to extract the relevant advice from the Bank of England to prepare a circular letter or despatch.

Refu

R G Pettitt

Pacific Dependent

Territories Department

233 8149

K229

14-2-78

CC:

Mr Duff, WIAD

Mr Collins, MCD

Mr Hickson, SAMD

Mr Brown, SED

Mr Thompson, HK&GD

Mr Beattie, DTEU

Mr Bickford, Legal Advisers Mr V White, FRD

HKG 102/1

RECEN

14FEB 1978

DESK OF TUH

INDEX

No

PA

J.J.

0.51

REGISTRY

Action Taken

BL

CODE 18 - 7

CONFIDENTIAL

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