TNAG-1347-FCO40-1777-Financial-policy-in-Hong-Kong-1984 — Page 61

Mr Holland

Mr Elston

A K Latter Esq

Monetary Affairs branch.

Hene For.c Government

4th Floor

Admiralty Centre

Towel

8 Harcourt load

Hong Kon

recently discovered that

Fuview for Fall

When

i

aper in

IPE Manneapolis

articularly in the implienti.ne

and actions of the long Fony Mon

Wille it is time tha the pdf 14-

beview is not probally among the

or elsewhere, nevertheless, as 1

Wallace are among the leading

anything that they write is likely

in the 1:

...

istr

and

hev

a wide audience.

I have no real advice on how you should proceed. 1 very much doubt

whether the FRB Minneapolis would print a rebuttal. Ferhaps it would

be best to remain quiet, but, then, I do think that the allegations

made in the paper are both unfounded and damaging. Another

possibility would be to write privately to Tom Sargent, and to enquire

whether he was going to return to Hong Kong, so you could have the

opportunity of correcting some of the misconceptions. Would you like

me to write to him, though I would really rather not do so for various