For Evatt from Beasley.

1. Have made close enquiries at this end regarding the Monetary
Conference and find that the purpose is to keep the discussions on
a technical level. [3] As far as I can ascertain representation
will be confined to officials as this course will enable the
Government to review the Conference decisions impartially.

The United States Treasury had arranged for preliminary
discussions to commence on June 15th, but the United Kingdom could
not attend on account of the invasion and these discussions were
consequently postponed until June 24th. It is still uncertain
whether the United Kingdom will be present.

Apparently the United States Treasury wish to have the main
theories canvassed before the actual Conference begins and
further, to try and confine representation to technical advisers.

As far as I can judge there appears to be a doubt whether either
of the two large countries intend to reach firm decisions. Frankly
the report [4] forwarded savours of a form of preliminary window
dressing for the big event in the United States at the end of the
year.

Having regard to all the circumstances as I see them here, I feel
it would be very unwise to be represented on the Ministerial level
as it appears that no other Country intends to do so. I really
think we should allow the technical experts to continue their
discussions or if at a later stage this approach is thought
unnecessary, an observer could be sent along. Two points appear to
concern us.

(a) The quota in the exchange pool.

(b) The margin to be provided in special circumstances beyond the
quota.

These two issues I understand have been discussed in London [5]
but no finality has been reached and I am doubtful if London is
any further advanced. In the light of all the information here I
feel I should continue with my plan to reach home about the middle
of July as I will then be able to assist you with the referendum
campaign.

[matter omitted]

3. Will be in Ottawa tomorrow. Best wishes, all well.