View PDF

The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.

August 5, 1971

P e rso n a l and Confidential

D ear M r. P re s id e n t:
T h e J a p a n e s e A m b a s s a d o r, who had re q u e s te d an
e a r l y ap p o in tm en t, h a s ju s t to ld m e th a t th e J a p a n e s e
G o v e rn m e n t would be q u ite w illing to r e v a lu e th e yen in
co n ju n ctio n w ith s o m e in te rn a tio n a l a r r a n g e m e n t. They
f e e l th ey can n o t do it u n ila te r a lly .
A s you m a y r e c a l l , the F r e n c h F in a n c e M in is te r ,
G i s c a r d d 'E s ta in g , m a d e a s i m i l a r o b s e rv a tio n to m e
about F r a n c e and su g g e ste d th a t w e ta k e le a d e r s h ip in
b rin g in g about a re a lig n m e n t of th e e x ch a n g e p a r itie s of
m a jo r c o u n tr ie s .
S in c e r e ly y o u r s .

A rth u r F . B u rn s

T he H o n o rab le R ic h a r d M . N ixon
T he P r e s i d e n t of th e U nited S ta te s
T he W hite H ouse
W ash in gto n , D. C .

Copy to :




S e c r e t a r y C onnally


Federal Reserve Bank of St. Louis, One Federal Reserve Bank Plaza, St. Louis, MO 63102