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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
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