| Description | General problem of maintaining a peseta balance with Anglo South American Bank (AngloSam), Madrid. Proposal for St John Turner to visit Madrid to advise HM Government (HMG) not supported by Bank of England. Various sales of United Kingdom (UK) assets in Spain discussed. AngloSam to be kept in funds through Bank of England's peseta account with Bank of London and South America (BOLSA), this account being itself supplied by Exchange Equalisation Account (EEA). Bank of England's account designated 'A'. Out payments from AngloSam used for British Embassy expenditure, including finance of secret agents, and purchases of goods by UK Commercial Corporation. Exchange Equalisation Account to seek reimbursement from appropriate UK government departments Statistics of operations over the account, and of liabilities outstanding and likely resources, in file. Need to support refugees from various nations in Spain; 'B' account opened by Bank of England, especially for this purpose. Account to be fed solely with free pesetas obtained at the official rate. General survey of 'A' and 'B' accounts 21 Jun 1942, folio 143b. |