The information, from the personal archive of former Prime Minister Margaret Thatcher, was recently published by Cambridge University's Churchill College, the BBC reported Friday.
The papers indicate some of Thatcher's closest advisers voiced concerns the Falkland Islands weren't worth the fight, the British newspaper The Guardian said Friday.
The report noted that, contrary to the pro-war spirit of the time, advisers considered ideas to buy out the 1,800 residents of the Falklands and turn the islands in the South Atlantic Ocean to Argentina, which demanded its return.
Her chief of staff, David Wolfson, suggested a $100,000 guarantee to each Falklands family, with repatriation to Britain, Australia or New Zealand, The Guardian said.
The British navy engaged the Argentine navy in securing the islands for Britain.
One Conservative Parliament member is quoted in the archive, as saying: "We're making a big mistake (in sending warships to the Falklands). It'll make Suez look like common sense."
Notable deaths of 2014 [PHOTOS]