US Edition The king voiced his fears after a committee of distinguished Whitehall mandarins was formed in 1933 to look at the number of awards made each year under the Order of the British Empire.
He suggested it would be "mistaken policy" to add to the "already large number of knighthoods" and called for honours to be limited to only the most worthy recipients.
Sir Frederick Ponsonby, the keeper of the privy purse, wrote to the panel: "The king wishes to know whether the committee realise that the main question underlying all their recommendations is whether the high standard that British decorations have hitherto attained is to be preserved, or if they are to be allowed to deteriorate and become as common and ridiculous as some of the foreign decorations."
But the king's opinions did not change the committee's conclusions on the changes needed to the allocation of honours.
The Order of the British Empire, which includes knighthoods, damehoods, the CBE, OBE and MBE, was created by George V in 1917 to recognise service in the First World War both on the battlefield and on the home front.
It was made permanent in 1922, but by 1933 there were concerns that restrictions on the number of honours that could be awarded meant it was proving impossible to reward all deserving candidates.
Documents recording the committee's deliberations, released by The National Archives, reveal the preoccupations with class and gender distinctions prevalent at the time.
The mandarins discussed replacing the title "Dame" with "Lady" because of the word's associations.
A memo noted: "The word 'Dame', however many honours with that title may be awarded, will probably remain in the public mind for years to come as a description of a woman of great age, a widow, or a mistress of a small school for young children."
It added: "If it is suggested that 'Dame' would be of greater interest historically, it could be equally well urged by way of reply that every Knight should be called 'Chevalier'."
But Sir Christopher Bullock, the permanent secretary of the air ministry, defended the use of the title.
He wrote: "Personally I regard 'Dame' as having quite a pleasant and dignified flavour, and I certainly doubt whether the commonplace 'Lady' (even the charwomen are today charladies!) would be more popular.
"I am told on good authority that one prominent Dame expressed open regret when that title was swallowed up by her husband's elevation to the peerage – and (though an antifeminist) I sympathise with her!
"If I am presented to Dame Helen X, I at once assume I am meeting a lady who has achieved distinction by her own personal merit."
In the end the committee decided to keep the title "Dame", and it continues to be used to this day.
Other concerns were expressed about the awarding of MBEs to people of lower social standing, like non-commissioned officers in the military and keepers of the Royal parks.
Sir Frederick wrote: "Members of the Order of the British Empire have a certain precedence, and not only them but also their wives.
"It therefore follows that a Company Sergeant Major would rank before his commanding officer if the latter had no orders.
"Also that the wife of a Company Sergeant Major who on retirement became a town councillor would at a civic function rank before the wife of the mayor.
"Two of the park keepers in St James's Park have the MBE, and therefore rank before the younger sons of baronets, the younger sons of knights and esquires. Many other Gilbertian situations could occur."