Page:Statesman's Year-Book 1921.djvu/1222

 1170

PERSIA

Meshedisar, about 62 miles ; and from Teheran to Sultauabad, about 186 miles.

Total trade between Persia and United Kingdom (Board of Trade returns )

-

1916

1917

1918

1919

1920

Import* from Persia to U.K. Exports to Persia from U.K.

B

485,2.85 553,402

£

572,986 931,834

£

212,775 1,274,004

£

1,683,198 1,661,102

£

3,760,755 2,208,582

Banking and Credit.

The Shah in 1889 granted a concession to Baron Julius de Reuter for the formation of a State Bank of Persia, with head office at Teheran and branches in the chief cities. The bank was formed in the autumn of the same year, with the title " The Imperial Bank of Persia," and incorporated by Royal Charter, dated September 2, 1889. The authorised capital is 4 millions sterling, which may be increased. The bank started with a capital of one million sterling, of which the greater part was remitted to Persia at the then reigning exchange of 32-34. In consequence of the great fall in silver and the rise in the exchange, to 50 or more, the capital was reduced in December, 1894, to 650,0002. The bank has the exclusive right of issuing bank-notes — not exceeding S00,000Z. without the assent of the Persian Government. The issue of notes is on the basis of the silver kran. In virtue of one of the articles of the concession the cash reserve for the first two years was 50 per cent., and afterwards 33 per cent. The bank had the exclusive right of working throughout the Empire the iron, copper, lead, mercury, coal, petroleum, manganese, borax, and asbestos mines, not already conceded. There is also established at Teheran the Russian ' Banque d'Escompte,' formerly ' Banque des Prets de Perse ' (which is connected with the Russian State Bank and floated the loans of 1900 and 1902 to Persia); A concession for a National Bank was signed, February 6, 1907.

Communications.

By the Agreement of August 9, 1919, the British Government will operate with Persia in the construction of railways and other (onus of transport. In January, 1920, the Persian Government granted to the Persian Railways Syndicate (Ltd.) an option for the construction of a railway line from Khamkin to Teheran, via Kennanshah, Hamad an and Ka/viu, which was being surveyed in 1920.

A small railway from Teheran to Shah Abdul-azim (six miles) was opened in July, 1888, and is in the hands of a Belgian company, ' Societe des chemins de fer et tramways de Perse.' A Russian company has also constructed a railway from Julfa (Perso-Russian frontier) to Tabriz (opened March 7, 1916) 85 miles long ; and another from Pine bazar to Resht, 7 miles long. In southern Persia a military railroad, about 52 miles in length, has been constructed from Bushire to P.orazjan, in the direction of Shiraz. Tiw railroad from Quetta to Nushki, in India, has been extended to Du/.dab. Total railway mileage, 150.

The river Karunatthe head of the Persian Gulf has been opened to foreign navigation as far as A hwaz. J t is served ]>y a fortnightly steamship mfvio subsidised liy the llritish Covei niueiit.

Until 1903 the only carriageable roads in Persia were Teheran -Horn and Teheran-Resht, the former 91 miles, the latter about 220 miles, and on With mails and travellers were conveyed by carts. Since then good roads have been made from Tabriz to Julfa (Russian frontier), Kazvin to Hamadan, Meshed to Askabad, Kom to Sultanabad, and others. Mails and passengers