Page 565 - PERSIAN 2B 1883_1890_Neat

RESIDENCY AND MUSCAT POLITICAL AGENCY POR 1888-8& 20

Banking Agenda,
A remarkable feature in the history of Persian trade was the establishment
of hanking agencies in Persia in the year 1888. A branch of the New
Oriental Bank Corporation has been established in the capital, and another In
Busliiro. It is thought that this measure will supply a much-felt want and
tend to the advantage of trade interests.
Opening of the Karun River to Navigation.
The most important event of the year was undoubtedly the consent of the
Persian Government to throw open the River Karun, as far as Ahwaz, to vessels
of all nationalities. The ulterior object is of course to develope the shorter route
for traffic between the sea and Central and Northern Persia, and at the same
time to open up to trade the grain-growing districts contiguous to that route.
The project in itself is feasible and promising, but its success must largely
depend on the measures adopted by the Persian Government to improve roads
and secure their safety, to remove undue restrictions and taxation and allow
commerce fair play generally. The route was promptly inaugurated by
Messrs. Lynch <$' Co. running their Steamer Blosse Lynch between Bus rah
and Ahwaz experimentally. The arrangements for traffic above the bund of
Ahwaz are hitherto unsatisfactory, and organization is required. Persian
merchants of Shiraz Lave taken alarm at the inauguration of a new trade
route which, they represent, will injuriously affect that town. The success of
the Karun route will doubtless cause some redistribution of trade in Persia,
but it may sifely be predicted that the general prosperity of the country will
be increased, and there is no good reason to suppose that the Province of Pars
will su£er exceptionally.
Pearl Fisheries,
The pearl-diving season of 1888 was successful. Pearls were exported
from Bahrain and the Arabian Coast of the Persian Gulf to the value of about
fi 00,00,000, being abont R10,00,000 in excess of the export in 1SS7.
La this rough calculation the exports from Lingah are not counted, as the
yidM of the Arab Coast and Islands is mostly included in the Lingah exporta­
tion.

E. C. ROSS, Colonel,
Political Resident in the Persian Gulf.