Page 102 - Records of Bahrain (3) (ii)_Neat

510 Records of Bahrain

2255

The statistics for the year 1905-0G were as follow

Kb.
Bahrain 86,500

Masqat 75,000
Ling eh 12,119

giving a total value, at the present rate of exchange, £11,572 sterling.

The fluctuations in the mother-of-pearl trade appear to depend
chiefly on irregularities of demand, for supply can be assured so long as
prices are good. In December 1891 the Shaikh of Bahrain conferred a
monopoly of the shell export trade in his dominions on a British firm at
Bushehr; the protests of Bahrain merchants soon caused him to revoke
the concession, but lie substituted for it, at first, a duty so heavy that
it was feared the trade might be extinguished. In 1892-93 large
quantities uf inferior shells from the Persian coast were exported,
with the result that in the following year there was no demaud in
Europe and the prices of shells fell very low, and in 1894-95 shells
became almost unsaleable j but in the next year the market began to
recover. In 1S9S-1899 there was a strong European demand, which led to
speculation in shells and to the exportation of shells of bad quality, followed
in ] 899-1900 by heavy losses among Gulf merchants engaged in the trade.
Prices were poor in 1900-01, and in 1901-02 the European market
was still overstocked. In 1903-04 the trade underwent a sudden develop­
ment in Bahrain in consequence of the local operations of Herr
■\Vonckhau6, a German merchant.

I