Page 176 - PERSIAN 4 1899_1905

24 ADMINISTRATION REPORT ON THE PERSIAN GULP POLITICAL

industry brings into tlio country nearly six lakhs of rupees annually, and is
capable of oxtonsivc development if proporly conducted.
'Exchange.—The exchange at the beginning of tbo year was G4 krans por
£1 sterling, and remained at that figuro with slight fluctuations till August,
when it gradually rose to 51 krans, at which it remained till the end of thoycar.
Rupee exchango fluctuated during the year between krans 3G5 and 315 per hun­
dred rupees. It reached its highest point in January and the lowest in August.
Currency.—The debased state of the currency, which was causing much
inconvenience and confusion in mercantile transactions, has been remedied to
some extent by the partial withdrawal of all tho bad krans of the old minting,
of which, however, there are some still lingering in the markot and are taken by
tho Jews at a heavy discount. Tho chief coins which are now circulated in the
bazar arc 1-kran and 2-kran pieces, minted by tho Imperial J3ank of
Persia, and 1-kran piece bearing the name of Amir Slier Ali. Arrangements
arc being made to withdraw the old copper coinage and to introduco in lieu
nickel tokens representing 1-shahi and 2-shahi pieces, which have been
minted in Belgium and of which more than a lakh of rupees* worth have been
already imported. The progress iu the circulation of these coins will be noted in
the next year’s report. In this connection it may he noted that under the old
copper coinage the coins in circulation were J-shahi, 1-shahi and 2-sbabi pieces,
a kran being equal to 20 shabis. But during the last seven or eight years these
copper pieces underwent such violent depreciations that forty 2-shahi pieces,
instead of ten, were taken to be worth a kran. This state of uncertainty which
caused such endless complications in the ordinary market transactions, will at
last, it is hoped, cease by the introduction of the nickel tokens,
Specie.—No reliable statistics of specie can be given, as, besides the steam
ship companies, a large quantity of rupees, Turkish pounds, dollars, etc., are
carried by native craft to and from Maskat, Zanzibar, Bahrein and tho Indian
and Persian ports, for which no statistics arc available. Those which aro given
in the tables of exports and imports are compiled from the manifests of the
steamship companies in Bushire and elsewhere. The total amount of treasure
imported into the ports of Bushire and Lingah was Rs. 46,83,651, or an increase
of Rs. 13,S4,9S9 over the previous year. Of this amount Bushire imported
Rs. 28,77,654, or Rs. 15,79,959 more than in 1899. The countries which chiefly
contributed to the increase in Bushire imports were United Kingdom
Rs. 15,29,875, India Rs. ’ ,45,897 and Turkey Rs. 18,020. The countries from
which imports into Bushire shew a decrease are Maskat Rs. 18,900, Bahrein
Rs. 7,200 and Persian ports Rs. 87,103. In Lmgah the treasure imported
daring the year was Rs. 18,06,000, or a decrease of Rs. 1,95,000. The imports
from all the countries which usually deal with Lingah shew a decrease with
the exception of Maskat and Arab Coast which sent Rs. 40,500 and Rs. 1,15,500
respectively more than in tho year 3 899. The export of treasure from Bushire
and Lingah wa9 Rs. 34,59,685, or an increase of Rs. 3,66,985 on the figures
of last year. Bushire shews an increase of Rs. 6,45,465, while Lingah shews a
decline of Rs. 2,78,480. India took the largest share of the specie exported
from Busbire, viz., Rs. 8,21,150, thus improving the figures .of last year by
Jt8. 4,74,905. Bahrein comes next with Rs. 3,12,000 as against Rs. 7,395 in
the last year. The exports to both Turkey and Persian ports also show an
increase of Rs. 22,275 and Rs. 1,230 respectively over the figures of the previous
year. United Kingdom this year took Rs. 46,500 from Bushire.. But Maskat
took Rs. 4,050 less than last year, which explains the decrease in the export
trade from Bushire to that country. The export of treasure from Lingah to
almost every country which used to receive a considerable share of it has
declined this’year over the last to the extent shewn against the countries noted*
below
Rs.
India 1,26,000
Bahrein • 4,600
A rob Coaat 2,01,000
But there was an increase to Turkey of Rs. 20,500, to Maskat of Rs. 7,020
and to tbo Peraian ports of Rs. 24,600.
I