Page 296 - PERSIAN 4 1899_1905

12 ADMINISTRATION REPORT ON THE PERSIAN GULP POLITICAL

Part III.—TRADE REPORT OF THE PERSIAN GULF FOR 1001.
'Control.
The improvement in trade, both in import and export noticed in last year’s
report, soon declined owing lo the partial failure of crops caused by the insuffi­
cient rainfall, and the year under review has not been a favourable one for trade
operations.
Import*. Although the statistics show a considerable advance in the extent of
imports over the previous year, the result cannot he said to have been due to
the transactions in any particular class of goods having proved remunerative, hut
rather to ovcrspcculation encouraged by some firms who allow long credit
indiscriminately to traders of little or no means.
The total imports into Bushirc during the year, excluding specie, amount to
Rs. 2,01,70,511 or an increase of Rs. 10,22,229 on the previous year. The imports
into Lingah also show an increase of Rs. 16,30,614. The increase is noticeablo in
almost every article imported into Bushirc, specially in cotton piece-goods,
glass and glassware, hardware and cutlery, kcrosinc oil, provisions and tea, all
of which show an advance of over 50 per cent. Indigo shows a heavy decline of
nearly two lakhs of rupees. Other articles showing more or less decrease are
gold-lace and thread, metals, porcelain and chinawarc, loaf and soft sugar
and woollen goods. The class of goods which show an increase in imports into
Liugah are yarn and twist, drugs and medicines, kerosine oil, provisions, loaf
and soft sugar, tea and woollen goods.
Exports. The exports from Bushirc declined by Rs. 14,27,401 which is made up by a
decrease under all the principal articles exported from this port. The only
articles which show an increase arc horses, hides and skins, rose-water, tobacco
and wool. The exports from Lingali improved by Rs. 13,15,735, the chief items
being pearls and shells, the former of which alone records an increase of
Rs. 12,03,000 and the latter of Rs. 41,000.
Harvest. Owing to a scanty rainfall, the grain and other crops failed to the extent of
about 50 per cent, and famine prices had actually to he paid for bread stuffs,
llad it not been for tlio partial relief which was afforded by the abundance of
fisheries in the Gulf and the plentiful ness of the date crop in Turkish Arabia,
the effect on the poorer classes would have been most disastrous. No shipments
of wheat were made to the United Kingdom during the year, prices on this
side being far too high. Towards the close of the year the embargo was
rcimposed and prices rose still higher aud large quantities of grain were imported
from India.
Exchange. Sterling exchange rates varied between krans 53 per pound sterling in
January and March and krans 55 in September and December. Rupee exchange
was lowest in May at krans 35G;V per Rs. 100 and highest in December, when it
reached krans 307-J per Rs. 100. Bar silver to the valuo of over Rs. 30,00,000
was imported into Bushirc during the year for transmission to Tehran and specie
to the extent of four millions krans (Rs. 11,42,357,) was sent up-countiy by
caravan.
Currency. The introduction of the nickel tokens mentioned in last year’s report has
had a very beneficial effect on the currency of the country and the complica­
tions arising from the debased copper currency in the ordinary market transac­
tions, have been finally removed. The only copper coin now^ seen ui‘the
market is the 2-shalii piece which is now' accepted for -i-shahi. The old •$-
shahi and 1-shahi pieces have entirely disappeared. The old silver coinage lias
also been withdrawn with the exception of J-kran pieces which are still in
circulation. The silver coins now current in the market are the 2-kran and l-
kran pieces minted by the Imperial Bank of Persia.
Specif. The total amount of treasure imported into Bushiro was Rs. 43,01,601 or '
increase of Rs. 14,24,007. The principal countries which contributed to
increase arc United Kingdom 11s. 30,00,000, Turkey Rs. 9,60,926 and Persian
ports Rs. 3,17,687. The specie imported into Lingab was Rs. 26,1^,000
increase of Rs. 7,06,000. In the export of specie from Bushirc there
decrease of Its. 6,22,930, whilo from Liugah there wTas an increase of Rs. 0,7 *