Page 441 - PERSIAN 4 1899_1905

RESIDENCY AND MA8KAT POLITICAL AGENCY FOR THE YEAR 19CS-JLD03. 35

Part IV.—REPORT ON THE TRADE OP TIIE BAHREIN ISLANDS
POR THE YEAR 1902.
The considerable decline in the fimires for some of the principal articles of
trade may be explained by the insecurity of the caravan routes to Al llassa and
Ncjd throughout the last quarter of 19ul and the following five months, during
which period all trade between Bahrein and those districts was stopped# Cotton
piece-goods were seriously affected, and the local market was overstocked owing
to tho merchants holding over a large number of bales which were imported at
the latter end of 1901 for the Al Hassa trado.
The improvement in tho condition of the islanders and the influx of Persian
settlers during the past two years are creating a demand for a better class of
prints, woollen cloths, cheap velvets and silks. Gold thread and lace of conti­
nental manufacture of medium qualities are in demand.
The trade in coffee shows a decided increase notwithstanding tho unfavour­
able conditions prevailing in the Al Hassa district during the past year. The
improvement is due to the cheap Brazilian coffee imported, which has brought
the article within tho reach of the poorer classes. "With the fall in price a
larger consumption on the Arabian side of tho Persian Gulf may be anticipated,
and British firms aro recommended to turn their attention to tho possibilities of
tho commodity.
Tho pearling operations were a success as far as the divers were concerned-
But the same cannot be said of the dealers who have suffered losses from 15 to
20 per cent, on their transactions. The quantity obtained was less than the
preceding season by about 8 per cent., and keen competition between the dealers
drove up prices 30 per cent. It is not expected, however, that the losses
experienced by the dealers will seriously affect the general trade for the current
year, owing to the fact that the high prices received by the divers for their
pearls have improved their spending powers.
The shell transactions show a large fall. This is duo to a large quantity of
shells having been taken by sailing craft direct to Bushire, which offered better
facilities fur shipment to Europe, and for want of transport about 600 tons
remained in stock at the close of the year.
The advantages of tliis trade, as well as of the general business to be done
in Bahrein, appears to be better appreciated by foreign trading houses than
British merchants. The French firm of M. AC. Dumas and Guion of Marseilles
lias recently opened a branch office. It is hoped that some energetic British
firm will realise tho importance of this growing trade and will endeavour to
obtain a sharo in it before it is too late.
The stability of the Indian rupee is boing appreciated by the Arabs, and the
circulation of the Maria Theresa dollar consequently is decreasing. Largs
profits on the latter coin can no longer he made. The exchange in the two
coins closely followed the Bombay market prices plus freight and interest. At
tho end of the year the dollar stood at Rs. 120 per 100,
Exchange transactions with Europe are arranged principally through
Bombay Banking houses and in some instances through Bushire, the rates are,
therefore, much higher than thoso obtaining at ports where Banks exist.
The building of a stono pier is under consideration, and when it is completed,
tho shipping will have little cause to complain about tbs arrangements for dis­
charging tho:r cargoes. To meet recurring oxpendituro required for tho up-
kcop of the pier, fees will bo charged on all exports and imports.
Steamers for Europe will generally bo able to obtain shells when calling
here for cargo in tho last quarter of the year, at rates 10 shillings in advance of
thoso offering at Bushiro. Also at about tho same season dates for the jted $e&
ports aro obtainable.
J. CALCOTT GASKIN,
Assistant Political Agent.
Bauuiv,
Tie 9U Harsh Wl