Page 49 - PERSIAN 4 1899_1905

RESIDENCY AND MASKAT POLITICAL AGENCY FOR TUB YEAR 1809-1900. 41
I

Part III.—TRADE REPORT OF THE PERSIAN GULF FOR
1899.

general remarks.
Trade, generally Bpeaking, was stationary during the year 1899. It
certainly was an improvement on that of 1898, but the improvement was not iib
great as was at first anticipated, owing to failure of rain during the later part
of the season. The trade of these parts depends principally on the amount of
the rainfall, as a good rainfall stimulates export of cereals and the consequent
import of foreign goods. Sufficient rain has fallen this year everywhere, and
an abnormal harvest is expected.
Prices of food-stuffs were from 30 to 40 per cent, less in the year under
report than in 1898.
Although the harvest for the year 1899 was much better than those of
tbe last few years, the embargo on the export of grain continued throughout
the year. The prohibition has been detrimental to British firms, as, while
natives are able to evade it under one pretext or another, Europeans are
absolutely forbidden to buy or even to remove grain from one place in Persia
to another. It is hoped that this unnecessary restriction will be removed
during the current year.
Currency.—Reference was made in last report to the debased state of the
currency of the country. The inconrenience to which merchants were put on
account of the unsatisfactory state of the currency has disappeared, to some
extent, owing partly to the partial withdrawal of the objectionable and illegal
notes called “ Bijecks ” which a native company had put into circulation in
Bushire, in contravention of the monopoly granted by the Persian Government
to the Imperial Bank of Persia.
Customs House.—The management of, and arrangements for the protection
of, merchants’ goods at the Customs House unfortunately continue unsatisfac­
tory, but frauds and robberies have diminished since the puuishraent of the
culprits involved in the fraudulent jettison of cargo S.S. Farran in 1898.
MISCELLANEOUS.
Exchange.—During the year 1899 fluctuations occurred in sterling
exchange between the rates of 55 krans per pound and krans 52} per pound
for bank paper. It touohed its highest point in March and its lowest in
August. The fluctuations have at no time during the year been at all violent.
Rupee exchange has varied between krans 3*65 per rupee, at which it
stood at tbe end 'of the year, and krans 3*45 per rupee for bank paper.
Rupees in silver have fluctuated between the same limits.
Specie.—Considerable quantities of rupees, sovereigns, Turkish pounds,
Austrian dollars, aud other coins have been imported, and exported from and
to Aden, Bombay, Arabian and Red Sea ports. No reliable statistics under
this head are unfortunately available, but the quautity which has oome under
notice amounts to Rl,10,92,900=£739,527.
In addition to the above, bar silver to the value of about £60,000=>
R9,00,000 has been imported into Persia via Busbire during 1899.
Mule-hire.—The rear opened at krans 100 per 100 maunds (775Jbs) and
rates were steady till the grazing season commenced, when a fall to krans W
took place. This was followed by a rise to krans 90 during ApnUnd May,
after which a gradual decline took place, rates touching krans «, m July.
From this period to the end of the year the highest figure was krans 76 per
100 maunds of 775Ibs. ,
Freight.-The year opened with a quotation of 22.. W.per tornto London.
It gradually rose during the year, anc stood at 2b 3. m December 1399.