Page 196 - PERSIAN 4 1890_1899

so ADMINISTRATION RETORT ON 71IE PERSIAN €U.LP POLITICAL

very low. A fresh outlet has, however, been found for this branch of trade.
Since the introduction of the Mackinlcy Tariff, an important industry in button­
making has sprung up in the United States, and largo quantities of Persian
shells have found their way there.
Gum.—The yield of 1893 was excellent, but the high prices ruling locally
left but a small margin of profit to tho exporter.
Wool.—The wool export of 1893 was not large, and was of inforior quality.
Carpets.—There has been a striking development of tho carpet industry
during the year, and exports have boon extensive. Shipments were made chiefly
to Europe and Egypt, where good prices wore invariably obtainod.
Cotton.—Tho swarms of iocuEts that appeared and ravaged the cotton-fields
soon dispelled any hopes that might have been indulged in, early in tho year, of
a really plentiful crop. The yield was, howevor, larger than might have been
expected under the circumstances, and exports were heavier than in 1892. It
is reported that Ispahan cotton has commenced to find a good market in Russia,
and the cotton trade with Russia, it is believed, might be made to assume con­
siderable proportions.
Miscellaneous.
Exchange.—There was a steady rise in the rate of exchange throagbout tho
year, the value of the £ sterling varying from Kraus 10 at tho commencement
of the yc-ar to Krans 47 at its close.
Freights.—During 1893, freights ruled very low; they varied from 17/6
to 25/ per ton.
The unfavourable prices ruling in the European grain-markets at the com­
mencement of the year, and the subsequent embargo on the export of wheat
from Persia, caused a sensible diminution in the demand for tonnage, and the
number of steamers entering the port of Bush Ire during the year shows a de­
crease of 11 when compared with the figures for 1892.
Petroleum.—The winding up of the business of the Imperial Bank Mining
Rights Corporation was announced early in the year, resulting from the want of
success attending their boring operations at Daliki and on the island of Kishm.
Zlzile hire.—The rate at the commencement of the year was 80 Krans per
100 Tabriz maunds from Bushire to Shiraz. In March it fell to 37} Krans for
the same distance, and with some fluctuations rose to 56 Krans, at which figure
it stood at the close of the year.
PRED. A. "WILSON, Colonel,
Consul-General.