Page 133 - PERSIAN 2C 1890_1899_Neat

Part lit.—REPORT ON THE TRADE AND COMMERCE OF SOUTH­
ERN PERSIA AND MOHAMMERAH FOR THE YEAR 1892.

General Remarks.—The marked decline in the trade of the ports of
Southern Persia for the year 1892, as compared with that for the preceding
year, may be chiefly attributed to three causes, viz., the glutted state of the
markets owing to the accumulation of stock referred to in last year’s report, the
failure of the crops occasioned by a scanty rainfall, and the decline in the
value of silver. Minor considerations assisted in rendering the commercial
state of affairs still more unsatisfactory. A rebellion of the Baharloo Arabs
has considerably interfered with the trade of Bander Abbas both by re­
ducing the receipts of the people, and by preventing the transit of goods to and
from that port. The Tobacco Corporation not only disturbed the amicable
relations previously existing between Europeans and Persians, but made it
impossible for native merchants to do the usual lucrative trade in this article,
and added to this, previous losses by failures of Persian merchants bad shaken
credit, and the European firms considerably reduced their transactions in this
line of business. The had harvest too not only aliected the export trade and
consequently the shipping interest in reducing the demand for freight, but also
considerably diminished the purchase power of the districts affected. At the
beginning of the year there were heavy stocks of all kiuds in the interior.
While these were being worked off exchange went from bad to worse, so that
on nearly every transection the profits on the sale were made away with by the
loss in exchange. It was impossible to rectify this by raising prices in propor­
tion to the fall in silver for the Manchester markets were quoted lower every
week, and importers preferred selling in the hopes of replacing their stocks
later on at reduced prices. Towards the end of the year, however, a decided
improvement set in. Advices from America gave higher quotations for cotton,
and there was a sharp rise in Manchester. Prices here then steadily rose, and
most people have been in a condition to recoup the losses previously sustained.
The growing influence of the Mullahs has not been without its effect upon
commerce. It is reported from Ispahan that the inhabitants applied to them
for protection against what they considered ill-treatment on the part of European
firms when the latter raised the prices of their goods. Meetings of the Mullahs
and merchants were held and matters were eventually arranged between them.
One cause, calamitous as it was for the districts concerned, has operated
favourably for the trade of the southern ports. The epidemic of cholera, dis­
organising trade in the north of Persia and hindering communications along
the routes affected, ha9 caused the wants of Tehran and places further north
to be supplied hv imports through Bushire.
It is hoped that the depression of trade is temporary only, and that the
causes are mainly local, for the figures of the Bahrain trade and the returns
°f the principal articles of export and import of the ports on the Arab coast of
the Persian Gulf for the past year show an increase in the commerce done there.
rlhe outlook for the trade of 1893 is encouraging. The rains have been good and
they have commenced early, and thus enabled a larger area of land than usual
lo bought under cultivation. At the time of writing, the local harvest is
reported to have been the best that the country has seen for the last sixteen
years.