Page 715 - PERSIAN 8 1912_1920_Neat

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FOB THE YBA.B 1019.
brought under the Sultan’s effective control. The situation w, however,
complicated by the hostility of the Imam in interior Oman and of tbe anciKU
of Bireimi. There are demands for slaves in both of these places and once there,
the possibility of getting them out or of bringing pressure to bear is small.
The traffic is, however, very small and a certain proportion of slaves manage
to escapo.
Total imports amounted to Rb. 43,49,471 and export B^36*8^42^*
Trade. 2 i,68,978 respectively, of the previous year.
It must be remembered that these figures only inaccurately represent Muscat
and Muttrah. Sur has 80 trading dhows which make an average profit of
Rs. 10,000 per year eacb, and there are numerous poits on the Bafcineh Coast each
with its colony of Indian merchants and by no means insignificant trade. Nq
record is available of this trade and it must be fully half as much as that of
Muscat and Muttrah.
The price of dollars continued high, the average prices for the year were
as follows:—
Fb.
January a32 per 100 dollars.
February 232 ditto.
March 234 ditto.
April 254 ditto.
May 239 ditto.
Jure 248 ditto.
J uly 250 ditto.
Augost 237 ditto.
Septemler 258 ditto.
October 252 ditto.
November 254 ditto.
December 256 ditto-

On 1st October, His Highness the Sultan issued a proclamation to the
effect that from 1st January" the rate of exchange would be fixed at Rs. 2
to the dollar. The merchauts who have dealings with the interior where only
dollars are accepted, were much perturbed. Tho Sultan, however, when the
situation was explained to him soon realised that his proclamation was
impossible to enforce and withdrew it on. the advice of the Political Agent.
The limited amount of dollars in the country, the- natural variations in
exchange caused by the demand for dollars in the date season or the demand
for bills on Bombay to make payment for rice, and the absence of a State, hank*
alike, make arbitrary fixture of the rate of exchange an impossibility.. Thafr
there are disadvantages in th«. presont double currency and in vlhe variations in
the rates of exchange are obvious. At the same time/ the past war experience
of other and more advanced countries have shown the impossibility of
fixing the rales of exchange, and it is doubtful if variations in exchange
have such a serious effect on trade as were once supposed. Rupee currency
will gradually replace dollar currency with the increase of trade and
the opening up of the country. This process may be left to the people them­
selves, and an immediate attempt at change can only bring disaster.
Considerable trouble has been caused in the latter half of the year by the
restriction on the export of rice from India. Information as te the sanctioned
amount allotted invariably arrived very late and. the amount was usually
inadequate. The instance may be quoted when the whole of Muscat and
Oman, with a population of between half a million and million livin® almost
exclusively on rice, received a quarterly allotment of 250 tons. A condition
of chrome shortness of supply prevailed, with the result that prices soared and