Page 249 - PERSIAN 8 1931_1940_Neat

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SECTION 7.
Manumission.
During 1934 the following number of slaves were manumitted
Bahrain Agency .. • • .. 19

Muscat Agency .. .. 31
Sharjah Agency .. 1

R. P. WATTS, Major,
Secretary to the Political Resident in the Persian Gulf.

SECTION 8.
Trade and Trade Facilities.
General condition.—The year under review was one of the worst as far
as trade conditions in Bushirc and district were concerned. The continual
reports of the stagnancy of the market show the great difficulty the merchants
had to face in their trade.
During the last few years owing to lack of statistics for Bushire it is diffi­
cult to express any idea with regard to the volume of trade both in Imports and
Exports. Although attempts have been made to obtain some sorts of statistics
for the annual trade report submitted to the Depratment of Overseas Trade
these will not help much because only the number of packages arc given with­
out the value both as regards Imports and Exports.
In view of the Iranian Government trade regulations in regard to import
licences, business gradually slackened and fell away throughout the year. In
fact trade in all staple goods is now placed in the hands either of a Govern­
ment Monopoly or syndicate, a few merchants-were able to join the syndicate
and the rest were not able to do any business with the continent except in iron­
ware, and sundry goods.
Part, of the sugar trade and matches still remained as a Government
monopoly and for other staple goods such as piece-goods, motor vehicles and
opium a syndicate was formed with a limited number of merchants as partners.
This Government attitude naturally caused a great decline in the import trade
of Bushire. Such methods on the part of the Government completed this down­
ward trend and even the biggest merchants in the town found their hands tied
at every turn by its regulations. No longer able to deal in sugar and other
goods it is difficult to sec what, is left for them to do except employ their capital
iu speculation to sundry goods.
As a result of the aforesaid difficulties Bushirc has become an entrepot for
upcountry markets and most of its needs arc now supplied from Tehran by
small dealers.
The Iranian Government seems to wish to take all the*main items of trado
into its hands and increase its revenue not only by imposing taxes but in obtain­
ing profits over the monopolised goods. In July 1934 they decided to control
and stabilize the price of export certificates by compelling merchants to sell
them to the National Bank at tho fixed rate of 9 per cent, and to buy at the rate
of 131 per cent., payment to be made by the bank after three months and the
transaction discounted if the merchant was in need of money before date. At
the end of the year the price of export certificates was however raised to 30
per cent, by the Government owing to the appreciation in the value of the silver
Rial and merchants were not issued with any import licences unless they sold
their export certificates as the fixed rate and then buy at almost double the
price at which he sold.
Up to the end of the year there has been no sign of any improvepient in
the market and the Government neither helped merchants to extend their trado
nor to overcwjne the stagnancy.
K