Page 494 - 6 Persian Trade rep BUSHIRE 2_Neat

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Tlir huge amount of gold exported to imlia and llio United J\ing-
doni- -Ivuprrs 8St)J)JU and Rupees 475,3(i() respectivoly—consisted
mostly of bars obtained from melting down ornaments. A con­
siderable quantity of this gold is believed to have come from Persia.
In recent months the flow of gold has greatly diminished. Kxports
of rice and cotton goods consisted mainly of transhipments to
Arabia, whilst pearls and specie were exported almost exclusively to
1 ndia.
Dunne the last few years small (plantities of shells have beer
exported to (Jermany and the United Kingdom. Dates are grown
on tin' island and on the mainland, but the supply is not large
enough or regular enough to make export on a large settle possible
Pearl Industry.—The main industry in Bahrain and the one upon
which the majority of the inhabitants are directly or indirectly
dependent for a livelihood is pearl fishing. For a number of reasons
this industry has fallen into a state of extreme depression during
recent years and no signs of improvement are as yet visible. In
the first place, economic conditions in Kurope and America have
led to a decrease in the demand for pearls with the result that
continental buyers no longer find it worth their while to visit
Bahrain every season a> they did in former years. Secondly, the
introduction of Japanese cultured pearls has had an adverse effect
on the market for natural pearls, and, thirdly, the quality of the
local catch has deteriorated, due perhaps to the fact that the pearling
beds have been overworked.
The depression in this main industry is reflected in the general
trade of the island and more particularly in the ancillary trades,
such as ship building and sail making.
The former demand for engines for installation in launches and
dhows has practically ceased.
The Bahrain Petroleum Company, Limited.—The loss of pros­
perity occasioned by the decline in the pearl industry has to some
extent been alleviated !»\ the employment which lias been given
at high wages to a. large number of the inhabitants hv the Bahrain
Petroleum Company, Limited. This Company, which is a sub­
sidiary company of tlie Standard Oil Company. Limited, of Cali­
fornia, made its first shipment consisting of some *25,000 barrels
of crude oil in June. 10-34.
Japanese competition in Bahrain.—Since January, 1034, four
Japanese steamers have arrived in Bahrain and landed cargoes ol
rice and cement. The latter is cheaper than British cement hut
inferior in quality. A cheap brand of Italian cement has
also been recently introduced. Provided the cost of British cement
is not too far in excess of that of its rivals, it should be able to
retain its hold on this market.
Japanese piece goods, mostly brought from Bombay and Karachi
by British steamers, have almost completely ousted piecegoods from

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