File 523/1912 Pt 1 'Persia: Imperial Bank: mint contract' [‎42r] (79/386)

; 142360)
THK UvIPEKIAL BAliK OF rEBSIA,
25, ABCBUBCH LAFE,
LOEIiOIm, E.G.
21st duly, 1916
With reference to your letter I\io.W. 136429/16, of
the 15th duly, I am desired to forward for your informa
tion the enclosed Memorandum of the conversation which
took place last Tuesday between My hoard and M. doseph
Heymann, one of the Directors of the hanque d f Escompte
de Ferse.
2. m. heymann professed to be greatly concerned
about the difficulty experienced in providing rersian
currency for the pay of the itussian troops in Persia, rie
held that it was imperative that an immediate remedy for
this difficulty should oe found, and as a solution - the
only solution he was at all v/illing to consider - he
wished to renew the proposal that as a temporary measure,
the Russian Government should be permitted, with the
aid of a British credit, to purchase silver to the value
of five million Tomans 10,000 Persian dinars, or a gold coin of that value. (£1,000,000) and coin it in
London or Petrograd into Krans for use in Persia.
3. This proposal, to which we entertain the strong
est objection, was, it will be remembered, put forward
by the Russian Government in March last (vide your letter
Do.59342/16, dated 4th April), probably at the instance
of the Russian Bank, in whose interest it was manifestly
conceived. But it will also oe recollected that in their
Memorandum and Aide Memo ire forwarded to us with your
letter of the 26th May and endorsement of 3rd dune, the
Russian Government definitely and delioerately discarded
the
The Under Secretary of State,
Foreign Office.