'Persia. Handbooks prepared under the direction of the Historical Section of the Foreign Office - no 80' [‎24r] (54/164)

8
Persia] NATIONAL MOVEMENT 41
*
and, though still relatively small, had involved the
mortgaging to Russia and England of several
important sources of revenue, such as the Customs;
tliis in turn had to a certain extent introduced
foreign (notably Belgian) control. Measures were
taken by the new Persian Government to diminish
expenditure, increase revenue, and put the finances of
the country on a sounder basis; and to raise such loans
as were meanwhile urgently required without further
pledging Persia's natural resources to foreign
Powers, or giving fresh opportunities for external
political intervention. Various attempts were made
in this direction by way of internal loans (May, 1910),
external loans from private firms or syndicates (May-
October, 1910), and the pledging of the Crown jewels,
valued, it was said, at £750,000 (March-October,
1910). All of these plans, however, were brought to
naught, chiefly by Russia's action, which aimed
throughout at compelling Persia to borrow money
only from her and from Great Britain, and only at the
price of fresh concessions incompatible with Persian
independence. 1
The most urgent need of the Persian Government
was now, as recognised by their most enlightened
statesmen, for disinterested foreign advisers and
officers to help them in organising their finance and
the new Treasury gendarmerie, essential for collecting
the revenues and maintaining order; and in January,
1911, after several vain applications to other Powers,
America consented to supply the former and Sweden
the latter. Mr, W. Morgan Shuster and the other
financial advisers lent by the United States landed in
Persia on May 11, 1911, and at once set to work with
energy on their task. After a brief examination of the
state of affairs Mr. Shuster informed the Persian
Government that he could do little for them unless he
1 Thus the Anglo-Russian Loan of £400,000, proposed on Feb
ruary 10, 1010, was rejected on this ground on April 10 of the same
year.