‘Report on the administration of the Persian Gulf Political Residency and Muscat Political Agency for 1885-86.’ [‎59r] (31/120)

RESIDENCY An office of the East India Company and, later, of the British Raj, established in the provinces and regions considered part of, or under the influence of, British India. AND MUSCAT POLITICAL AGENCY An office of the East India Company and, later, of the British Raj, headed by an agent. FOE 1885-86.
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PART III.
REPORT ON THE TRADE OF THE PERSIAN GULF The historical term used to describe the body of water between the Arabian Peninsula and Iran. FOR THE YEAR 1885.
Exports.
The rainfall in Southern Persia during the cultivating season of 1881-85 was unprece-
dentedly large, amounting to 29 inches. After great hopes
in the earlier months of a large harvest, the excessive rainfall
caused partial failure of crops of wheat and barley by rust. Exportation of grain was conse
quently prohibited by the Persian Government, and on this occasion very properly. The
price of bread rose to almost famine prices in Shiraz, and much distress prevailed there. This
was alleged, and is generally believed, to be owing not so much to actual scarcity of grain, as
to large quantities being stored up by influential officials as a speculation. Some wheat was
certainly imported into Persia from India; but the quantity was inconsiderable, and it was
thought that had the stores referred to been freely sold, any importation would have been
unnecessary. Distress in tire interior from dearness of food naturally depreciated piece-goods,
&c., and importers of Manchester goods sustained heavy losses; and trade generally throughout
South Persia has been much injured and depressed. Whether it will recover depends greatly
on the harvest of 1886, the prospects of which are at present (March) favorable.
Owing to the conflicting interests of the Custom House and the governing authorities^
much difficulty is experienced in preventing levy of export duty twice over on grain purchased
for British merchants at Bunder B.ig and Dilam and brought to Bushire. Refunds have oeen
obtained in most cases, but the evil is not wholly removed.
The opium crop was fairly good, and at the opening season was in good demand, but
owing to a decline in the China market, the demand up-
Opmm and Tobacco. country fell away, and the remainder of the crop commands
lower prices fqr the London market.
Quantity of Persian opium of 1885 is somewhat inferior to that of 1884.
Tobacco was exported in fair quantities.
Imports.
The year 1885 was very unfavorable to importers in Southern Persia. Could they have
foreseen the course of events, their operations would have
Manchester goods, greatly restricted and heavy losses avoided; as it was, the
quantity of goods imported was as large as the previous year. For at the beginning of the
vear there was a good demand for Manchester goods, and Persian merchants contracted freely
with importing houses at Bushire for forward delivery. Later in the year the rise in the price
of bread caused a corresponding fall in Manchester goods, and these have been selling at a loss
to importers. The market being thus overstocked, there will probably be a great decrease
in this trade in 1886. A good deal, however, depends on the result of the wheat harvest.
Another source of loss to importers was the steady decline in the value of silver ; those
who speculated on a rally of the rupee must have suffered. At present the pound sterling
equals 34 krans against 27 krans a few years back.
The decline in value of copper in the home market induced many native dealers to
speculate in that article, which, however, fell in Persia also, and
Coi)per ' has never been known to be cheaper than at present.
The once brisk trade with Java in sugar finally ceased in 1885, being supplanted by
Mauritius and beet sugar manufactured in Europe. The French
sugar was backed by bounties, but is now suffering from
competition of German loaf-sugar manufactured chiefly in Itzhac in Holstein. This sugar is
being sold in Persia 5 or 6 per cent, cheaper than French sugar, whilst it is equally valued.
It is to be remarked that the importation of French sugar is increasing at Bunder Abbass,
and a Russian firm of Marseilles has established an agency An office of the East India Company and, later, of the British Raj, headed by an agent. there.
The attempt to work the naptha springs at Daliki mentioned
Resources. re p 0r ^ abandoned.
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