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File 2410/1903 Pt 3 'Persia:- Financial Situation. Loans.' [11r] (26/1214)
The record is made up of 1 volume (605 folios). It was created in 23 Jul 1907-3 Jul 1910. It was written in English and French. The original is part of the British Library: India Office The department of the British Government to which the Government of India reported between 1858 and 1947. The successor to the Court of Directors. Records and Private Papers Documents collected in a private capacity. .
Transcription
This transcription is created automatically. It may contain errors.
Section 3 .
[ 21587 ]
No. 1.
^ Foreign Office to Treasury.
^ t a i\/r j- 3 i n . Foreign Office, June IS, 1910.
^ clirected by Secretary Sir Edward Grey to refer to my letter of the 19th
February, setting forth the conditions on which His Majesty’s and the Russian
jO\ernments had decided to comply with the request of the Persian Government for
the advance of a sum of 400,000L, and to the last paragraph of my letter of the 21st
April, stating that the question of making this advance was indefinitely suspended.
1 am to state that on the 23rd ultimo His Majesty’s charge d’affaires at Tehran
reported by telegraph that Nasr-ul-Mulk, a prominent Persian statesman not at present
a holder of office in the Persian Government, had, in conversation, reverted to the
question of a joint advance by the two Powers, and that he himself and the Russian
Minister had already receive^ vague intimations that financial assistance in this form
would be welcome to the Persian Government.
Nasr-ul-Mulk had stated that the Persian Cabinet had come to realise the necessity
of solidarity and of friendly and intimate relations with the two Powers, and to under
stand that the conditions attached by the latter to the advance on the last occasion
when the question had arisen, which had alarmed public opinion and caused the
rejection of the offer, were formulated as a defence of the lenders’ interests, and did not
indicate the existence of any designs on their part against Persia. The Persian
Government had since satisfied the two Powers on one of the points insisted on in the
conditions and were about to do the same on another, viz., the engagement of European
experts as advisers to the Persian Ministry of Finance. They were in serious need of
money, and had practically pledged themselves not to obtain it except through the two
Powers, to whose assistance they had therefore a strong moral claim.
Mr. Marling further reported that the Persian Minister of Finance had had a long
and friendly conversation with the Russian Minister on the same subject, and that the
two representatives were agreed that a very perceptible change had recently taken
place in the attitude of the Persian Government towards the two Powers, and were of
opinion that it would be unwise to neglect the opportunity offered of gaining the
confidence of Persia by giving a tangible proof of the friendly feeling of Great Britain
and Russia towards that country.
Mr. Marling accordingly suggested that, provided that foreign financial advisers
were engaged, the two Powers should make the advance without further conditions,
except such as might be necessary to furnish security for its service and repayment in
the event of the flotation of a subsequent larger loan. He was of opinion that such a
step would inspire confidence and give stability to the present Persian Cabinet.
Sir E. Grey, who shared the view expressed by Mr. Marling, accordingly addressed
on the 25th ultimo a telegram to His Majesty’s Ambassador at St. Petersburgh,
instructing him to ascertain the views of the Russian Minister for Foreign Affairs on
this proposal, and to inform his Excellency that His Majesty’s Government, being of
opinion that the two Powers should do all they could to encourage the friendly overtures
of the Persian Government, were prepared to provide their share of an advance of
400,0001. without conditions, provided that the Russian Government would agree to do
the same.
The Russian Government have now signified their acquiescence in this proposal,
but no formal request for the assistance required has yet been received from the Persian
Government ^ latter point) Mr. Marling reported by telegraph on the 16th instant
that their reluctance to apply for it was in a great measure due to the belief that they
could obtain the money from other private sources on easier terms than from the two
Powers, and that the latter could not object to their having recourse to the quarter
indicated for that purpose. . . t. ... i • . . •
Such a course would be, for various reasons, detrimental to British interests m
Persia, and Mr. Marling suggested in the circumstances that the two I owers, m ordei
to convince the Persian Government of their desire to assist them, should reduce to
[2781 s —3] ^ a
¥
About this item
- Content
The volume comprises correspondence, despatches, memoranda, notes and reports on the financial situation in Persia and the possibility of a joint Anglo-Russian loan to the Persian Government. The terms of the joint loan, including financial reforms which would have to be undertaken by the Persian Government, are discussed in detail.
Included in the volume are summaries of the financial situation from 1903 onwards, records of the loans made to the Persian Government in 1903 and 1904 and repayments made against them, and discussion on the Persian Government’s difficulties in paying their debts. Also discussed is a request from the Persian Government in 1910 for a conversion loan from the Imperial Bank of Persia in order to consolidate their debts.
The principal correspondents are the Secretary of State for Foreign Affairs (Sir Edward Grey), the British Minister in Tehran (Sir Charles Murray Marling, Sir George Head Barclay) and the British Ambassador to Russia (Sir Arthur Nicolson), along with representatives of the India Office The department of the British Government to which the Government of India reported between 1858 and 1947. The successor to the Court of Directors. , Foreign Office and Treasury.
Other correspondents include the Russian Imperial Minister for Foreign Affairs (Count Alexander Petrovich Izvolsky), the French Financial Adviser to the Persian Government (Eugène Bizot) and the Belgian Administrator-General of Persian Customs (Joseph Mornard).
The correspondence from the Government departments from May 1910 onwards contains a thick black border according to official mourning protocol following the death of King Edward VII on 6 May 1910.
The volume is part 3 of 4. Each part includes a divider which gives the subject and part numbers, year the subject file was opened, subject heading, and list of correspondence references contained in that part by year. This is placed at the back of the correspondence.
- Extent and format
- 1 volume (605 folios)
- Arrangement
The papers are arranged in approximate chronological order from the rear to the front of the volume.
The subject 2410 (Persia Loans) consists of 4 volumes, IOR/L/PS/10/8-11. The volumes are divided into 4 parts with each part comprising one volume.
- Physical characteristics
Foliation: the foliation sequence commences at the inside front cover with 1, and terminates at the inside back cover with 605; these numbers are written in pencil, are circled, and are located in the top right corner of the recto The front of a sheet of paper or leaf, often abbreviated to 'r'. side of each folio.
- Written in
- English and French in Latin script View the complete information for this record
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Copyright: How to use this content
- Reference
- IOR/L/PS/10/10
- Title
- File 2410/1903 Pt 3 'Persia:- Financial Situation. Loans.'
- Pages
- front, back, spine, edge, head, tail, front-i, 2r:4v, 5v:12v, 13v:43v, 46r:59v, 61r:69v, 70v:83v, 84v, 85v, 86v, 87v, 88v:98v, 101v, 102v, 103v, 108r:109v, 111v, 112v, 114r:114v, 115v, 116v, 117v:120v, 123r:135v, 136v:137v, 140r:140v, 142r:160v, 161v, 165r:202v, 203v, 204v:251v, 252v:254r, 255v:314v, 315v:324v, 325v:326v, 327v:344v, 345v:350r, 351r:351v, 352v, 353v:378v, 379v:383v, 385r:418v, 419v:438v, 439v:451v, 453r:604v, back-i
- Author
- East India Company, the Board of Control, the India Office, or other British Government Department
- Usage terms
- Open Government Licence