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File 1329/1910 'Persia: Imperial Bank (Seistan Branch)' [‎33r] (69/343)

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The record is made up of 1 volume (169 folios). It was created in 1904-1910. It was written in English. 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. .

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inadequate, and did not expect to have to employ themselves less than the
capital usually required for each of their local branches in India, i e , from 2
to 3 lakhs One lakh is equal to one hundred thousand rupees .
question of taking over such local deposits as may now he in the
hands of the Seistan branch and of settling other ordinary business transactions
connected with taking over that branch was one which they thought could
probably be settled mutually with the Imperial Bank of Persia, whenever the
time came for them to take over.
It would, they said, suit them better to defer definite action in the matter
of taking over should such be decided upon, until next autumn, as the
-Bank Manager they would select for the new branch is at present on leave.
7. It will be seen from the above that as far as the Punjab Banking Com-
pany is concerned no difficulty will be found in replacing the Imperial Bank
°! P ersia Seistan by a Bank and Trade Agency An office of the East India Company and, later, of the British Raj, headed by an agent. suited to the requirements
ot the country, and by whose assistance we may confidently hope for the
satisfactory developement of trade between India and Persia.
I would suggest that, unless the Imperial Bank of Persia are willing
to depart widely from their established principles and undertake the Trade
Agency An office of the East India Company and, later, of the British Raj, headed by an agent. business that the Punjab Banking Company are willin'* to do
arrangements be made in time for the latter to take their place in Seistan
next autumn.
o. it nas been laid down as the
* Pide letter No. 116-F. from the Government
of India in the Foreign Department, to His Britannic
Majesty’s Consul in Seistan, dated the 13th January
1908. J
acccpieu poucy ot tne Uovernment of
India that * “ when in particular cases it
becomes necessary to assist trade, such
assistance should be given not to indivi-
A ... ... dual merchants but in a form which may
render it of use to the public generally.” ^
To prevent any possible misconception on this point it may perhaps be
well to point out that the subsidy which would be paid under the proposed
arrangement to the 1 unjab Banking Company will be no more opposed to the
above policy than the similar subsidy now paid to the Imperial Bank of Persia
The additional valuable assistance afforded by the Trade Agency An office of the East India Company and, later, of the British Raj, headed by an agent. will be of
general public use and merely grant to traders in Seistan the same trade
facilities as are now enjoyed by traders in India.
* 3 n Sl 5 ce writm £ the above > 1 have rece i ve( l a further letter (No 12 -C
of 24th January 1909) from His Britannic Majesty’s Consul in Seistan of
which, as suggested l,y him I attach a copy. This, it will be seen, supports
p le , ld ? a ot . j lic Punjab Banking Company replacing the Imperial Bank of
Persia in Seistan and opening a branch in Birjand.
ino. iz-U, dated beistan, the 24th January 1909 (Confidential).
From Major R. L. Kbnnion, His Britannic Majesty’s Consul, Seistan and Kain,
To— The Hon’blr Major Sir Henry McMahon, K.C.I.E., C.S.I., Agent to the
Governor-0eneral in Baluchistan, Quetta.
Nn 99 <!ii a ^t t !roe h , < i llf r > l ,r to , re( l uest a reference to your confidential letter
No. 229 3 , dated 26 th December 1808, to the Government of India, on the
Porehm t 0 ra<ir rtam pr0p0sals matle h ? me for the improvement of the Indo-
„ Ti 7 ° f the CVi<!ent , reactance of the Imperial Bank of Persia to
engage m any business or to employ any capital in Seistan and Kain beyond
what is necessary to carry out in a perfunctory manner the letter of their
agreement to maintain a Branch in Seistan, I feel now convinced that the
P ald . to . tbe Bank should be transferred, as soon as may he possible,
o some other institution or firm that would and could more nearly fulfi
the requirements of the situation. For this purpose, I can think of no more
suitable Agency An office of the East India Company and, later, of the British Raj, headed by an agent. than that suggested by yourself, the Punjab Bank.
T .hn i)| Vlth r , ef . ere “ce to paragraphs 8 and 9 of your letter under reference,
I should explain that my suggestion for the establishment of an Agency An office of the East India Company and, later, of the British Raj, headed by an agent. of
the Imperial Bank at Birjand was made on the assumption that the B'ank

About this item

Content

The volume comprises telegrams, despatches, correspondence, memoranda, notes, reports and accounts relating to a subsidy arranged for the Imperial Bank of Persia in May 1903. The subsidy was paid by the Government of India and related to the establishment of the Imperial Bank of Persia branch bank in Nasratabad in Seistan province.

Correspondence discusses the terms of the granting of the subsidy, grounds for its discontuance, and the proposal of the Government of India to transfer the business of the Seistan branch from the Imperial Bank of Persia to the Punjab Banking Company, if the Imperial Bank of Persia was unable to operated as a combined banking and trade agency An office of the East India Company and, later, of the British Raj, headed by an agent. business.

The correspondence includes (ff 158-165) the Proceedings at the 15th Annual General Meeting of the Shareholders of the Imperial Bank of Persia, held at the Cannon Street Hotel, on the 12th December, 1904'.

The principal correspondents in the volume include the Secretary of State for Foreign Affairs (Sir Edward Grey); the Manager, Imperial Bank of Persia (G Newell); the Secretary of State for India, JohnMorley, 1st Viscount Morley of Blackburn; and the British Consul for Seistan and Kain (Major R L Kennion).

The volume is part 1 of 1. 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 (169 folios)
Arrangement

The papers are arranged in approximate chronological order from the rear to the front of the file. The subject 1329 (Persia: Imperial Bank (Seistan Branch) consists of 1 volume, IOR/L/PS/10/176. The volume is divided into one part with each part comprising one volume.

Physical characteristics

Foliation: the foliation sequence commences at the front cover with 1, and terminates at the inside back cover with 169; 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 in Latin script
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File 1329/1910 'Persia: Imperial Bank (Seistan Branch)' [‎33r] (69/343), British Library: India Office Records and Private Papers, IOR/L/PS/10/176, in Qatar Digital Library <https://www.qdl.qa/archive/81055/vdc_100030583466.0x000046> [accessed 29 March 2024]

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