File 523/1912 Pt 1 'Persia: Imperial Bank: mint contract' [‎12r] (19/386)

0
providing credits for 1 us si an expenses in iersia was
fully discussed between representatives of the Treasury
and of the lussian Government and also between the
Treasury, the Foreign office and the imperial bank of
iersia* As a consequence of these negotiations, * y
Lords agreed on the 4th August last to total credits
amounting to £120,000* The last instalment of tliis
^aount has been drawn by the Lussisn government but
recently, the sum of £120,000 having lasted for a period
of nearly six months. During the intervening period,
the balance of lumim requirements in iersia has
presumably been found through the ordinary channels of
exchange; and y Lords do not understand, particularly
in view of dir 0. karlin^s telegram bo. 70 of the
19th instant, why this state of affairs should not
continue. in any case, the purchase of silver to the
value of £4,000,000 probably could not be effected, mid,
if effected, mi^ht be expected to cause a most grave
disturbance in the currency system of India as well
to derange the currency arrangements of many other parts
of the world.
or these reasons, therefore, < y Lords agree
that bir George Buchanan should be informed tiiat the
proposals of the Jussian minister of Finance cannot be
entertained and tnat it is undesirable that any negotia
tions on these lines should be proceeded with.
1
E/i, , y Lord, , .
Your obedient servant,
So( ^ ^^