File 523/1912 Pt 1 'Persia: Imperial Bank: mint contract' [‎21r] (37/386)

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»i. 36566/17.
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February ^ncl f 1917•
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With reference to your letter, 19507, of the 4th
j u{;ust last, relative to the provision of currency in
Persia, I am directed by Mr. Secretary Balfour to
transmit to you, herewith, to be laid before the Loxds
Commissioners of His Majesty’s '.treasury, a of
telegram from His Majesty’s M -hor at Petrograd,
from which it appears that the ■Russian Ministry of
Finance have now approached lard Revel stoRe in the
matter.
I am to observe that under article 3 of the
Concession granted in 1,389 to the Imperial B n* of
Persi • copy of which is enclose-, herein, for Their
Lordships’ inforaation, that Bank are entitled to a
monopoly for the issue of notes, ^nd it would appear
that the present Russian proposal is calculated to
infringe tills monopoly*
In these circumstances, Mr. Balfour would prefer
to resist the proposals of the Russian Government
hut before doing so he would be glad to receive the
observations of Their Lordships thereon,
1 310 ’Your* mo at obedient,
humble servant,
(Signed) R Graham,
The secretary
to the Treasury