File 523/1912 Pt 1 'Persia: Imperial Bank: mint contract' [‎55r] (105/386)

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D^is Docament is the Property of His Britam ilc M ajesty’s Govemiiisnt,
and should be returned to the Foreign Office when done with
nnless required for officiarnse 1 p, ^
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POLITIOxxL
D e cypli er ot u e 1 e&ran f r on l,.r P.Ia r lin tJ (T eh er an )»
June 27th 1916*
(d.. 1.20 p.m. r. 10 p.rn June a 7 th).
No.415. (H)•
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Your despatch No.35 and your telegram No.282.
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Banlcs and I.iinting contracts.
It sser:is curious that the Russian Goveranent
should advance teraporary need namely financing of
their (? group omitted) in Persia as a reason to
concluding asreeieits to existing ten years and so
far as I can judge real object of proposals is to
attack the privileged position of Imperial Bank of
Persia. This view seems to get special confirmation
from stipulation in section 2 of mint Agreement which
secures priority for joint operations as against
minting by the Imperial Bank of Persia on its own
a ccount.
I most strongly deprecate suggestion, to entrust
a.
two Legations with any precedences as suggested in
clause 2 of agreement between tae banks as they are
not competent to judge in a dispute between tne
banks requiring expert knowledge. In agreement be
tween tne two Governments section 1 seems objection
able as it could be cited as precluding us from
defending interests of the Imperial Bank oi Persia
for