File 523/1912 Pt 1 'Persia: Imperial Bank: mint contract' [‎78r] (151/386)

the Banks the right of priority as to the coining of the
sliver imported under the contract, namely he wished to
prevent the possibility for the Persian Government to
postpone the coining of said silver under the pretence of
recoining old "Krans". We now learn for the first time
f r° m mr - v;ood ’s letter that your Bank has concluded an
agreement with the Persian Government concerning the
recoining of old ”Krans”. At the same time Mr. Wood
wishes us to understand that the projected clause
concerning c.ne right ol priority is inconsistent with
this agreement and as such must he removed. On our part
however we cannot possibly consent to the removal of this
clause as we should then have no guarantee of the silver
impoi ced from abroad being ever coined in good time.
It seems to us quite natural that under the existing
circumstances no difference should be made between the
silver proceeding i-rom old ”Krans” and the silver imported
from abroad in other words‘that the old M Krans M should
form part of your share of the silver supplied by both our
'Banks to the Persian Government, We trust that you will
share this view, all the more so as, had you intended to /
reserve the benefits accruing from the old ”Krans” to ^
yourselves over and beyond your normal share in the import
of silver, you would surely not have failed to put this
fact before our Delegates during their visit to London in
February 1914.
We do not like to think that Mr. Wood is intention
ally endeavouring to hinder our coming to an agreement
with regard to the u- v contract, as we believe that joint
and friendly work would best forward the interest of our
respective Banks, Nevertheless as the experience of
the new contract in Teheran, which
settling the terms of