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Coll 28/3(2) ‘Persia. Financial situation.’ [61r] (121/817)
The record is made up of 1 file (407 folios). It was created in 7 Sep 1938-1 Jan 1946. It was written in English and French. 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. .
Transcription
This transcription is created automatically. It may contain errors.
Economic Policies
When the Law of 13 Ordibehesht 1322 was passed, the policy was to
stab lize prices, rents and wages. Daring the first twelve months after the Law
was passed, we felt it necessary to agree to various increases in prices, salaries
and wages. At the present time, generally speaking and except for minor
adjustments, the prices, salaries and wages that are under our control are
being held at a level.
In the case of certain commodities, the prices of which are fixed by us,
extreme pressure is brought to bear upon us to approve increases. Such in
creases must, of course, by paid by the Iranian people. They pay the bill,
either in the form of higher prices to the consumer or in higher taxes to
cover the Government deficit. Moreover, any increase in prices to the pro
ducers of any particular commodity, such as grain, rice, tea, cotton, or to
bacco, starts once again the vicious inflationary spiral. Consequently, we pro
pose, except in special cases, where small adjustments are proved to be neces
sary, to withhold our approval of any further elevation of prices.
The fixing of prices of monopoly and controlled commodities has
been assigned to a committee which carefully studies the pertinent facts and
gives a hearing to the interested groups.
It is, of course, understood that we have deliberatfly refrained from any
attempt to fix prices generally or to control retail trade g°nerally. We felt
that any such attempt was bound to fail, as it had failed prior to the enact
ment of the Law of 13 Ordibehesht 1322. Results demonstrate the soundness
of the policy.
Our policy from the beginning has had special reference to the staple
commodities — cereals, sugar, tea, and cotton piece - goods. These were
already monopolized by the Government and it was necessary to maintain
strict control over their procurement, rationing, and distribution. A few
other commodities have been taken under control, notably automotive vehicles,
parts, accessories, and tires. In some cases, for example with respect to fuels,
we have relinquished controls and it is our policy to free other goods from
control as soon as it become* possible to do so.
It is also our general policy to leave as much business as possible in the
About this item
- Content
Papers reporting on the financial situation in Iran, sent by staff at the British Legation at Tehran (Horace James Seymour; Reader William Bullard) to the Foreign Office, London. The file is a direct chronological continuation of Coll 28/3 ‘Persia. Financial situation’ (IOR/L/PS/12/3394).
The file includes:
- Covering letters enclosing copies of the monthly Bulletin , produced by the Bank Melli Iran (also referred to as the Mellié Iran Bank, and Banque Mellié Iran). The copies of Bulletin are not included in the file (although some front covers do survive), however the covering letters give short summaries of their lead articles.
- Details and estimates for Iran’s annual budgets, with numerous statistical tables.
- Correspondence dated December 1939 to February 1940 relating to irrevocable documentary confirmed credits (irrevocable letters of credit) opened by Bank Melli Iran through banks in India (ff 356-361).
- Copies of laws passed by the Iranian Parliament, including a law relating to war credits and treasury bills (in French, f 334), a Law for the Prevention of Hoarding (ff 325-329) and an Income Tax Law (ff 262-271).
- Correspondence and budget reports dated 1943-1944, produced during the takeover of the administration of Iran’s Finance Ministry by a mission from the United States, led by Arthur Chester Millspaugh.
At the front of the file (ff 4-200) are fourteen monthly reports of the Administrator General of the Finances of Iran (Millspaugh), produced according to the Solar Hijri calender, and dating from Ordibehesht 1322 (equivalent to the Gregorian calendar date of 22 April to 22 May 1943) to Mehr 1323 (23 September to 22 October 1944). The reports, which also contain lists of staff of the Iranian Ministry of Finance and its connected organisations, summarise Iranian finances. Many of the reports contain a map of Iran (for example, folio 185), showing borders, roads and railways, major towns and cities, and districts, which are numbered 1 to 10.
- Extent and format
- 1 file (407 folios)
- Arrangement
The papers are arranged in approximate chronological order from the rear to the front of the file. The file’s correspondence begins at folio 202 and ends at folio 407. Printed reports occupy the front portion of the file (with an enclosing note, ff 4-201), and are also arranged in reverse chronological order.
- Physical characteristics
Foliation: the foliation sequence for this description commences at the inside front cover with 1, and terminates at the last folio with 408; 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. A previous foliation sequence, which is also circled, has been superseded and therefore crossed out.
- Written in
- English and French in Latin script View the complete information for this record
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Coll 28/3(2) ‘Persia. Financial situation.’ [61r] (121/817), British Library: India Office Records and Private Papers, IOR/L/PS/12/3396, in Qatar Digital Library <https://www.qdl.qa/archive/81055/vdc_100037593728.0x00007a> [accessed 7 June 2026]
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- Reference
- IOR/L/PS/12/3396
- Title
- Coll 28/3(2) ‘Persia. Financial situation.’
- Pages
- 56r:67v, 38r:55v, 26r:37v, 16r:25v, 4r:15v
- Author
- Millspaugh, Arthur Chester
- Usage terms
- The copyright status is unknown. Please contact [email protected] with any information you have regarding this item.