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'The Persian Debt to the Government of India and His Majesty's Government.' [‎1r] (1/12)

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The record is made up of 1 file (6 folios). It was created in 8 Apr 1929. It was written in English. 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. .

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P 2806/29.
The Persian Debt to the Government of India and
His Majesty’s Government.
It will "be remembered that the policy to be adopted
by His Majesty's Government and the Government of India m
regard to the Persian debt came under consideration in May 1924.
The total Persian indebtedness then outstanding was £4,549,200.
The history of the various items composing this total is given
in the Foreign Office memorandum of Cth May 1924, on P.2271/24
below. It will be seen that, with certain unimportant excep
tions, the debt in question was incurred jointly to His Majesty's
Government and the Government of India, and that, save for an
item of £490,000 representing pre-war loans on which interest has
consistently been paid, the total was made up of special
expenditure during the war which the Persian Government were,
broadly speaking, most reluctant to meet. The argument on which
they based their reluctance was that the money was in a majority
of cases advanced substantially to secure the ends of British
policy, and should properly be treated a^. subsidy given for
that purpose.
2, As the result of considerable discussion in London and in
Tehran, it was finally decided in 1925, with the concurrence of
the Governmentsf India, the Secretary of State in Council, the
Treasury and the Foreign Office, that the Persian Debt to His
Majesty’s Government and the Government of India should be
reduced to £2,000,000 payable in 25 years. The decision was based
on the considerations that there was no reasonable prospect
of securing full repayment of her indebtedness by Persia; that
there was serious danger that we might find cursives faced with a
counterclaim for damages sustained as the result of British
operations and British policy in Persian territory during
and immediately after the war; and that there was some
slight

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Content

This file consists of a memorandum describing the historical background to the Persian debt to the Government of India and to the British Government. The memorandum records a number of proposals for debt relief put forward by the Government of India, the Foreign Office and the Chancellor, made on the basis firstly that the majority of the debt consisted of war loans against which it was feared the Persian Government might have grounds for a counter-claim, and secondly that a number of concessions might thereby be won. The memorandum was written by John Gilbert Laithwaite, 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. .

Extent and format
1 file (6 folios)
Physical characteristics

Foliation: the foliation sequence commences at the first folio with 1 and terminates at the last folio with 6; 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.

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English in Latin script
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'The Persian Debt to the Government of India and His Majesty's Government.' [‎1r] (1/12), British Library: India Office Records and Private Papers, IOR/L/PS/18/C216, in Qatar Digital Library <https://www.qdl.qa/archive/81055/vdc_100037810698.0x000002> [accessed 29 March 2024]

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