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Coll 28/22 ’Persia; Relations with H.M.G. Persian Debt to H.M.G.’ [‎179r] (357/385)

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The record is made up of 1 file (191 folios). It was created in 12 Jun 1931-1 Mar 1940. 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. .

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J voS\
Minute Paper.
Department.
47'J3a 5000 10 30
Please see previous submission on P.Z. 3718/61
t
below, and the further correspondence enclosed in
Foreign Office letter of 20th June on P.Z. 3976/31.
Sir Robert Clive's despatch No. 293 of 12th June
enclosed in the letter from the Foreign Office now
submitted gives a full account of the conversations on
this subject with the Persian Government.
We should be glad to see the prewar loan of
£490,000 funded on satisfactory terms, if this could be
done without prejudice to the position of the balance
of the Persian debt to us, and agreement has been
reached between the Treasury, the Government of India
and this Office as to the funding terms which might be
offered to the Persians. But we may agree with the
Foreign Office that it is very important to do
nothing - more especially now that the general
negotiations with Persia are interrupted - which could
weaken our claim to the balance of £^510,000 due to us
by Persia. We have^all along been prepared to abandon
this £1510,000 in return for a satisfactory settlement,
and we have even gone so far as conditionally to
promise remission of £1,000,000 of it.X^The Persians in
the course of the negotiations proved to attach a
quite unexpected importance to remission of the balance
of £510,000. [ In the circumstances , The line now
suggested by the Foreign Office is probably on the
whole the best. If the Persians are prepared
formally to recognise that the amount of their agreed
debt to us is £2,000.000 (£450,000 being prewar), we
need raise no objection to the funding of the prewar
portion/

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Content

Correspondence concerning the Persian Government’s desire, signalled in June 1931, to pay off in full a pre-war interest-bearing debt owed to Britain, totalling £490,000. Correspondence is chiefly exchanged between the Foreign Office (Charles William Baxter, George William Rendel), the 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. (John Gilbert Laithwaite), the Treasury (Thomas Kenneth Bewley), and the British Legation at Tehran (Charles Dodd), and covers:

  • The wording of a formal response to be given to the Persian Government, that does not comprise or jeopardise the outstanding (post-war) debt of £1,510,000 remaining to be paid.
  • The nature of the servicing of the debt and its interest.
  • In late August 1931, the Persian Ministry of Finance’s decision to abandon service of the debt, and continue payment of interest on the debt at seven per cent.
  • In 1932, the Persian Ministry of Finance’s reversal of their earlier decision to abandon servicing of the debt.
  • In June 1933, confirmation via the Imperial Bank of Persia of the full servicing of the pre-war debt.
  • 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. correspondence dated October 1933, enclosing a provisional draft of instructions for a General Treaty between Britain and Persia, making mention of the outstanding debt owed by Persia to Britain (ff 16-34).

The file contains two letters in French (f 42, f 47), sent by the Treasury General of the Persian Ministry of Finance.

Extent and format
1 file (191 folios)
Arrangement

The papers are arranged in approximate chronological order from the rear to the front of the file.

Physical characteristics

Foliation: the foliation sequence (used for referencing) commences at the inside front cover with 1, and terminates at the last folio with 192; 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
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Coll 28/22 ’Persia; Relations with H.M.G. Persian Debt to H.M.G.’ [‎179r] (357/385), British Library: India Office Records and Private Papers, IOR/L/PS/12/3419, in Qatar Digital Library <https://www.qdl.qa/archive/81055/vdc_100041980875.0x0000a0> [accessed 28 March 2024]

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