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3. Article 3 provides for a credit of two million pounds for military
requirements, and intimates that a sum of £800,000 paid out of reserves to
meet expendit*re on railway construction has been spent.
4. Article 6 authorises the Customs to insure against fire, with the Iran
Insurance Company, all goods lying at Customs houses, from the date of
arrival. The insurance premium will be collected from the owners of the goods
when the goods are cleared, unless the owner has previously submitted his
insurance documents. This practically enforced insurance will add to the
cost of goods, which are usually bought C. I. F. at an Iranian port,
and also offers an easy way to increase the receipts of the Iranian Insurance
Company.
5. Article 5 authorises the Ministry of Finance to increase the capital of
the Agricultural and Industrial Bank from thirty million rials to one hundred
million rials, the increase to be met by sales of crown lands.
6. I am sending copies of this despatch to the Department of Overseas
Trade, to the Secretary to the Government of India in the External Affairs
Department, and to His Majesty’s Ambassador at Baghdad.
TRANSLATION.
Extract from “ Ittela’at ” of 27th Esfand, 1316 (18th March 1938).
Supplementary Articles to the Budget Law of 1317.
Article 1.—The Government is authorized to transfer to the National
Bank of Iran on account of the balance of its capital of 300 million Rials, in
accordance with the Law of the 17th Tir, 1314 (9th July 1935), the 683,599 • 82
grammes of gold which the Government has bought out of the State’s reserves
and general revenue at a cost of Rials 12,120,024-35 at the rate of the day
the equivalent of Rials 9,235,757-40 at the rate fixed in the Law of the
22nd Esfand, 1310 ; the Government can also purchase gradually out of its
various receipts the equivalent of three hundred thousand pound sterling of
gold and transfer it to the National Bank of Iran as above on account of the
balance of its capital of Rials 300 million.
Article 2.—The phrase “likewise persons who in future remain ‘ en
disponibilite _ for 5 consecutive years will be retired in the manner above-
q ls + el T ma 1 t n e oof r0m Article2 of the Law of the 29th Shahrivar,
1311 (20tb September 1932).
,' 3 — The Ministry of Finance is authorized, firstly, to pay out
of the State s reserves a sum of two million pounds as a credit for military re
quirements, the period during which this sum may be used not being limited
nf ; sec . 0 , nd1 ^ t?f e g ard as irrecoverable expenditure the sum
nll 8 ^’ 000 hlCh Pa i ld ° Ut ° f the State ’ s revenues as a loan to meet certain
necessary expenses of railway construction, in accordance with Article 3 of the
Supplementary Budget Law for 1314 and the Law of 12th Mordad, 1314.
ha ^ rtide 4 ‘^ The Government is authorized to prolong the loans which
Agricuhum^Bfnks^for'th ^ ^ aw ^ n been obtained from the National and
tions and hLe expired, for one^ear! G ° Ver5 “ Apartments and Institu-
securing C the^*colWtin^^ °u ^ inarice authorized, for the purpose of
Government revermp* p’-iv, e hues for smuggling which are considered as
^~\rc£g e ^rofthe r —, of
accordance with regulftioL which hteTen dtwn’up on The b^fth”
ehudeM^ThTTaTT^k 6 eXe r Ut ‘M 0f re g is t e red documents (asnad-i slbt
faded to nav thet fine* Tnd ap P IlCable . to 1 Pf sons under detention who have
tailed to pay their fines and whose period of detention has not yet expired.
as from the first FarvaSnSl^^lTSy m8i h t® UmrUk) ^
the national (dakhili) Insurance Companies all thTTondT' 6 TV
th, goal, „ the f fr “ h " of ? t ” »li«n
his insurance documents to the Customs 8 d h previously produced