File 756/1917 Pt 2-3 ‘ARAB BULLETIN Nos 66-114’ [‎186r] (380/834)

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A temporary solution was provided by the nrohibitinn oil
rade w lt h Massawa from Hejai ports. T^is
for dhows going south of Lith. A definite arrangement has now
■mlh wh 4 W b,Tt th hoffs T allow t d 5? «° t0 ° Massawa from
Sudan Z slv f they must c . ross the Red Sea at once to Pori
shore for and th . en W to the western
r it i c iebt ^ le .l°urney : a similar routine is to he
handId d over ‘re rT™ T° y T • 0ffendin g dhows a™ to be
nanded over to the civil authorities; and it is hoped tha/.,
satisfactory nwdusoperandi for those sent in to the Heinz ports
SherifiLTthoriti ^ 6611 British A § ent at Jiddah t h ;
Trade at Akabaand the collection Gold.
The steady drain of gold to the Hejaz for the subsidy beiran
to create a serious outlook- for the future of the JigyptL gold
reserve some months ago (see p. 7). In November 19 Va,,
arrangement was made at Jiddah whereby the merchants into
whose hands the gold eventually gravitated, could pay it into a
ritisli bank at that place, in exchange for drafts oii India, the
gold being then used again for the next month’s subsidy. A
large part of the subsidy, however, now goes to Akaba, where no
sue arrangement has been in force, owing partly to the absence
f a i ny “ te n . k > ? nd P artl . v to the very limited size of the
market there. I his last factor again was caused bv lack of
accommodation on the boats going to Akaba, the cargo* space on
which was always so far filled with military stores and other
requirements for Sherif Feisal’s army, that it was almost an
impossibility to ship private merchandise. For some months
however, local merchants had been most insistent in their
requests for permission to send goods to Akaba. At the same
time the drain of gold was growing serious, as nearly all the
specie sent to Akaba was lost to Egypt: some found its way to
Damascus and some to the gold bazaar to be made into ornaments,
and much was probably hoarded : a certain amount did find its
way to the Jiddah markets.
Eventually an arrangement was made with the National
Bank of Egypt whereby cheques could be issued by the Base
Commandant at Akaba'in return for gold paid into him bv
merchants. A proclamation was issued forbidding the import of
gold into Egypt and authorising the compulsory exchange for
notes of all gold found on persons returning from Akaba and the
Hejaz, Finally the Naval authorities agreed to obtain a special
steamer for the Akaba trip only, so that merchants could send
goods there and attract the neighbouring tribes and Feisal’s
Army with wares from Egypt and England. This scheme is
only in its inception at present ; but it is hoped that it will
not only succeed in drawing the gold to Akaba but have a
good effect politically in increasing British prestige in Western
Arabia.