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Coll 30/224 'Currency Arrangements in the Arab Sheikhdoms of the Persian Gulf' [18r] (43/157)
The record is made up of 1 file (74 folios). It was created in 22 Sep 1948-14 Sep 1949. 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. .
Transcription
This transcription is created automatically. It may contain errors.
2 .
to see him, but as lhave reported separately he has
allecid^ proposed to issue his own small coinage and he
ill certainly lollow this up when v/e discuss v.ith him
the issue oi a currency. I agree hov/ever that
neither he nor any of the other Rulers is likely to
press ior a completely separate currency for his own
dte te.
I v;ould urge that an early decision should
be reached regarding the policy to be followed regard
ing currency in the Cruli in oruer that, if necessary,
the whole matter may be uiscussed with the Rulers on
the lines proposed at the end of chapter II of the
report. The Sultan of huscat should be included in
the discussions. I consiuer it likely that he will
concur in any reasonable change proposed provided vie
accept the responsibility for it anu he is not called
lapon to issue any order himself.
6 . In Chapter III ox his report r. Waight
discusses the utilisation of the surplus funds of
the lull States. ns his^figures show, Kuwait is
the only Gulf state in which this question at present
calls for early action. In Bahrain unless there is a
substantial increase in the royalties as a result of
pending negotiations, the existing income is only
just sufficient for reasonable local development and.
the building up of a reserve fund. gatar will receive
its first royalty not this year as stated by Mr. Haight
but in 1950 and it will not reach a total of £5Ct,C0C
till 1951. I agree generally with Lr. Waight 1 ^ recomm
endations about the utilisation of surpluses and \ ith
tis oninion that no approach to the Shaikh oi Kuwait
should be made on tne subject until we have foimed
more definitive ideas on it ourselves. . I.l , as is
proposed, a Financial* Secretary is appointed to my
staff, I hope I may be able in due course to suggest
the lines on which he should be approached. I em ,iOt
at first sight in agreement with I r. uaight 1 s suggest
ion that the Rulers should be pressed to increase.tneir
customs tariffs. Sotae of theShaikhaoms owe tneir
nTnQrtPT'l tv ve^v largely to their low customs tariixs
and I ^doubtful if it is v,ise to encourage the Rulers
to raise them either from a local or a general point
view.
7 I am interested to see that hr. ..aight does
* t „,) 0r t the criticisms v;hich have been leyelleu at
s: ^ a. ■
=.u r«
but not his general iinancial poli^•
T am not quite sure that Mr. Waight is correct
in his statement ,' fc p e f'^^fc-ifcoiupany/vide'^ara.
^of ^p^n oflh f ^ am Lchned to
think that the reverse is the cas..
/9. In chapter
About this item
- Content
The file concerns currency arrangements in the Arab states of the Persian Gulf The historical term used to describe the body of water between the Arabian Peninsula and Iran. that were under British influence.
The papers cover: allegations by the Government of Pakistan and in the Pakistani press of discrimination against Pakistan currency in Bahrain; exchange control policy; 'Report on Persian Gulf The historical term used to describe the body of water between the Arabian Peninsula and Iran. Tour of Treasury Representative [Leonard Waight]', dated June 1949, covering the use of the Indian rupee as the official currency of the Persian Gulf The historical term used to describe the body of water between the Arabian Peninsula and Iran. sheikhdoms, the long-term implications of the increase in oil revenue in the region and the use of surplus funds (with particular reference to Kuwait and Bahrain), and the working of exchange control, with conclusions and recommendations (folios 28-41); the comments of the Political Resident A senior ranking political representative (equivalent to a Consul General) from the diplomatic corps of the Government of India or one of its subordinate provincial governments, in charge of a Political Residency. in the Persian Gulf The historical term used to describe the body of water between the Arabian Peninsula and Iran. (Lieutenant-Colonel Sir William Rupert Hay) on Waight's report (folios 17-20); and a note of a visit to Bahrain by a representative of the State Bank of Pakistan in September 1949.
The file contains also correspondence from the Bank of England.
The file includes a divider, which gives a list of correspondence references contained in the file by year. This is placed at the back of the correspondence.
- Extent and format
- 1 file (74 folios)
- Arrangement
The papers are arranged in approximate chronological order from the rear to the front of the file. There are file notes on folios 2-11: these notes are in chronological order from the front to the rear of the file.
- Physical characteristics
Foliation: the foliation sequence (used for referencing) commences at the first folio with 1 and terminates at the last folio with 74; 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. An additional foliation sequence is present in parallel; these numbers are printed, and are not circled. The foliation sequence does not include the front and back covers.
- Written in
- English in Latin script View the complete information for this record
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- Reference
- IOR/L/PS/12/3968B
- Title
- Coll 30/224 'Currency Arrangements in the Arab Sheikhdoms of the Persian Gulf'
- Pages
- front, back, spine, edge, head, tail, front-i, 1r:4r, 4ar:4av, 5r:45v, 46v:55v, 58r:74v, back-i
- Author
- East India Company, the Board of Control, the India Office, or other British Government Department
- Usage terms
- Open Government Licence