Coll 28/59 ‘Persia. Financial Situation’ [‎9v] (29/842)

*s^i “»f 1 “* cll “' :S1
prohibit dealmgs^n foreign ^an m(;)nopoly f imports of motor
vehicles. This long-heralded measure ^ ^ monopoly tax
being import licences are still icing a-nods monopoly but will not exceed .
is to be charged, as in the case of th e t ^"fTerence between the official and
the charge hitherto in force representing the ditterence nm ^ intention of the
the actual rates of foreign exc ang . entum 0 f the income obtained from
Government to use if necessary up to 50 per centum or tne ed
this providSg'for 1 *a^foivernment sanitary inspection of casings and
insp^ition^char^^^vas wiSidrawn^as^ result of^crd;iciaii^in^the^Ma^lm^^^ °f a
Real Esttte Mortgage Company, and ?or the investment in this company by the
bank of 5 ^Yo requi^ all insurance companies working in Iran to deposit
7. Article 1U p • d - a part 0 f the insurance premiums received
fn C W’must be converted nto shares or bonds of the Real Estate Mortgage
romnanv referred to .above, and be deposited in the Agricultural Bank. The
exact meaning of these requirements will no ^t be m ^e cleai m e near
fntnrp in the regulations to be drawn up by the council ot Ministers.
f 8 It wilfbe seen from the foregoing that the supplementary budget law
J nf «nme imnortance From its financial provisions, it is clear that
is a document of s P • rrency i s being drawn on to an increasing
l^aMv^much more than £2 milliom
similarly the sugar monopoly' revenue for railway construction is exhausted, and
Similarly, tne sugai mu h dipping into the national reserve and
borrowing 8 from the National Bank will no doubt continue. The latter oan ?"}y
lend against its—or the Government's—gold hoarding which is alr eady mai y
earmarked against the augmented note issue, and which is therefore likely m the
near future to be completely immobilised and unavailable for use in ot
directions. ^ oopies of this despatch to the Department of Overseas
Trade (No 0 T. (B) 69), to the Foreign Secretary to the Government of India
(No 66)! and to His Majesty’s Ambassador at Bagdad (No. 21).
I have, &c.
Enclosure in No. 1.
Extract from the Messager de Teheran.
La Loi complementaire du Budget de 1314.
Article l er . Le Ministere des Finances est autorise a payer au Ministers
des Voies et Communications les sommes suivantes pour couvrir les depenses
relatives a la construction du chemin de fer :
(a) line somme de 30 millions de rials sur le credit des fondations
economiques du budget de 1’annee 1313, ladite somme ayant deja ete prelevee
sur les recettes du sucre et du the et depensee suivant la loi, pour les frais autres
que la construction du chemin de fer; ., , _
(b) Une somme de 120 millions de rials sur les revenus du monopole du sucre
et du sucre en poudre.
Art. 2. Le Ministere des Voies et Communications est autorise a emprunter
a la Banque nationale jusqu’a concurrence de 150 millions de rials pour couvrir
les d^penses relatives a la construction du chemin de fer.