File 2678/1917 Pt 1 'Persia: Financial arrangements Rouble Exchange' [286r] (244/417)
The record is made up of 1 item (206 folios). It was created in 8 Jun 1917-24 Dec 1917. 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. .
Transcription
This transcription is created automatically. It may contain errors.
m
r
in consideration of and as security for such advance,
the Russian aovernment have undertaken to despatch
£ 100,000 ■worth of silver from petrograd and to deliver
saroe in Teheran before the middle of October.
nr| ty.R -;7th jUif-ust . Mr. Wood telegraphed "With refer
ence to my telegram of 19th August there is considerable
nanic/Roubies which are offered at 11 to 1Z shahls
shahis - 1 kran) without buyers, endeavour to increase
weekly lirait to Roubles 5.OOP.000 - otherwise our support
is of little use in maintaining rates .
nv frhfl 3rd santamber Hr. Wood telegraphed us "Re our
telegram of 2?th August Haimdan telegraph Military
requirements here for next three months estimated at
Tomans
10,000 Persian dinars, or a gold coin of that value.
500,000 monthly but consider this exaggeration, fe
have been urgently requested by Military assist them as
much as possible. Ability lof troops to) advance entire#
depends on assistance we are able to render and we ( ~
strongly reconmend that very large portion of Roubles
2,000,000 weekly v/hich we ere permitted to remit to Russia
should be reserved for the purpose. To what extent can
you supply us with cash? Here ends foregoing telegram.
With reference to foregoing we anxiously avslt ^ply »-o
our telegram (to London) of 27th August .
The above information has been communicated to the
Russian Financial Agent as received.
It is to be noted that our Ramadan Manager thinks
Military requirements there are exaggerated when estimated
at
Tomans
10,000 Persian dinars, or a gold coin of that value.
500,000 monthly, but however this may be, it
seems quite clear that their requirements cannot oe
financed out of our present purchasing power of Roub es ,
2 , 000,000 weekly and also that the purchase of tnis
amount only will not check the fall of the Rouble in
Persia. If our authority to purchase is increased as
re ernestea
About this item
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This part contains papers relating to the financing, by the British Government, of the Imperial Russian Army in Persia [Iran], notably difficulties concerning the acquisition of currency for the payment of troops, and the development of British policy regarding the method of distribution of funds to the Russian military authorities in Persia. The papers notably cover:
- Problems with: purchasing roubles [rubles] in Russia due to restrictions on agents of the Imperial Bank of Persia in Russia; the remittance of roubles through Persia; and the poor rouble exchange rate due to the depreciated value of the currency
- ‘Lawless’ behaviour of Russian troops in Persia, notably at Hamadan, Kermanshah and Kasvin [Qazvin], including looting of bazaars, apparently following the refusal of marketeers to accept the depreciated rouble
- Problems of the Russian military authorities, notably the ‘Caucasian Army’ [Russian Caucasus Army] under General Baratoff [Nikolai Nikolaevich Baratov], in obtaining funds from the Russian Government, and requests for British financial support and loans
- British concerns that the departure of Russian troops would leave Persia vulnerable to attack by Turkish [Ottoman] forces, and plans to send a British force to the region
- The need of the British Government and the Government of India to balance financial pressures in Persia with those of the war effort elsewhere
- Plans for the acquisition of silver by Russia from America, and its transfer to Petrograd [St Petersburg] for minting of Persian money (Krans) and onward transmission to Persia, or for transfer to Teheran [Tehran], via Petrograd, for minting in Persia, to meet the requirements of the Russian troops (see also IOR/L/PS/10/687/2)
- British decision to set up a Commission, or Board, in Hamadan, for the control and distribution of Krans to finance and pay Russian troops in Persia (rather than distribute funds via a Russian Bank or directly to the Russian military authorities), and difficulties over recruiting staff who are both sufficiently experienced and available (see also IOR/L/PS/10/687/2)
- Growing British doubts in late 1917 about the reliability of Baratoff’s army and the policy of continuing to finance it, notably the War Office’s view that it is out of control, under the influence of Bolshevik committees, and at risk of being utilised against British interests.
The papers mostly consist of: covering letters of the Under-Secretary of State for Foreign Affairs to the Under-Secretary of State for India, with related enclosures; minute papers of 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. Secret and Political departments; copies of decyphered telegrams; copies of correspondence; notes and letters by 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. officials. 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. minute papers are annotated chiefly by John Evelyn Shuckburgh, Secretary, Political and Secret Department, and Francis H Lucas, Secretary, Financial Department.
The main correspondents are as follows: the Foreign Office; 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. , including various Financial Department officials; Sir Charles Marling, Envoy Extraordinary and Minister Plenipotentiary A diplomatic representative who ranks below an ambassador. The term can be shortened to 'envoy'. , Teheran; George Newell, Manager, Imperial Bank of Persia, London; Monsieur S Ermolaieff [Yermolayev?], Agent of the Imperial Russian Treasury, India House, London; and M Nabokoff [Konstantine Dmitrivitch Nabokov], Chargé d’Affaires of the Russian Government in London. Other correspondents include: Sir Cecil Spring Rice, British Ambassador to the United States, Washington (also a former Ambassador to Persia [Iran] 1906-1908), and Sir George William Buchanan, British Ambassador to the Russian Empire (up to the October Revolution), Petrograd [St Petersburg].
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- 1 item (206 folios)
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- English and French in Latin script View the complete information for this record
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File 2678/1917 Pt 1 'Persia: Financial arrangements Rouble Exchange' [286r] (244/417), British Library: India Office Records and Private Papers, IOR/L/PS/10/687/1, in Qatar Digital Library <https://www.qdl.qa/archive/81055/vdc_100110327474.0x0000ba> [accessed 13 July 2026]
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- Reference
- IOR/L/PS/10/687/1
- Title
- File 2678/1917 Pt 1 'Persia: Financial arrangements Rouble Exchange'
- Pages
- 368r:369v, 366r, 341r, 332r:333r, 313r:314r, 312r, 309r, 307r, 306r, 295r, 291r, 290r, 284r:287r, 281r, 280r, 278r:279r, 277r, 269r, 267r, 262r, 261r, 240r:241r
- Author
- Newell, George
- Copyright
- ©Anonymous
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