مجموعة ٣٠/ ٢٢٤ "ترتيبات العملة في المشيخات العربية في الخليج الفارسي." [و‎‎١‎٨] (١٥٧/٤٣)

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