Sykes' History of Persia Vol 2 (pdf) - Heritage Institute

478 HISTORY OF PERSIA CHAP.
Imperial Bank of Persia. This British enterprise was
started with a capital of one million sterling
l
and with the
right to issue bank-notes. It was also granted the ex^.
rjloitation of the mineral resources of Persia, with the
exception of precious stones, gold, and silver. 2 At first
the managers of the institution bought their experience
somewhat dearly and the sudden
;
and apparently permanent
depreciation of silver constituted a heavy loss. But today,
after carrying on operations for a quarter of a century,
the position of the Bank is fully recognized ;
and it can
claim to have become a Persian institution of special value
both to the Government and to merchants.
The Tobacco Regie, 1890-1892. Less fortunate than
the Imperial Bank of Persia was the fate of the Tobacco
Regie. (This ill-judged concession gave
full control over
the production, sale, and export of all tobacco in Persia.
In return for these rights
a sum of ^15,000 was to be
paid annually to the Shah in
; addition, after the working (MI
expenses and 5 per cent had been set aside, His Majesty
The concession
was to receive one quarter of the profits.
affected the position of tobacco - growers, sellers, and
smokers alike ;
and in Persia both men and women
smoke regularly. Its gross unfairness was aggravated
by the fact that many of the employes were drawn from
a somewhat low class and by the lack of tact displayed j
in dealing with Persian rights. In short, first public in-
and then fanaticism was aroused.
I
dignation
Hasan Shirazi, the leading divine, placed an interdict on
Haji Mirza
smoking, and the order was obeyed throughout the land,
the royal palace being no exception. Finally,
after disturbances
had broken out and intense hostility had been
displayed towards Europeans, the Shah cancelled the concession
and agreed to pay compensation.
The Assassination of Nasir-u-Din, 1896. By Moslem
calculation Nasir-u-Din had reigned
for fifty years
in
1896. Preparations were being made to celebrate the
1
On the constitution of the Bank, de Renter recovered his caution-money he also
;
received a premium of 2 per share when the capital was issued. I have to thank Mr.
G. Newell, Chief Manager of the Bank, for the above information.
2
The mining rights were sold to the Persian Bank Mining Rights Corporation in
1890, which proved a failure.