"دليل الخليج. مجلد I. القسم التاريخي. الأجزاء Iأ و Iب. ج.ج. لوريمر ١٩١٥" [‎٧‎٦] (١٧٨٢/٢١٩)

76
time by the Armenians, and to request a Farman for exporting silk from
Bandar 'Abbas; but silk could now be obtained in Bengal at about half
of the prices current in Persia, and the matter had thus lost some of its
importance. In 1698 the Armenians, who had entered into an agreement
to take all the Company's cloth for the year, refused to give security for
payment, with the result that the contract was annulled and that the
Company's servants had to make new arrangements.
Flourisliing In 1700, in consequence of the Act imposing additional duties on
East India finished tissues from the East and also of a demand for raw si!k in
trade^not- England, the Company began to give more attention to the unwwked
feilur^'of in ^ ar ticle; the Persian trade was good ; and, though the only commolities
their silk and ggJeajjle were looking'-g'lasses and cloth, and fresh dilliculties with the
cloth scheme, 0 0
1700-06, Armenians arose, a whole vessel was required to carry away from
Bandar 'Abbas the silks, chintzes and Kirman wool that had been
accumulated. In 1701, as a war in Europe was apprehended by
which Italian and Spanish commerce might suffer, the Compaiy's
servants in Persia were instructed to procure all the raw silk, Kiman
wool and drugs that they could, in order to profit by the expected rie in
the European market. In 1705 it was reported from Persia that 4800
pieces of cloth could be sold annually in Persia if the trade were excluive,
and half that quantity so long as competition through Turkey and
Russia continued; but it was found that the system of bartering coth
for silk would not answer, on account of the high export duties on
silk, and that purchases could be made more advantageously with money;
in other words the Company's scheme of diverting the entire silk trade to
the Gulf, and of carrying it on without money by barter of cloth, hsd
proved a failure. In 1706 trade in Persia was very good; the greater
part of the Company's stock of cloth was sold at a profit of 16 per cent.;
and larger purchases than usual of Persian produce were made.
The trade The proceedings of the East India Company in 'Iraq during this period
'Iraq, U 1653- are described in the separate history of that province. The provi-
172^. sional Factory established at Basrah about 1643 apparently ceased to exist.
in 165 7 j and, during the remainder of the period, trade with Basrah was
maintained by ships specially sent to that port from Surat in charge of
servants of the Company. By the famous Capitulations of 1661, modified
in 1675, the position and trade of British subjects in the Turkish Empire
were placed on a sound footing.