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'File 8/2 II Gold Smuggling' [50r] (99/120)
The record is made up of 1 file (58 folios). It was created in 9 Jun 1946-14 Dec 1949. It was written in English. 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.
British Legation,
Beirut,
O.i'.B, 181 23rd Septerioer, 1549-
(i456/VU9)
COMFinBKriAL
Sir ?
I liRve t *3 honour to report that the traffic in gold i^ars
and sovereigns thi^o'jgh Beirut in 'transit lias shown signs of a narked
increase in volixie since the prohibition of the export of gold fron
Mexico in mid 1947.
2 . _ Altliough local gold merchants are ‘reluctant to divulge
poj. ciculai o Ox preoeno soux^ces or supplg and destinaGion 0 . eiruG
banlcer, who as far as I an aware is not himself engaged in the traffic
’nas provided me in confidence with the follorvvijv- account of iia.v it
operates.
(i) Gold bars fran Holland and other con.tines.ital countries ?
ti^e United States, Colonbia and Argentine are mipcrted
by Beirut merchants into Beirut port free zone against
payment in dollars.
(ii) The gold bars are re-exported to Hov^ait against payment
in sovereigns which are inpa^ted into Beirut in ti*ansit t
(lii) The gold .oars ex Kowait are sold against so^/ereigns in
India, wnere it is reported that gold in bai's is 204
cheaper than in sovereigns.
(iv) The sovereigns ex Beirut are sold in Switzerland against
payment in dollars or Swiss francs, (The Beirut merchant
is reported to r.ialce a net profit of •£,Lcb. 1.00 per sovereign-
cn the transaction to this nonent frai the time of purchase
of the gold bars.)
(v) m Switzerland sovereigns are bought by Tepline (Trails-
Arabian Pipeline Oanpany) against payment in dollars, and
uhe former ere paid to Ssudi-Arabia in respect of royalties*
/(vi)
The Under Secretary,
CcTtiiiercial .Relations and TScp^rts Department*
Board of Trade,
Millbanl:,
imm, s,w # i.
About this item
- Content
This file contains correspondence relating to efforts to control the gold smuggling trade between India and the Middle East by way of the Persian Gulf The historical term used to describe the body of water between the Arabian Peninsula and Iran. , and Kuwait in particular. The emphasis in the papers is on the various ways through which the gold is sourced around the world, particularly other parts of the Middle East, such as the Levant A geographical area corresponding to the region around the eastern Mediterranean Sea. . This is in contrast to previous periods when concern with gold smuggling primarily focused on Indian sources of contraband gold. The correspondence is primarily between the Political Agency An office of the East India Company and, later, of the British Raj, headed by an agent. in Kuwait, the Political Residency An office of the East India Company and, later, of the British Raj, established in the provinces and regions considered part of, or under the influence of, British India. in Bahrain, and the Government of Kuwait.
- Extent and format
- 1 file (58 folios)
- Arrangement
The papers are arranged in approximate chronological order from the front to the rear of the file.
- Physical characteristics
Foliation: the foliation sequence for this description commences at the front cover with 1, and terminates at inside back cover with 60; these numbers are written in pencil, are circled, and are located in the top right corner of the recto The front of a sheet of paper or leaf, often abbreviated to 'r'. side of each folio. A previous foliation sequence, which is present between ff 28-59 and is also circled, has been superseded and therefore crossed out.
- Written in
- English in Latin script View the complete information for this record
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'File 8/2 II Gold Smuggling' [50r] (99/120), British Library: India Office Records and Private Papers, IOR/R/15/5/310, in Qatar Digital Library <https://www.qdl.qa/archive/81055/vdc_100034102601.0x000064> [accessed 28 March 2025]
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Copyright: How to use this content
- Reference
- IOR/R/15/5/310
- Title
- 'File 8/2 II Gold Smuggling'
- Pages
- front, front-i, 2r:6v, 9r:13v, 16r:26v, 28r:54v, 56r:59v, back-i, back
- Author
- East India Company, the Board of Control, the India Office, or other British Government Department
- Usage terms
- Open Government Licence