'File 5/1 XIV Kuwait Oil Company' [‎130r] (266/570)

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tied to India than Iraq, since most of her imports come to
her from India. The purchase price of rupee cheques rises
at times even as hi.^i as Hs.lOB per Rs.lQO cheque.
(d) Vith regard to your remarks about specie, the
exports of specie quoted in my reports must be set against
the large sums coming in from
(i) pearls sold for cash in Bahrain,
(ii) the carrying trade in the Indian Ocean
estimated at Rs.1,000,000 for one year 1935,
(see my Intelligence Report No.9 of 1936 )•
No exact figures are available since rupees Indian silver coin also widely used in the Persian Gulf. are not imported
ss "specie"*
(e) Two years ago Ibn Baud legalized the tendering of
rupee in Saudi Arabia since vdien rupees Indian silver coin also widely used in the Persian Gulf. have gone in that
direction, e.g. against sheep sold to Kuwaitis, but o ving
to the blockade do not return readily*
(f) The Kuwait Oil Company is, - as individuals in
the Company have pointed out to me - responsible fo r a
wider distribution ofmofley*
(g) Probably owing to better communications there is
an increasing confidence in and exchange of cheques on
T ^^ia in Kuwait, without movement of coin in Kuwait, e.g*
between Kuwaiti pearl merchants and Kuwaiti importers*
More Kuwaitis than heretofore own property in Bombay.
(h) Rupees Indian silver coin also widely used in the Persian Gulf. at one time
Retiee-ifi-is^-kav-e-gsadualiyalwayB available at short
notice in Iraq have gradually, since the change in the Iraqi
currency, become rarer there*
you are aware, it is always difficult to trace
to their ultimate source various and some times conflicting
financial currents, but I think I have Slven you all the
more obviously relevant facts.