"بلاد فارس والشأن الفارسي من إعداد السيد المحترم جورج ناثانييل كورزون، عضو البرلمان." [‎٤‎٧‎٧] (٧١٤/٥٣٦)

INSTITUTIONS AND REFORMS
477
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has so far attended, or may be expected to attend, their labours
all these are questions which will more appropriately find an
answer in a later chapter dealing with the natural resources of
Persia. I here turn to the history of the bank since its formation,
and proceed to show how, up till the present time (winter of
1891-2), it has sustained the expectations of its founders or justi
fied the confidence of its shareholders. 1
At the time of my visit to Teheran, the Imperial Bank had
just commenced business, having acquired premises in the street
Opening of wheiein stands the British Legation. A competent
premises mana ger had been secured in the person of Mr. Eabino,
a gentleman long and honourably connected with the Credit
Lyonnais in Cairo; and the relations of the bank with the Persian
Government were in the capable hands of General Houtum
Schindler, whom my readers will long ago have learnt to regard
as a sort of deus ex machina required to assist in the solution of
most Persian problems. Early in 1890 the directorate of the
bank came to terms with the New Oriental Bank Corporation,
of which I have already spoken, and for the sum of 20,000Z. pur
chased the lease of their premises in Teheran, as well as the Corpora
tion's goodwill, furniture, appointments, &c.
I have previously mentioned among the rights conceded by the
Shah to the Imperial Bank, the monopoly of issuing bank notes.
Monopoly ^ stipulated that the amount so issued should not
of bank exceed 800,000Z. without the knowledge and assent of
the Persian Government; and that for two years the bank
should keep a cover in specie of fifty per cent., and afterwards of
thirty-three per cent.
This is not the first time in history that bank notes have been
introduced into Persia. Just GOO years ago the scheme was
Ancient ex-
attempted by one of the Mongol sovereigns of the house
K ent of Jenghiz Khan, who succeeded that conqueror upon
Mongol the throne of Iran. This was Kei Khatu (1291-94 a.d.),
the brother of Arghun Khan, or Argawan Shah, and grandson
of Hulaku Khan. It was he who was ruler in Persia when
Marco Polo came from the distant court of Kublai Khan with
the Tartar bride intended for his brother. Kei Khatu had heard
1 Vide a most valuable paper on ' Banking in Persia,' by J. Rabino, with notes
by A. H, Schindler, read before the Institute of Bankers in December 1891. An
extract from it is quoted at the end of this chapter.
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