repayment of the present loan with continuity of all conditions stipulated in the said contract, and with priority over all debts other than the 1911 loan and subsequent advances made by the British Government. In case of insufficiency of the receipts indicated above the Persian Government undertakes to make good the necessary sums from other resources, and for this purpose the Persian Government hereby assigns to the service of the present loan, and of the other advances above mentioned, in priority and with continuity of conditions stipulated in the aforesaid contract, the customs receipts of all other regions, in so far as these receipts are or shall be at its disposal.

IV. The Persian Government will have the right of repayment of the present loan at any date out of the proceeds of any British loan which it may contract for.

Done in duplicate at Tehran this 9th day of August, 1919, corresponding to the 12th day of Zighade, 1337.

VOSSUG-ED-DOWLEH.
P. Z. COX.

*Article 5 of the Contract between the Persian Government and the Imperial Bank of Persia relating to the Persian Government Five per Cent. Loan of 1,250,000l. of May 8,

1911.

5. THE Imperial Government of Persia specially assigns to the service of the loan, and as a first charge thereon, subject only to prior charges amounting to 15,714. 18. 10d. per annum for three years, and 30,2781. 128. 7d. per annum from the year 1913 to the year 1928. The full net customs receipts of every description which the Government now is, or at any time hereafter may be, entitled to collect and receive at all ports or places in the Persian Gulf, including Bushire, Bunder Abbas, Lingah, Mohammerah, and Ahwaz, which receipts are hereby made payable to the bank, and the Imperial Government of Persia hereby engages forthwith after receipt thereof to pay to the bank all such customs receipts as aforesaid without deduction other than for actual expenses and administration of the customs of the said ports disbursed prior to the date of such payment.

(a.) The Imperial Government of Persia undertakes that throughout the continuance of the loan all sums collected by the Customs Administration shall be paid to the bank at the ports of collection, or at its nearest branch, week by week

See page 761.

for meeting the prior charges referred to above and for the service of the loan, and an account of such receipts shall be submitted to the Persian Government by the bank at the end of each month.

(b.) The bank shall; out of the moneys so collected, pay the prior charges above mentioned, and the interest and sinking fund of the loan, and shall hold the surplus at the disposal of the Imperial Government of Persia.

(c.) The bank undertakes, out of the moneys so received, to pay on behalf of the Imperial Government of Persia the half-yearly coupon in London, and supervise the working of the sinking fund and service of the loan free of charges connected with the same.

(d.) In the event of the customs receipts of the abovementioned ports for any three months falling short of the amount required for the prior charges and the service of the loan, either for interest or amortisation, the Imperial Government of Persia binds itself to make good such deficiency from other sources of Government revenue, and further, should receipts from these sources fall below the amount required as above, the Persian Government hereby assigns for this purpose the revenue derived from the receipts of the telegraphs-this assignment to constitute a second charge on the said telegraph receipts up to the year 1928, after which the telegraph receipts will be free.

NOTES respecting British Co-operation with Persia relative to the Revision of Anglo-Persian Treaties, to War Claims, and to the Rectification of the Persian Frontier.-Tehran, August 9, 1919.*

(No. 1.)-Sir P. Cox to His Highness Vossug-ed-Dowleh. British Legation, Tehran, August 9, 1919.

Your Highness,

I TRUST that your Highness has been able, during your successful direction of affairs of the Persian State, to convince yourself that His Britannic Majesty's Government have always endeavoured to support to the utmost the efforts of your Highness's Cabinet on the one hand to restore order and security in the interior of the country, and on the other to maintain a policy of close co-operation between the Persian and British Governments.

As further evidence of the goodwill by which the Cabinet

* From Parliamentary Paper, "Persia, No. 1 (1919).”

of London is inspired, I am now authorised to inform your Highness that, in the event of the Agreement regarding projects of reforms which your Government contemplates introducing in Persia being concluded, His Britannic Majesty's Government will be prepared in due course to co-operate with the Persian Government with a view to the realisation of the following desiderata :

1. The revision of the Treaties actually in force between the two Powers.

2. The claim of Persia to compensation for material damage suffered at the hands of other belligerents.

3. The rectification of the frontier of Persia at the points where it is agreed upon by the parties to be justifiable.

The precise manner, time and means to be chosen for pursuing these aims shall be discussed, practicable, by the two Governments.

as soon as

I have, &c.

P. Z. COX.

(No. 2.)-Sir P. Cor to His Highness Vossug-ed-Dowleh.

Your Highness,

British Legation, Tehran,

August 9, 1919.

WITH reference to the second desideratum indicated in my previous letter of to-day's date, it is understood and agreed between the two Governments reciprocally that, on the one hand His Majesty's Government will not claim from the Government of His Majesty the Shah the cost of the maintenance of British troops which His Majesty's Government were obliged to send to Persia owing to Persia's want of power to defend her neutrality, and that on the other hand the Persian Government will not claim from the British Government an indemnity for any damage which may have been caused by the said troops during their presence in Persian territory.

It is to be understood, however, that this Agreement of the two parties does not in any way affect the claims of individuals and private institutions, which will be dealt with independently.

A note from your Highness informing me that you accept this position on behalf of the Persian Government will suffice to record the agreement of the two Governments on this subject.

I have, &c.
P. Z. COX.

EXCHANGE OF NOTES between Great Britain and Portugal relative to the further renewal of the Arbitration Agreement between the two Countries, signed at London, November 16, 1914.-Lisbon, November 16, 1919.*

(No. 1.) The British Minister at Lisbon to the Portuguese Minister for Foreign Affairs.

Your Excellency,

His Britannic Majesty's Legation, Lisbon,
November 16, 1919.

I HAVE the honour to inform your Excellency that His Britannic Majesty's Government are prepared to renew, for a further period of five years from to-day's date, the Arbitration Agreement between Great Britain and Portugal, signed at London on the 16th November, 1914.†

If the Portuguese Government are equally prepared to renew the Agreement, this note and your Excellency's reply could serve as, and would be sufficient to give legal validity to, this understanding between the two Governments.

I avail, &c.

LANCELOT D. CARNEGIE.

(No. 2.)—The Portuguese Minister for Foreign Affairs to the British Minister at Lisbon.

(Translation.)

Senhor Ministro,

Ministry for Foreign Affairs, Lisbon,
November 16, 1919.

I HAVE the honour to acknowledge the receipt of your Excellency's note of to-day's date, informing me that His Britannic Majesty's Government are prepared to renew, for a period of five years from this day's date, the Arbitration Agreement between Portugal and Great Britain, signed in. Loodon on the 16th November, 1914.

In reply, I have the honour to inform your Excellency that the Government of the Portuguese Republic, while accepting with pleasure the proposal of His Britannic Majesty's Government, are equally prepared to renew the said Agreement for a period of five years. This note and your Excellency's note under reply will serve and will be sufficient to give legal validity to this Agreement between the two Governments.

I avail, &c.

JOÃO CARLOS DE MELLO BARRETO.

From "Treaty Series, No. 4 (1920)." + Vol. CVIII, page 378.

AGREEMENT between the Post Office of the United Kingdom of Great Britain and Ireland and the Post Office of the Kingdom of Spain for the Exchange of Postal Money Orders.-London, October 15, 1918, and Madrid, January 13, 1919.*

ART. I. There shall be a regular exchange of money orders between the United Kingdom of Great Britain and Ireland and the Kingdom of Spain.

II. The money order service between the contracting countries shall be performed exclusively by the agency of offices of exchange. On the part of Spain, the office of exchange shall be that of Madrid, and on the part of the United Kingdom, that of London.

III. The amount of each order exchanged between the two countries shall be expressed in the currency of the country of destination. To this end each of the Contracting Administrations shall have power to fix, from time to time, the rate of conversion applicable to the money orders issued by it, on condition of notifying that rate to the other Administration.

IV. The Post Offices of the two contracting countries shall have power to fix, by mutual agreement, the maximum amount for single money orders issued in their respective countries, but such maximum amount shall not exceed forty pounds (401.) sterling or one thousand pesetas.

V. The British Post Office and the Post Office of Spain shall each have power to fix, from time to time, the rates of commission to be charged on the money orders which they may respectively issue under the present Agreement; but each office shall communicate to the other the rates of commission so fixed and also any modification of them. The commission shall belong to the issuing officer, but the British Post Office shall allow to the Post Office of Spain one-half of one per cent. (per cent.) on the amount of money orders issued in the United Kingdom and payable in Spain; and the Post Office of Spain shall make a similar allowance to the British Post Office in respect of money orders issued in Spain and payable in the United Kingdom.

VI. In the payment of money orders to the public no account shall be taken of sums below 5 centimos or of any fraction of a penny.

VII. The applicant for a money order shall be required to furnish, if possible, the full surname and Christian name (or at least the initial of one Christian name) both of the remitter and of the payee, or the name of the firm or company who are the remitters or payees, and the address

* Signed also in the Spanish language.