Persian Empire 1845

Chapter 189 Grand Vizier
“Shah, this is the current investment situation.”

Hatami, acting as the one assisting the Shah in managing his assets, presented Nasser al-Din with a report on the current state of the family's wealth. By this time, the royal family had already invested over 2000 million riyals abroad. The returns were also impressive, with investments in the East generating over 200 million riyals in profit for the Shah annually.

Thanks to the expansion of trading companies in Shanghai, Iran sold over 700 million taels of silver, equivalent to 1750 million rials, to the Tianjing regime. Nasser al-Din received over 400 million rials from this.

In addition, the bank's revenue provided 100 million riyals. Local trade also contributed 100 million, which can be withdrawn directly. The rest is deposited in Shanghai for investment in other areas.

"Let the funds from the East be invested in the Persian Bank; all investments in the New World need to be handled by him."

These funds came not only from royalty, but also from Iranian nobles and Arab tribes. Most of them were unaware of where to invest, so they hitched a ride on the royal family's coattails, entrusting the royal family to invest on their behalf and reap the profits.

Through profit and prestige, Naserdin expanded his authority. The nobles lost their will to resist; as long as the royal family could continue to lead them to make more money, they would not rebel.

Moreover, Nasser al-Din not only invests abroad, but also funds numerous projects within Iran. These include the Baku oil research facility, the expansion of Tehran University, student exchange programs, and the development of national healthcare institutions. Earning money is not just for enjoyment, but also for the faster development of the country.

“Our largest investment in New Continent is also the Mexican railway company, where we have a significant share after a share expansion.”

Naserdin felt that his financial resources were insufficient. He had a lot to do, and the funds were still not enough. He wondered if he should go to India and take a few more temples.

Just then, Pezeshkian rushed in, holding a piece of paper in his hand.

"Shah, a mutiny has occurred in India."

If it were just an ordinary mutiny, it wouldn't be a big deal, but this mutiny spread throughout western India.

After the Crimean War, Britain faced a £3200 million deficit. But Downing Street remained unperturbed, deciding to leave the burden to their jewel—India.

The East India Company imposed even more taxes and forced farmers to plant cash crops, destroying farmland. This became unbearable for many farmers, especially in the western regions, where resentment towards British rule led to uprisings.

The Indian army began to suppress the rebellion, but these soldiers could not withstand the oppression of the British. What's worse, in order to cut costs, their salaries were halved.

Why listen to the British when everyone is struggling to survive? Centered on Lahore, uprisings erupted across India.

The uprising also broke out in Meerut, 40 miles from Delhi. Soldiers shot British officers, stormed prisons, released prisoners, and set fire to government buildings. The next day, the insurgents occupied Delhi and declared themselves emperors of the Mughal Emperor Bahadur Shah II, thus greatly increasing their support. Soldiers and civilians from all over responded, and the flames of the uprising quickly spread throughout almost all of northern and central India.

"Will this affect our borders?"

"At present, no."

This uprising came a little too early; it should have started with lard and butter bullets, but unfortunately it didn't.

"Now the British are going to get restless."

India was in turmoil, and the British government would certainly intervene to resolve the situation. Moreover, due to the Crimean War and diplomatic affairs with Qing China, their attention to India was far less than before. This led to such an uprising. "Keep a close eye on the situation. Have the Grand Vizier take notice of the border between our country and India. Whoever it is, except for the British, deal with them on the spot."

Iran can't interfere in India's affairs, so it should just wait quietly for Britain to resolve them; it should be soon.

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Amir is also closely monitoring what is happening in India, and Rouhani has ordered border troops to assemble to prevent any potential attacks.

"Now we must be careful of India to prevent Britain from finding a pretext."

At the cabinet meeting, Amir briefed the other ministers on the current situation. With the Shah absent, he had to take charge of Iran.

"We have already stationed troops at the border, so Grand Vizier need not worry. With me here, they will not affect Iran," Rouhani said confidently.

"I believe you, General Rouhani."

Iran now needs to focus on strengthening its internal capabilities. Due to the Ottoman threat, the Iranian military not only cannot stop its development but must accelerate it, aiming to have 22 soldiers by 1860 and be able to recruit 30 well-trained reservists. This will require significant financial resources.

Currently, Iran's external debt is 6000 million rials, and its internal debt is 4500 million rials. It would take two years of not eating or drinking to repay this debt. However, the Crimean War also had considerable effects. After the abrogation of the Treaty of Turkmenchai, Russian goods had to pay higher tariffs to be imported, effectively protecting Iranian goods. Furthermore, gaining access to the Black Sea shortened Iran's export time by one-third.

These things all demonstrate that Iran's economy is developing rapidly, not to mention other things.

"Alright, next topic... allowing the establishment of private banks?"

Amir glanced at the Minister of Industry and Commerce, who said, "This issue was raised by the Federation of Industries. They believe that Iran now needs to allow banks to play a greater role. The reason why the United States has been able to achieve such great industrial development from its founding to the present is because banks have played an important role in it."

While Iran's economy is currently developing well, relying solely on government efforts is insufficient. Private capital will play a crucial role.

Amir had a headache; why did this topic come up again? He had no choice but to continue his persuasion.

"I acknowledge the importance of private investment to the national economy, but there is not enough private investment in Iran, even with the help of banks, it is still not as good as that of Britain, France and the United States."

Furthermore, it takes several years for the public to see returns on their investments, and the government's role is to help them ensure profitability. As for banking operations, currently no one in the country can handle the business of a single bank; for the sake of all citizens, the government must control the entire banking and insurance industry.

However, the Federation of Industries' request is also valid. First, Iran today is not the Iran of the past. After nearly a decade of development, a group of people in Iran have become wealthy through industry and commerce, and their capital and experience are sufficient to enter the banking sector.

Moreover, the world's banking industry is currently dominated by Jews or Christians. There isn't enough Crescent Moon bankers, and this lack of influence is detrimental to the future of Shia communities. Now is a good opportunity. By relaxing banking regulations, Shia bankers can be encouraged to develop and compete with Jews for influence.

(End of this chapter)