The Persian is a dreamer by nature; he cannot be said to be absolutely lazy, for he is always absorbed in deep thought—what the thoughts are it does not do to analyse too closely—but he devotes so much time to thinking that he seldom can do anything else. His mind—like the minds of all people unaccustomed to hard work and steady, solidly-built enterprise—runs to the fantastic, and he ever expects immense returns for doing nothing. The returns, if any, and no matter how large they may be, are ever too small to satisfy his expectations.

As for time, there is no country where it is worth less than to the natives of Persia. The mañana of the Spaniards sinks into perfect insignificance when compared with the habits of the land of Iran. Punctuality is unknown—especially in payments, for a Persian must take time to reflect over everything. He cannot be hurried. A three months' limit of credit—or even six months—seems outrageously short in the eyes of Persians. Twelve months and eighteen, twenty, or twenty-four months suit him better, but even then he is never ready to pay, unless under great pressure. He does disburse the money in the end, capital and interest, but why people should worry over time, and why it should matter whether payment occurs to-day or to-morrow are quite beyond him.

If he does transact business, days are wasted in useless talk and compliments before the subject with which he intends to deal is incidentally approached in conversation, and then more hours and days and weeks, even months have to elapse before he can make up his mind what to do. Our haste, and what we consider smartness in business, are looked upon by the Persian as quite an acute form of lunacy,—and really, when one is thrown much in contact with such delightful placidity, almost torpor, and looks back upon one's hard race for a living and one's struggle and competition in every department, one almost begins to fancy that we are lunatics after all!

The Arrival of a Caravan of Silver at the Imperial Bank of Persia.

The Persian must have his hours for praying, his hours for ablutions, more hours for meditation, and the rest for sleep and food. Whether you hasten or not, he thinks, you will only live the number of years that God wills for you, and you will live those years in the way that He has destined for you. Each day will be no longer and no shorter, your life no sadder and no happier. Why then hurry?

Amid such philosophic views, business in European fashion does not promise to prosper.

Unable to attach a true meaning to words—his language is beautiful but its flowery form conduces to endless misunderstandings—casual to a degree in fulfilling work as he has stipulated to do it; such is the Persian of to-day. Whether the vicissitudes of his country, the fearful wars, the famines, the climate, the official oppression have made him so, or whether he has always been so, is not easy to tell, but that is how he is now.

Besides all this, each man is endowed with a maximum of ambition and conceit, each individual fully believing himself the greatest man that ever lived and absolute perfection. Moreover the influence of Mullahs is used to oppose reform and improvement, so that altogether the economic development of production, distribution and circulation of capital is bound to be hampered to no mean extent. On examining things carefully it seems almost astonishing that the trade of Persia should be as well developed as it is.

Another difficulty in the way is the currency, which offers some interesting lessons, and I am indebted to the author of a paper read before the Statistical Society for the following details.