to do business
with everybody. "The spirit of free trade alone," said Mr. Rabino to me,
"must animate the management of such a bank. Its services must be at the
disposal of all; its impartiality to English, Russian, Austrian,
Persian, or whatever nationality a customer may belong to, unquestioned.
All must have a fair and generous treatment." The interests of the
Imperial Bank are firstly those of its shareholders, secondly those of
Persia which gives the Bank hospitality.

The Bank has already rendered inestimable services to Persia by diffusing
sound business principles, which the Persians seem slowly but gladly to
learn and accept. That the future of a bank on such true principles is
bound to be crowned with success seems a certainty, but as has often been
pointed out, it would be idle to fancy that a couple of years or three
will remove the prejudices and peculiar ways of thinking and of
transacting business of an Oriental race, whose civilisation is so
different from ours, or that the natives will accept our financial system
with its exactitude and punctuality, the result of ages of experience,
unhesitatingly and immediately.

The Persian requires very careful handling. He is obstinate, and by mere
long, tedious, passive resistance will often get the better in a bargain.
By the employment of similar methods however, it is not difficult to
obtain one's way in the end. A good deal of patience is required and time
_ad libitum_, that is all.

There is no need for a large stock of gold and rubles, but what is mostly
wanted is a greater number of men who might be sent all over the country,
men with good business heads and a polite manner, and, above all, men
well suited to the present requirements of the country.

The Russian, we find,--contrary to our popular ideas, which ever depict
him knut in hand,--almost fraternises with the Asiatics, and in any case
treats them with due consideration as if they had a right to live, at
least in their own country. Hence his undoubted popularity. But we, the
quintessence of Christianity and charity towards our neighbours,
habitually treat natives with much needless harshness and reserve, which
far from impressing the natives with our dignity--as we think--renders us
ridiculous in their eyes. A number of younger Englishmen are beginning to
be alive to this fact, and instruction on this point should form part of
the commercial training of our youths whose lives are to be spent in th