391.51/562: Telegram

The Minister in Iran ( Dreyfus ) to the Secretary of State

285. Another currency crisis has been narrowly avoided by two factors. First, arrival by air from England of 250,000,000 rials of new currency local supply said to be exhausted and second, British approval of the second alternative given in my telegram 223, March 1st, which will permit immediate delivery of British gold to Iran Government and the issue without delay of new currency against sales of sterling.

Dreyfus