ight (grains troy) | 142.08 | 71.04 | 30.52 | 15.26
Weight in grains silver | 127.872 | 63.936 | 27.468 | 13.734

The 1857 to 1878 coins were merely one-kran, half-kran, quarter-kran:--

| One kran. | Half kran. | Quarter kran.
---------------------+-----------+------------+--------------
Legal weight | 76.96 | 38.48 | 19.24
Weight in pure silver| 69.264 | 34.632 | 17.316

The older coinage before 1857, a most irregular coin--of one kran--varied
considerably and had an approximate average fineness of 855, an average
weight (grains troy) of 75.88, and a weight in pure silver of grains troy
64.877, which is below the correct standard by no less than 6.76 per
cent.

In the newest coinage of two-kran pieces, the coin most used in
cities,--large payments being always made in two-kran pieces--we have an
average fineness of 892.166; average weight, grains troy, 119.771; weight
in pure silver, grains troy, 124.69, or 2.55 per cent. below the
standard.

In nickel coinage, composed of 25 per cent. of nickel and 75 per cent. of
copper, we have:--

Two shai pieces (grains troy) 69.45
One shai pieces (grains troy) 46.30

The copper coins are in great variety. There is the _abassi_ (one-fifth
of a kran) worth four shais, and very scarce now.

The _sadnar_ (one-tenth of a kran) equivalent to two shais.

The (one) _shai_ (one-twentieth of a kran).

The _pul_ (one-fortieth of a kran), half a shai.

And the _jendek_ (one-eightieth of a kran) a quarter shai; this coin only
found in circulation in Khorassan.

When it is remembered that at the present rate of exchange the kran can
be reckoned at fivepence in English money, and the toman as roughly
equivalent to one American dollar, it will be seen that the subdivisions
of the kran are rather minute for the average European mind.

[Illustration: The Imperial Bank of Persia Decorated on the Shah's
Birthday.]

Yet there are things that one can buy even for a _jendek_; think of
it,--the fourth part of a farthing! But that is only in Khorassan.

FOOTNOTES:

[1] I understand this figure has since considerably increased.

CHAPTER XIV

The Banks of Persia--The Imperial Bank of Persia--The most
revered foreigner in Persia--Loans--The road concession--The
action of the Stock Exchange injurious to British
interests--Securities--Brains and not capital--Risks of importing
capital--An ideal b