The Persian Parliament accepted on Tuesday the proposals of the
Government for raising a foreign loam, and at the same time employing Europeans to reorganise the Finance Depart- ment. The money must in the circumstances be borrowed from Great Britain and Russia, a fact which greatly emphasises the utility of the Anglo-Russian Agreement. At the time of its formation there were many who prophesied that it would lead directly to the break-up of Persia. We could never assent to this view, and the results are more and more justifying our faith hi the value of the understanding.