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The turn of events in Tehran completely frustrated whatever chance there might have been for a loan from Britain in 1898. On 21 July Durand reported that Muzaffar al-Dīn had complained that the loan was not big enough. Hewanted §2,000,000 and he would not increase the security. The Amīn al-Sultān was ‘practically in power’ (he was reinstated on 12 August 1898 as Sadr-iA'zam ), and was working vīgorously against the loan. This is partly explainedby his being himself a farmer of customs from whīch he drew an estimated§ 70,000 annually and so was against any foreign control. The sum which the Shah named could not be raised in London on the security offered. Besides,after the return to power of the Amīn al-Sultān the loan discussions betweenthe British and the Persians took on an air of unreality.
Rose Louise Greaves (Tue,) studied this question.