Sassoon Eskell - Ministerial Office

Ministerial Office

When Faisal I was enthroned as King of Iraq, a new ministry was formed on 1 September 1921 by Prime Minister Abd Al-Rahman Al-Naqib in which Sir Sassoon was re-appointed Minister of Finance. He was consequently re-appointed Minister of Finance again in five successive governments until 1925 of Abd Al-Rahman Al-Naqib, Abd Al-Muhsin Al-Sa’dun and Yasin Pasha Al-Hashimi.

Gertrude Bell described Sir Sassoon’s ministerial qualities in another letter dated 18 December 1920:

“The man I do love is Sasun Eff. and he is by far the ablest man in the Council. A little rigid, he takes the point of view of the constitutional lawyer and doesn't make quite enough allowance for the primitive conditions of the 'Iraq, but he is genuine and disinterested to the core. He has not only real ability but also wide experience and I feel touched and almost ashamed by the humility with which he seeks - and is guided by - my advice. It isn't my advice, really; I'm only echoing what Sir Percy thinks. But what I rejoice in and feel confident of is the solid friendship and esteem which exists between us. And in varying degrees I have the same feeling with them all. That's something, isn't it? that's a basis for carrying out the duties of a mandatory?”

And again in correspondence dated 7 February 1921:

“I do love Sasun Eff; I think he is out and away the best man we've got and I am proud and pleased that he should have made friends with me. He is an old Jew, enormously tall and very thin; he talks excellent English, reads all the English papers, and is entirely devoid of any self-interest. He has no wish to take any further part in public life but he says he is convinced that the future of his country - if it is to have a future - is bound up with the British mandate and as long as we say he can help us he is ready to put himself at our service. He made a very considerable name in the Turkish Chamber where he sat as a strong Committee man. Some day I mean to make him tell me all he really thought about the Committee. One can talk to him as man to man, and exchange genuine opinions”

During his period as Minister of Finance, Sir Sassoon founded all the financial and budgeting structures and laws for the Kingdom and looked whole-heartedly after the interests of the monarchy and the proper fulfilment of its laws. Rather famously, one of his most financially prolific deeds for the State was during negotiations with the British Petroleum Company in 1925. Through a pure stroke of genius and foresight, Sir Sassoon demanded that Iraq’s oil revenue be remunerated in gold rather than the pound sterling. At the time, this request did seem bizarre since sterling was backed by the gold standard anyway. Nevertheless his demand was reluctantly accepted. Later this concession benefited Iraq’s treasury during World War II, when the gold standard was abandoned and the pound sterling plummeted. He thus secured countless additional millions of Iraqi dinars for the State. This is something that the Iraqi nation remembers with appreciation and admiration.

In 1925 he was elected deputy for Baghdad in the first parliament of the Kingdom and was re-elected to all successive parliaments until his death. In the Iraqi parliament he was chairman of the financial committee and was regarded as the Father of Parliament, in light of his vast parliamentary knowledge, depth of experience and venerable age. His advice was taken on all parliamentary matters. He arbitrated and his views were accepted, whenever a conflict arose concerning the enforcement of internal regulations. He was a far-sighted statesman with a profoundly deep knowledge of Iraq and other countries. He was immensely well travelled and was well acquainted with most major European statesmen of the time.