Shah Mohammed Reza Pahlevi, of Iran, who returned to power a few days ago after having fled his country because of his fear that weepy Premier Mohammed Mossadegh would dethrone him, told the world — at a press conference — that his country is in “desperate need” of financial assistance.

The people of Iran —who are in “desperate need” — walk daily over what probably are the richest oil deposits in the world. Those oil deposits — under the direction of the Anglo-Iranian Oil company — gave Iran plenty of money.

But the greedy Mossadegh was not satisfied to let well enough alone he wanted a bigger share of the profits of the big oil industry.

So he nationalized the oil fields and refineries. The British experts who had turned the oil into cash stopped work and the goose that laid the golden eggs for Iran lapsed into a coma.

Since the oil industry in Iran was nationalized about two years ago, the Iran government has exported 103,000 tons of oil — the equivalent of about the sales for a single day by the Anglo-Iranian Oil company before Mossadegh took over the oil business.

And the seizure of the oil industry has cost the Iran government four million dollars a month in revenues it received from the industry before Premier Mossadegh tried to get more money out of it — and four million dollars a month for two years adds up to 96 million dollars Iran has thrown out the window by Mossadegh’s greedy action.

Shah Pahlevi can supply the “desperate need” of his country promptly by giving the British back their oil properties on sensible and reasonable terms.

If the United States or any other nation, lends money to Iran — and it is likely that the United States will offer an emergency loan — that nation should insist that Iran start immediately negotiations for a fair settlement of the oil dispute.

Iran is bankrupt — and the reason is obvious.

But there is no good reason why Iran should remain bankrupt — its people have underfoot great wealth if they have sense enough to re-utilize it!