The inscriptions are:
In the cartouches: be-'ezz-e ayeh-ye tattahur va dhat-e lam yalid , zafar be-jomleh-e-ye a'da tora dahad khoda , ala khodat konad yari o rasul madad , be-fazl-e nosrat o fath o zafar khabarat dahad (By the might of the [Qur'anic] verse of purity (perhaps sura I) and the essence of 'He begotteth not' (surat al-ikhlas (CXII, parts of 3) , May God bestow you victory over all enemies , Ho ! May God assist you and the Prophet Help , May God give you the news of victory, success and triumph through his favour)
The dates given are 1332 and 1333 in Persian numerals, 1914 and 1915 in western.
In the centre, against a starry backdrop that might be a constellation: ya iqbal be-farma mosavat azadi va taraqqi bi-hesab (O Good-fortune ! Command countless (?) Equality, Liberty, and Progress)