Page:Statesman's Year-Book 1871.djvu/71

 REVENUE AND EXPENDITURE.

35

Descriptions of Debt

Nominal Capital

Annual interest

Original

Paid-off

Remaining on 1st June, 18G9

2i% Old Debt. .

3% of 1838 & 1846.

U% 1st series, 1844 ~ 2nd „ 1844 „ 3rd „ 1853 „ 4th „ 1857 and 1860. . . „ 5th „ 1865 „ 6th „ 1867

Total. .

£

Francs

389,417,631

58,474,800

95,442.832

84,656,000

157,615,300

69,382,000 59,325,000 58,540,000

Francs

169,312,000 42,133,800 39,978.649 17.147,500 16,158,400

3,486,600 612,600

Francs

220,105,631

16.341,000

55.464,182

67.508,500

141,456,900

65,895,400 58,712,400

58,540,000

Francs

5,502.640 490,230

y>0, 140,983 J

972,853,563 38,914,142

288,829,549 684,024,013 : 26,133,853 11,553,182 27,360,960 1 1,041,354

The 'l\% old debt, and the 2nd series of the A\% debt, repre- sent the share which Belgium had to take in the national liabilities of the Netherlands, after separating from that kingdom. Almost the entire remainder of the debt of Belgium was raised for, and devoted to works of public utility, particularly the construction of state rail- ways. There is a sinking fund attached to all descriptions of the debt, with the exception of the 2-|% old debt, the capital of which was reduced, in 1844, to the amount of 169,312,000 francs, from the pro- ceeds of the 1st series of the 4-|% loan. The whole of the 3% debt will become extinguished at the end of 1876. By a law passed on the 12th of June, 1869, the government was authorised to reduce the fixed annual payments out of the sinking fund for the whole of the 41% debt, to a sum representing one-half per cent, of the nominal capital of this debt, in circulation on the 1st of May, 1869. It is calculated that the amount spent on productive public works, rail- ways, roads, and canals, exceeds the sum total of the public debt of Belgium.

Army.

The standing army is formed by conscription, to which every able man who has completed his nineteenth year is liable. Substitution is permitted. The legal period of service is eight years, of which, however, two-thirds are allowed, as a rule, on furlough. According to a law passed on the 5th of April, 1868, the strength of the army is to be of 100,000 men on the war-fouting, and of 40,000 in times of peace. The war- footing is prescribed to be as follows, rank and file:—