Page:Statesman's Year-Book 1899 American Edition.djvu/1439

 FINANCE

1083

Branches of Expenditure.

Average.

1897-98

Military departments {continued) :

iET


 * £T

Gendarmerie. , . . ,

1,254,174

1,013,944

Marine ......

653,170

546,209

Artillery .....

552,122

462,177

Civil departments :

Grand Vizierate, State Council,

Interior ....

901,853

989,322

Finance .....

583,939

668,011

Justice

450,541

461,441

Other departments

Total ....

1,892,137

1,707,269

19,796,182

18,429,411

The estimates for the year 1897-98 thus show a surplus of £T81,912. The estimated expenditure presupposes retrenchment, esjiecially in the military department. No provision is made for extraordinary expenditure. On the other hand, revenues to be derived from monopolies and the increase of customs re- ceipts consequent on new commercial treaties have not been taken into account.

The Report on Turkish finance presented to the Sultan by Sir Edgar Vin- cent in December, 1896, (leaving out of account the revenues assigned to the Debt Administration and the corresponding expenditure) puts the revenue under the control of the Ministry of Finance in the year 1306 (1890-91) at £T14,368,700 and the ordinary expenditure at £T14,137,940, showing a sur- plus of £T230,760 on the ordinary budget. In that year, however, the extra- ordinary expenditure, chielly for military pur})0ses, amounted to £T779,000, so that on the whole there was a deficit of £T548,200. For succeeding years up to 1311 (1895-96) the annual deficit is put at £T1, 000,000 which was met by loans less, however, in amount than the sums which went towards the sinking fund. On the basis of these results, the normal revenue for future years at the disposal of the Ministry of Finance is estimated at £T13,961,700, and the corresponding expenditure at £T15,354,000, the prob- able deficit being £T1,392,300, a deficit which by administrative and financial reforms may, it is stated, be easily avoided. The customs revenue for 1894-95 amounted to £T2,123,580 ; for 1895-96, £T1, 876,416.

The following table shows the course of Turkish indebtedness : —

Year of

Original

Converted

Year of

Original

Inter-

Purpose

Issue

Amount

into

Issue

Amount

est

£

£

Pr. cent

1854

5,000,000

1S94. 3Jl 1..C.

1885

930,000

7

Railway

1SJ5

5,000,000

1886

5,909,080

5

Bank Payni.

1858

5,000,000

1881. A.

1888

1,500,000

5

18G0

2,037,220

— B.

1890

7,827,240

4

Convei'sion

1862

8,000,000

— A.

1890

4,545,000

4

Consolid.

1803^

6,000,000

— B.

1891

0,316,920

4

Conversion

1865

6,000,000

— C.

1894

900,000

4

Tunibeki Co.

1865

87,200,0001

— D.

1894

8,212,340

H

Conversion

1869

2,480,000

1894

1,600,000

4

liailway

1869

22,177,220

1S81. C.

1896

2,975,200

Financial

1871

5,700,000

1894. 3i l-.c.

1870-72

32,000,0001

1881. D.

1872

11,126,200

— B.

1873

27,777,780

- C

1877 ■

5,000,000

1891. 4 1I.C.

1878

7,427,260

1890. 4i).c.

1 Approximate.