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TURKEY AND THIBUTARY STATES: — EGYPT

Revenue

■J 911 £E

1912 Estimates^

Expenditure

1911 £E

1912 Estimates

Direct taxes :

E£

£E

Land tax, &c.

5,528,174

5,624,000

Civil List ....

281,720

280,496

Indirect taxes :

Expenses of Administration

4,901,008

5,361,747

Customs.

2,108.779

1,840,000

Expenses of Revenue Earn-

Tobacco.

1,008,568

1,500,000

ing Administrations :

Miscellaneous

Railways ....

2,070,704

2,179,891

taxes

140,612

148,000

Telegraphs

109,926

113,285

Receipts from

Post Office

279,998

2^4,606

Revenue earn-

Army:

ing Adminis-

Egyptian Army

673,839

715,817

trations :

Army of Occupation

146,250

146,250

Railways

3,728,894

3,445,000

Pensions ....

500,739

550,000

Telegraphs

126,966

118,000

Tribute and Debt :

Post Office.

312,333

300 000

Tribute ....

665,041

665,041

Receipts from

Expenses of Caisse de la

Administrative

Dette ....

34,984

35,000

Services :

Consolidated Debti.

3,552,260

3,552,266

Ports and

Non-Consolidated Debt.

336,396

346,145

Lighthouses

420,801

375,000

Soudan Deficit.

360,000

335,000

Ministry of

Sundries. . i.

102,871

102,456

Justice

1,428,001

1,355,000

Miscellaneous

Revenue

1,203,622

1,135,000

Total Ordinary Expen-

" '

diture

14,137,802

14,668,000

16,792,750

15,900,000

Special Expenditure.

Total ....

734,253

14,872,055

732,000

Total.

15,400,000

1 Exclusive of the Domains Loan.

The foreign debt of Egypt began in 1862, when loans amounting to 3,292,800^. were issued for the purpose of extinguishing the floating debt. Other issues followed in rapid succession. The dual control by England and France began in 1879. In January, 1880, the two Controllers-General reported that Egypt could not possibly meet her engagements in full, and in July the Liquidation Law, in accordance with the recommendation of an Inter- national Commission of the Gi'eat Powers, was promulgated. By this law the Unified debt was reduced to 4 per cent, interest ; further conversions were made, and the Unified debt thus increased to 60,958,240^ ; certain unconsolidated liabilities were added to the Preference debt, which thus rose to 22,743,800Z. ; and the Daira Sanieh debt was increased to9, 512,900Z. , the interest being reduced to 4 per cent. In 1885 and subsequent years further loans and conversions were entered into.

On October 15, 1905, the Daira Sanieh Loan was paid ott^. The condition and the charge of the various debts in January, 1912, was as follows : —

—

Debt

Charge

Guaranteed Loan, 3 per cent. . Privileged Debt, 3^ per cent. Unified Debt, 4 per cent. . . Domains Loan, 4^ per cent.

Total

£E

7,318,500

. . 31,127,760

55,971,960

203,420

94,021,000

£E 307,125 1,062,235 2,182,906

8,429 •

3,560,695