Page:The American Journal of International Law - Volume 7, Supplement.djvu/76

60 the two governments, as also their respective subjects, shall be placed toward one another in the identical situation in which they were before the outbreak of hostilities.

Italy pledges herself to conclude with Turkey by the same time the latter shall renew her treaties of commerce with the other Powers, a treaty of commerce on the basis of European public law, that is to say, Italy consents to leave to Turkey all the latter's economic independence and the right, in commercial and customs matters, to act like all other European Powers, and without being bound by the capitulations and other acts, entered into up to this day. It is well understood that the said treaty of commerce shall not enter into force until the treaties of commerce concluded by the Sublime Porte with the other Powers on the same basis shall have been put into effect.

In addition, Italy consents to an increase from 11% to 15% of the ad valorem customs duties in Turkey as well as to the creation of new monopolies or the levying of additional taxes of consumption upon the five following commercial articles: petrole, cigarette paper, matches, alcohol, playing cards. All that, provided equal treatment is applied simultaneously and without distinction to the importations from the other countries.

In so far as the importation of articles forming the object of a monopoly is concerned, the administration of these monopolies is obliged to secure articles of Italian manufacture according to the percentage established on the basis of the annual importations of these same articles, provided that the prices offered for the delivery of the articles of monopoly conform to the market situation at the time of the purchase, taking into consideration the quality of the goods and the average prices which have been current during the three years preceding that of the declaration of war.

It is, moreover, agreed that if Turkey, instead of establishing new monopolies upon the said five articles, should decide to levy extra taxes of consumption on them, these extra taxes shall be imposed in the same measure upon similar products of Turkey and of all other nations.

The Italian Government pledges itself to close the Italian postal offices operating in the Ottoman Empire at the same time the other states having postal offices in Turkey shall close theirs.