Page:The European Concert in the Eastern Question.djvu/166

 conclude Treaties of commerce introduciDg modifications in the Customs duties,

IX. The Government undertakes not to issue any loans, Treasury Bonds or any other new bonds, and not to contract other loan of any nature whatsoever. This same engagement is entered into in the name of the Daira Sanieh. Nevertheless, in case the Government, from urgent national reasons, should find itself placed under the necessity of having recourse to credit, it may do so within the limits of strict necessity, and without doing anything to affect the employment of the revenues set apart for the Treasury of the Public Debt, or to cause their diversion from their destination. These totally exceptional loans can only be contracted after an agreement on the subject with the Commissioners directing the Treasury.

X. In order that the arrangements stated in the preceding article shall not place obstacles in the way of the Administration, the Government may open a running account with a bank to facilitate its payments by means of anticipations, to be regulated in accordance with the year's receipts. The debit or credit balance will be settled at the end of each year. This current account must never be overdrawn during the year by more than 50,000,000 fr.

Done at Cairo, the 2nd of May, 1876. ISMAIL.

No. XIII Decree for the Unification of the Egyjptian debt, &c., 7th May, 1876. the loans contracted in 1862, 1864, 1868, 1873, 1865, 18673, and 1870, by the Government and the Daïra