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PUBLIC DEBT.
Under an Annex to the Convention of 4th June, IS78, between Great
Britain arid Turkey the former Power has undertaken to pay to the Porte annually
a sum representing the excess of Revenue over Expenditure calculated on the
average of the nve years nrecedin<r the date of the Convention, excluding the
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produce of State and Crown lands let or sold during- that period. The amount to
be paid has been determined to be £S7,6SG per annum ; this to be in addition to
4,166,220 okes of Salt to be paid in kind.
The sum of £113 lis. 3d. per annum has also become payable, under
the >ame Annex, since the 4th. September, 1SS4. when the Cyprus Government
took over the administration of the Lighthouse Service in the Island. This sum
represents 2 2 % of the receipts of the Ottoman Lighthouse Administration which
the Sublime Porte enjoyed under the concession granted the Companv ior
lighting the Coast of Cyprus.
By a further Agreement of 3rd l-'ebruray, 1S7!), a further sum'of £5,000 is
to bo paid annually to the Porte in respect of the produce of State lands.
A sum of £60,CC0 to be provided for by a loan has been expended on
Irrigation, and £2
:
400 by w a y of interest and Sinking Fund is provided in the
annual Estimates.