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PUBLIC DEBT.
Under an Annex to the Convention of -1th June, 1878, between Great
Britain and 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 five years preceding the date of the Convention, excluding the
produce of State and Crown lands let or sold during that period. The amount to •
be paid has been determined to be £87,686 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, 1884, when the Cypius 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 Company ior
lighting the Coast of Cyprus.
By a further Agreement of 3rd February, 1879, a further sum ot £5,000 is
to be paid annually to the Porte in respect of the produce of State lands. *
A sum of £60,000 to be provided for by a loan has been expended on
Irrigation, and £1,800 by way of interest and Sinking Fund is provided in the
annual Estimates. '