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S.s
PUBLIC DEBT.
Under an Annex to the Convention of 4th June. LS7b, between '.Treat
3rirain and Turkey the former Power has undertaken to pay* to the Porte annually
a sum representing the exce*.-? of Revenue over Expenditure calculated cn 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 £S7,6S6 per annum ; this to be in addition to
4,1-66.220 okes of Salt to be paid in kind.
The sum of £113 lis. 3d. per annum has also become parable, under
the same Annex, since the 4tb September, 1384, when the Cyprus Government
took over the administration of the Lighthouse Service in the Island. This sum
represents 22% of the receipts of the Ottoman Lighthouse Administration which
the Sublime Porte enjoyed under the concession granted the Companv lor
lighting the Coast of Cyprus.
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By a further Agreement of 3rd February, 1*79, a further sum or £5.000 is
to be paid annually to the Porte in respect of the produce of State lands.
A sum of £60,000 provided for by a loan has been expended on Irrigation,
aud £-.400 by way of Interest and Sinking Fund is provided in the annual
Estimates. On 31st March, 1912, £53,963 was outstandino*
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Further loans to the amount of £254,000 have been obtained on account of
the Famagusta Harbour and Railway, and £10.097 by way of Interest and
Sinking Fund wa. provided in the annual Estimates.of which sum £10.097 was
expended a, a further sum of £2.5,0 was contributed from the Locust Fund as
its share of dent charges. On 31sr March. 1912. £221.120 was outstanding