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PUBLIC DEBT.
Under an Annex to the Convention of 4th 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 Expendirure calculated on the
average of the five years preceding tlie 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 £S7.686 per annum ; this to be in addition to
i,166,220 okes of Salt to be paid in kind.
The sum of £113 lis. 3d. per annum has also become payable, under
the same Annex, since the 4tb September, 1884, 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.
By a further Agreement of 3rd February, 1879, a further sum of .£5,000 is
to be paid annually tu die Pone in respect of the produce of State lands.
A sum of £60,000 provided for by a loan has been expended on Irrigation,
and £2,400 by way of Interest and Sinking Fund is provided in the annual
Estimates. On Slst .March, ].-i3, £52,383 was outstandin. -g*
Further loan, tu the am unt of £254,000 have been obtained on account of
the .F:.:nrgu
s
ra L'arluiir a;-.; i.'aihvay. and £9,6' 2 ly way of Interest and
^nivi-.j Fuud vmi. -rovided in ihc a:mi:ai Estimates of which sum £9.1)01 was
expc.-LJ as a fuv.U-r sum -J .._,5GC was con, _ luted from the Locust Fundus
it, sL*.;e of debt clu.-es. U. Mat larch, 1913, £210.9*,0 -was ouistandino-.