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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 Expenditure calculated on the
average of the five years preceding the date of the Convention, excluding the
produce of State and Cvown 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°/
0
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 ot £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,
and £'m.AQQ by way of Interest and Sinking Fund is provided in the annual
Estimates. O n Slst .March. 1919, £47,983. ISs. Od. was outstanding.
Further loans ro the amount of £254.000 were obtained on account of
rhe Famagusta Harbour and Railwav, and £10.892 bv wav of Interest and
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a/
Sinking- Fund was provided in the annual Estimates, of which sum £10.326. was
expended, as a further sum of £950 was contributed from the Locust Fund as
its share of debt charges. O n 31st March, 1919, £185,560 was outstanding.