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438
[FINANCE
TURKEY

£T125,000 in 1906–1907, the value of the silk crop in those

regions having thus advanced by over £T1,000,000. But the regions not under its administration benefited at least equally by the methods above described. Thus the total value of the silk tithe in Turkey increased in the period named from about £T20,000 to £T276,500, and the total annual value of the crop from about £T200,000 to £T2,765,000, or by nearly 2½ millions pounds sterling.

Table A gives the produce of the revenues in 1881–1882, the last year of the administration of the “Galata Bankers,” the average product of the first, second, third, fourth and fifth quinquennial periods since the public council was established, and of the year 1907–1908.

Table B shows the total indebtedness of the Ottoman Empire, exclusive of tribute loans.

Table A.—Showing Revenues ceded to Ottoman Public Debt Administration at Various Periods to 1907–1908.

Heads of Revenue. Last year of
 Galata Bankers, 
1881–1882.		 Average for
 First Five Years 
of Council of
Public Debt,
 1882–83, 1886–87. 		 Average for
 Second Five Years 
of Council of
Public Debt,
 1887–88, 1891–92. 		 Average for
 Third Five Years 
of Council of
Public Debt,
 1892–93, 1896–97. 		 Average for
 Fourth Five Years 
of Council of
Public Debt,
 1897–98, 1901–2. 		 Average for
 Fifth Five Years 
of Council of
Public Debt,
 1902–3, 1906–7. 		 1907–8.
  £T £T £T £T £T £T £T
 Six Indirect Contributions:—[1]              
 ⁠Tobacco 881,563  822,633  755,489  788,384  725,641  815,923  899,352 
 ⁠Salt 634,936  651,057  702,150  755,978  861,406  987,417  1,123,886 
 ⁠Stamps 129,833  146,822  185,930  212,815  221,856  321,193  366,255 
 ⁠Spirits 177,163  198,356  229,059  258,848  269,482  273,893  283,301 
 ⁠Fisheries 26,064  34,356  44,307  44,337  47,294  53,032  69,549 
 ⁠Silk 17,118  24,145  39,398  56,393  69,012  98,731  131,218 
 Extra Budgetary Receipts[2] — — — — 2,797  25,757  —
 Total of Six Indirect Contributions  1,866,677  1,937,369  1,956,333  2,116,755  2,197,488  2,575,946  2,873,561 
 Tobacco Tithe not collected 72,340  81,866  104,688  99,276  172,473  210,068 
 Eastern Rumelian Annuity ” 150,040  126,688  129,222  88,682  159,628  114,020 
 Excess of Cyprus Revenues ” 130,000  113,557  102,596  102,596  102,596  102,596 
 Tax on Tumbēki ” 50,000  50,000  50,000  50,000  50,000  50,000 
 Total Gross Revenue 1,866,677  2,339,749  2,328,444  2,503,261  2,538,042  3,060,643  [3]3,350,245 
 Expenses 378,789  388,000  392,403  346,143  418,537  522,798  572,850 
 Total Net Revenue 1,487,888  1,951,749  1,936,041  2,157,118  2,119,505  2,537,845  2,777,395 


Table B.—Position of the Ottoman Public Debt on the 1st of March 1326 (March 14, 1910).

Designation of Loans. Nominal
Capital
issued.		 Annuities. Nominal Capital
redeemed at 1st
 March 1326 (1910). 		 Nominal Capital in
circulation on 1st
 March 1326 (1910). 
  £T £T £T £T
Debt controlled by the administration of the Ottoman Public Debt. Unified Debt 4%[4]
Turkish Lottery Bonds[4]
4% Loan 1890
5% Loan 1896
4% Loan 1903 Fisheries
4% Loan Bagdad 1st Series
4% Loan Bagdad 2nd Series
4% Loan 1904
4% Loan 1905 Military Equipment 
4% Loan 1901–1905
4% Loan 1908
 42,275,772  1,887,375  2,345,010  39,930,762 
15,632,548  270,000  1,509,502  12,032,956 
4,999,500  249,975  1,509,200  3,490,300 
3,272,720  180,000  289,300  2,983,420 
2,640,000  118,800  105,424  2,534,576 
2,376,000  97,120  15,642  2,360,358 
4,752,000  200,000  8,426  4,743,574 
2,750,000  123,750  57,090  2,692,910 
2,640,000  118,800  83,556  2,556,444 
5,306,664  238,800  123,420  5,183,244 
4,711,124  212,000  — 4,711,124 
 
  91,356,328  3,696,620  8,136,660  83,219,668 
Debt in the service of which the administration of the Ottoman Public Debt does not intervene. 4% Loan 1893 Tumbēki
4% Loan 1894
4% Loan 1902[4]
4% Loan 1855
4% Loan 1891
3½% Loan 1894
4% Loan 1909
 1,010,010  50,000  239,800  760,210 
1,760,000  76,560  136,202  1,623,798 
8,600,020  390,000  367,180  8,232,840 
5,500,000  167,869  1,303,280  4,196,720 
6,948,612  308,686  777,700  6,170,912 
9,033,574  362,174  852,808  8,180,766 
7,000,004  350,000  — 7,000,004 
 
 ⁠Total  131,198,548   5,401,909  11,813,630  119,384,918 
Tobacco Régie.—From the beginning of the year 1884 the tobacco revenue has been worked as a monopoly by a company formed under Ottoman law, styled “La Régie Impériale Coïntéressée des Tabacs Ottomans.” This company has the absolute monopoly of the manufacture and of the purchase and sale of tobacco throughout the Ottoman Empire, with the exception of the Lebanon and Crete, but exportation remains free. It is bound to purchase all tobacco not exported at prices to be agreed between itself and the cultivators; if no agreement can be arrived at, the price is fixed by experts. It is obliged also to form entrepôts for the storage of the crops at reasonable distances from each other, and, on certain conditions, to grant advances to cultivators to aid them in raising the leaf. The cultivators, on the other hand, may not plant tobacco without permits from the régie, although the power of refusing a permit, except to known smugglers or persons of notoriously bad conduct, seems to be doubtful; nor may they sell to any purchaser, unless for export, except to the régie, while they are bound to deposit the whole of the tobacco crops which they raise in any one year in the entrepôts of the régie before the month of August of the year following,
  1. ↑ Exclusive of £T50,000 representing the retrocession of the reftish (Egyptian tax, abolished in 1895) to the régie.
  2. ↑ Up to 1902–1903 the extra-budgetary receipts and fines had been carried to account of the respective revenues concerned; after that date they were placed under a special heading. After 1905–1906 extra-budgetary receipts relating to expenditure previously effected have been deducted from “General Expenses.”
  3. ↑ The 3% customs surtax is not included in this table. It came into force on the 13th of July 1907, and produced during the remainder of the financial year £T544,987; 25% of this revenue is ceded to the public debt; the remainder reverts to the government.
  4. 1 2 3 The capital in circulation for these loans, established on the 1st of March 1326 (1910), is approximate.
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