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THE DECREE OF 7TH MAY, 1876.
the State, and the floating debt of the Daïra Sanieh, including the Treasury bonds and all other bonds or obligations, are unified into a general debt, the bonds of which shall bear interest at the rate of seven per cent.[1] on the nominal capital, and shall be redeemable in sixty-five years by half-yearly drawings. The unification is effected at par of the nominal amount of the bonds of the old 1862, 1868, 1870, and 1873 Loans. The bonds of the general debt shall be delivered at the rate of 95 per cent. of their nominal capital to the holders of Seven per Cent. bonds of the 1864 and 1865 Loans, and of the Nine per Cent. Loan of 1867. For this latter loan the difference of the per-centage of interest shall be capitalized at the rate of

Floating debt. 70 per cent. of the nominal capital, and at the rate of 80 per cent. to the holders of the bonds of the floating debts of the State and the Daïra Sanieh, in the form of Treasury bonds or other bonds and obligations which constitute them. By virtue of this operation the general unified debt will amount to 91,000,000l. sterling nominal, to bear interest from the 1st of July, 1876.

Proportion to be borne by Daïra Art. II The loan debt and floating debt of the Daïra Sanieh being unified with that of the State under the same restrictions and guarantees, the Daïra Sanieh is bound to pay annually into the Treasury of the Public Debt the sum of 684,411l. sterling, representing its proportion of the total yearly amount necessary for the interest and sinking fund of the debt.

List of hypothecated revenues.

Art. III. The revenues specially devoted to the service of the General Debt are : —Moudirieh de Garbieh, 1,201,523l. sterling; Moudirieh de Menouieh, 714,107l.; Moudirieh de Behera, 424,312l.; Moudirieh de Siout, 732,179l.; octroi dues of Cairo, 345,389l. ; octroi dues of Alexandria, 173,837l.; import duties of Alexandria, Suez, Damietta, Rosetta, Port Saïd, and El Arich, 639,677l.; railways, 990,806l.[2]; tobacco dues, 264,015l., salt revenues, 200,000l.; the rent of Materieh, 60,000l.; sluice revenues and navigation dues on the Nile up to Wadyhalfa, 30,000l; bridge of Kasr-el-Nil, 15,000l.—total,
  1. ↑ Reduced to 4 per cent., by Art. 10 of the Law of Liquidation (Texts, No. XVII).
  2. ↑ As to the port of Alexandria and the railways, see Arts. 3, 23-33 of the Goschen-Joubert Decree (Texts, No. XIV).
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