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Home > History and Archaeology > History > The Development of Modern Turkey as Measured by Its Press Volume 142-145
The Development of Modern Turkey as Measured by Its Press Volume 142-145

The Development of Modern Turkey as Measured by Its Press Volume 142-145


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This historic book may have numerous typos and missing text. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1914 Excerpt: ...to. Four separate loans, amounting to 6,635,000, had already been contracted in 1894 and early in 1895, and the proceeds had all been spent in one way or another. Three much larger loans had to be raised in 18951898 to pay off the indemnity. The terms were very easy, largely because of the jealousy of the rival groups of European powers with which the loans were made. These loans are as follows: 1 Report on the Adoption of the Gold Standard in Japan by Count Matsukata, p. 173. Franco-Russian Loan (1895) 4% 15,820,000 (400,000,000 fcs.) Anglo-German Loan (1895) 5% 16,000,000 Anglo-German Loan (1898) 4j/2% 16,000,000 To this gold debt was added what is generally known as the Boxer indemnity which was fixed according to the final Protocol of September 7, 1901, at 450,000,000 taels. This new indemnity was made a debt, payable in 39 years, bearing interest at 4 per cent. Reckoned at the rate of exchange of the time, the indemnity was put at 67,500,000 in gold.1 It remains to be seen what were the resources of the Government to meet the new obligations thus incurred. The annual charge including interest and redemption on the loans amounted to (about) 3,000,000. The annual indemnity charges raised the total to over 6,000,000, equivalent to (about) 40,000,000 KP. taels. The total revenue of the Government in 1901 was put at 88,200,000 taels approximately.2 A detailed treatment of the fiscal system and methods does not fall within the scope of this study. But a general outline will help toward understanding the monetary situation. The principal sources of revenue are the land tax, the maritime customs, the leekin, the regular customs, and the salt gabelle. The land tax, consisting of a tax in money and a tax in grain, is a consolidation...


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Product Details
  • ISBN-13: 9781130071894
  • Publisher: Rarebooksclub.com
  • Publisher Imprint: Rarebooksclub.com
  • Height: 246 mm
  • No of Pages: 154
  • Spine Width: 8 mm
  • Width: 189 mm
  • ISBN-10: 1130071898
  • Publisher Date: 01 Mar 2012
  • Binding: Paperback
  • Language: English
  • Returnable: N
  • Weight: 286 gr

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