CHAPTER XII.REVENUE AND EXPENDITURE.The revenue of the government is about thirty-six millions of dollars, and is thus divided:Göshüre, tithe$11,000,000Saliane, land tax10,000,000Haradj, Poll tax on Christian subjects (lately abolished)2,000,000Geömrük, customs4,300,000Mirry and Ihtissab, indirect tax7,500,000Vergys, or tributes of Egypt$1,000,000Vergys,,,or,,tributes,,of,,Wallachia100,000Vergys,,,or,,tributes,,of,,Moldavia50,000Vergys,,,or,,tributes,,of,,Servia100,0001,250,000$36,050,000Constantinople, the capital of the Ottoman Empire, though it contains, including all its suburbs, a population of nearly a million of inhabitants, is, owing to the system of centralization, exempt from the direct tax, which is levied only in the provinces. Of late there has, however, been a sort of an income tax established, requiring every house-owner to register all contracts of rent at the Police, and pay a feethereon of two per cent. Besides this, they have also introduced another tax on commercial and financial transactions, such as stamped bills, &c.Some of these taxes and revenues are collected by the agents of the government on its own account; and others are farmed out at public auction, with the view of avoiding the abuses and corruptions of the officials; the benefit of which arrangement was illustrated, when the custom-house was farmed out to the Armenian banker, Djezâyirly, who bid double the amount which the treasury used to realize.The expenditure of the government has usually been nearly within its income; but of late years has exceeded it.It includes the sultan’s personal expenses, and the civil and military list.The sultan receiving a salary of $300,000 per month; the Grand Vezir $4,000, and the others $3,000 each.Civil listof the Sultan and his harem$4,100,000Civil,,list,,of,,the,,Army15,000,000of,,the,,Navy2,000,000Ordnance and Fortifications1,500,000Pay of Functionaries10,000,000Foreign Diplomatic Salaries500,000Public Works500,000Séhims or life annuities &c.2,200,000Interest on Cayimés at 6 per cent.450,000Bank subvention1,000,000$37,250,000The deficiency in the treasury is occasioned partly by arrears of taxes, and partly by incidental expenses, such as bank subvention, appropriations for internal improvements, etc.With the view of enabling the treasury to carry on its operations, the government has, for the past few years, been obliged to effect a local loan of $8,000,000, in the shape of Kayemés, or Treasury notes, bearing interest of 6 per cent per annum. Apart from this, it has also contracted a foreign debt of £5,000,000—these two are the only national debts.The monetary market in every country is governed by its exports and imports. The demand in Turkey for articles of foreign produce, having gradually exceeded its former imports, the balance of trade has been against the country, and a drain of specie has been the natural consequence. Apart from this, the payment of the Russian indemnities, having forced the government to demonetize its currency, the rate of exchange became very fluctuating, and a fit subject to financial operators; so that affairs assumed a frightful aspect.To remedy this evil, the government was advised to establish a Bank, in order to keep the foreign exchange at a more uniform par value; this subvention has cost the government on an average $1,000,000per annum; jet without any good success, for it only served to enrich a few individuals, who were intrusted with its management, without benefiting the country in general, and involved the national treasury in greater difficulty.
CHAPTER XII.REVENUE AND EXPENDITURE.The revenue of the government is about thirty-six millions of dollars, and is thus divided:Göshüre, tithe$11,000,000Saliane, land tax10,000,000Haradj, Poll tax on Christian subjects (lately abolished)2,000,000Geömrük, customs4,300,000Mirry and Ihtissab, indirect tax7,500,000Vergys, or tributes of Egypt$1,000,000Vergys,,,or,,tributes,,of,,Wallachia100,000Vergys,,,or,,tributes,,of,,Moldavia50,000Vergys,,,or,,tributes,,of,,Servia100,0001,250,000$36,050,000Constantinople, the capital of the Ottoman Empire, though it contains, including all its suburbs, a population of nearly a million of inhabitants, is, owing to the system of centralization, exempt from the direct tax, which is levied only in the provinces. Of late there has, however, been a sort of an income tax established, requiring every house-owner to register all contracts of rent at the Police, and pay a feethereon of two per cent. Besides this, they have also introduced another tax on commercial and financial transactions, such as stamped bills, &c.Some of these taxes and revenues are collected by the agents of the government on its own account; and others are farmed out at public auction, with the view of avoiding the abuses and corruptions of the officials; the benefit of which arrangement was illustrated, when the custom-house was farmed out to the Armenian banker, Djezâyirly, who bid double the amount which the treasury used to realize.The expenditure of the government has usually been nearly within its income; but of late years has exceeded it.It includes the sultan’s personal expenses, and the civil and military list.The sultan receiving a salary of $300,000 per month; the Grand Vezir $4,000, and the others $3,000 each.Civil listof the Sultan and his harem$4,100,000Civil,,list,,of,,the,,Army15,000,000of,,the,,Navy2,000,000Ordnance and Fortifications1,500,000Pay of Functionaries10,000,000Foreign Diplomatic Salaries500,000Public Works500,000Séhims or life annuities &c.2,200,000Interest on Cayimés at 6 per cent.450,000Bank subvention1,000,000$37,250,000The deficiency in the treasury is occasioned partly by arrears of taxes, and partly by incidental expenses, such as bank subvention, appropriations for internal improvements, etc.With the view of enabling the treasury to carry on its operations, the government has, for the past few years, been obliged to effect a local loan of $8,000,000, in the shape of Kayemés, or Treasury notes, bearing interest of 6 per cent per annum. Apart from this, it has also contracted a foreign debt of £5,000,000—these two are the only national debts.The monetary market in every country is governed by its exports and imports. The demand in Turkey for articles of foreign produce, having gradually exceeded its former imports, the balance of trade has been against the country, and a drain of specie has been the natural consequence. Apart from this, the payment of the Russian indemnities, having forced the government to demonetize its currency, the rate of exchange became very fluctuating, and a fit subject to financial operators; so that affairs assumed a frightful aspect.To remedy this evil, the government was advised to establish a Bank, in order to keep the foreign exchange at a more uniform par value; this subvention has cost the government on an average $1,000,000per annum; jet without any good success, for it only served to enrich a few individuals, who were intrusted with its management, without benefiting the country in general, and involved the national treasury in greater difficulty.
CHAPTER XII.REVENUE AND EXPENDITURE.
The revenue of the government is about thirty-six millions of dollars, and is thus divided:Göshüre, tithe$11,000,000Saliane, land tax10,000,000Haradj, Poll tax on Christian subjects (lately abolished)2,000,000Geömrük, customs4,300,000Mirry and Ihtissab, indirect tax7,500,000Vergys, or tributes of Egypt$1,000,000Vergys,,,or,,tributes,,of,,Wallachia100,000Vergys,,,or,,tributes,,of,,Moldavia50,000Vergys,,,or,,tributes,,of,,Servia100,0001,250,000$36,050,000Constantinople, the capital of the Ottoman Empire, though it contains, including all its suburbs, a population of nearly a million of inhabitants, is, owing to the system of centralization, exempt from the direct tax, which is levied only in the provinces. Of late there has, however, been a sort of an income tax established, requiring every house-owner to register all contracts of rent at the Police, and pay a feethereon of two per cent. Besides this, they have also introduced another tax on commercial and financial transactions, such as stamped bills, &c.Some of these taxes and revenues are collected by the agents of the government on its own account; and others are farmed out at public auction, with the view of avoiding the abuses and corruptions of the officials; the benefit of which arrangement was illustrated, when the custom-house was farmed out to the Armenian banker, Djezâyirly, who bid double the amount which the treasury used to realize.The expenditure of the government has usually been nearly within its income; but of late years has exceeded it.It includes the sultan’s personal expenses, and the civil and military list.The sultan receiving a salary of $300,000 per month; the Grand Vezir $4,000, and the others $3,000 each.Civil listof the Sultan and his harem$4,100,000Civil,,list,,of,,the,,Army15,000,000of,,the,,Navy2,000,000Ordnance and Fortifications1,500,000Pay of Functionaries10,000,000Foreign Diplomatic Salaries500,000Public Works500,000Séhims or life annuities &c.2,200,000Interest on Cayimés at 6 per cent.450,000Bank subvention1,000,000$37,250,000The deficiency in the treasury is occasioned partly by arrears of taxes, and partly by incidental expenses, such as bank subvention, appropriations for internal improvements, etc.With the view of enabling the treasury to carry on its operations, the government has, for the past few years, been obliged to effect a local loan of $8,000,000, in the shape of Kayemés, or Treasury notes, bearing interest of 6 per cent per annum. Apart from this, it has also contracted a foreign debt of £5,000,000—these two are the only national debts.The monetary market in every country is governed by its exports and imports. The demand in Turkey for articles of foreign produce, having gradually exceeded its former imports, the balance of trade has been against the country, and a drain of specie has been the natural consequence. Apart from this, the payment of the Russian indemnities, having forced the government to demonetize its currency, the rate of exchange became very fluctuating, and a fit subject to financial operators; so that affairs assumed a frightful aspect.To remedy this evil, the government was advised to establish a Bank, in order to keep the foreign exchange at a more uniform par value; this subvention has cost the government on an average $1,000,000per annum; jet without any good success, for it only served to enrich a few individuals, who were intrusted with its management, without benefiting the country in general, and involved the national treasury in greater difficulty.
The revenue of the government is about thirty-six millions of dollars, and is thus divided:
Göshüre, tithe$11,000,000Saliane, land tax10,000,000Haradj, Poll tax on Christian subjects (lately abolished)2,000,000Geömrük, customs4,300,000Mirry and Ihtissab, indirect tax7,500,000Vergys, or tributes of Egypt$1,000,000Vergys,,,or,,tributes,,of,,Wallachia100,000Vergys,,,or,,tributes,,of,,Moldavia50,000Vergys,,,or,,tributes,,of,,Servia100,0001,250,000$36,050,000
Constantinople, the capital of the Ottoman Empire, though it contains, including all its suburbs, a population of nearly a million of inhabitants, is, owing to the system of centralization, exempt from the direct tax, which is levied only in the provinces. Of late there has, however, been a sort of an income tax established, requiring every house-owner to register all contracts of rent at the Police, and pay a feethereon of two per cent. Besides this, they have also introduced another tax on commercial and financial transactions, such as stamped bills, &c.
Some of these taxes and revenues are collected by the agents of the government on its own account; and others are farmed out at public auction, with the view of avoiding the abuses and corruptions of the officials; the benefit of which arrangement was illustrated, when the custom-house was farmed out to the Armenian banker, Djezâyirly, who bid double the amount which the treasury used to realize.
The expenditure of the government has usually been nearly within its income; but of late years has exceeded it.
It includes the sultan’s personal expenses, and the civil and military list.
The sultan receiving a salary of $300,000 per month; the Grand Vezir $4,000, and the others $3,000 each.
Civil listof the Sultan and his harem$4,100,000Civil,,list,,of,,the,,Army15,000,000of,,the,,Navy2,000,000Ordnance and Fortifications1,500,000Pay of Functionaries10,000,000Foreign Diplomatic Salaries500,000Public Works500,000Séhims or life annuities &c.2,200,000Interest on Cayimés at 6 per cent.450,000Bank subvention1,000,000$37,250,000
The deficiency in the treasury is occasioned partly by arrears of taxes, and partly by incidental expenses, such as bank subvention, appropriations for internal improvements, etc.
With the view of enabling the treasury to carry on its operations, the government has, for the past few years, been obliged to effect a local loan of $8,000,000, in the shape of Kayemés, or Treasury notes, bearing interest of 6 per cent per annum. Apart from this, it has also contracted a foreign debt of £5,000,000—these two are the only national debts.
The monetary market in every country is governed by its exports and imports. The demand in Turkey for articles of foreign produce, having gradually exceeded its former imports, the balance of trade has been against the country, and a drain of specie has been the natural consequence. Apart from this, the payment of the Russian indemnities, having forced the government to demonetize its currency, the rate of exchange became very fluctuating, and a fit subject to financial operators; so that affairs assumed a frightful aspect.
To remedy this evil, the government was advised to establish a Bank, in order to keep the foreign exchange at a more uniform par value; this subvention has cost the government on an average $1,000,000per annum; jet without any good success, for it only served to enrich a few individuals, who were intrusted with its management, without benefiting the country in general, and involved the national treasury in greater difficulty.