finance]
EGYPT 697 of the land, a scheme was passed which has given satis- financial situation. Cotton and sugar are the two principal profaction to the land-owning community, and which will, ducts of the country, forming together about 90 per cent, of the total value of the exports. The following tables show the amount when completed, distribute the tax equitably in proportion and value of the cotton and sugar crops from 1885 to 1898 :— to the fertility of the soil. Cotton. This brief sketch of the history of Egyptian finance would not be complete without a few statistics showing Cantars Price Season. Value. of 50 Kilos. per Cantar. more Results • definitely the remarkable progress made 1 s nce P.T. £E. 1883-1*900.
1883. The following particulars, giving 18852,905,000 the general financial results obtained since the 228 6,625,000 18863,026,000 240 7,262,000 commencement of the British occupation, are taken from 18872,963,000 249 7,382,000 Lord Cromer’s reports and other official publications. The 18882,766,000 264 7,310,000 difference between the real ordinary revenue and expendi18892,872,000 294 8,455,000 1890ture of. the Egyptian Government during these years is 3,638,000 255 9,281,000 18914,195,000 205 8,594,000 shown in the following table :— 18924,610,000 206 9,510,000 18934,548,000 191 8,707,000 Year.. Surplus. Deficit. 18944,347,000 168 7,326,000 18954,695,000 220 10,342,000 18965,177,000 195 £E 10,089,000 £E. 18971883 5,765,000 157 9,040,000 921,000 18981884 5,056,000 175 8,832,000 460,000 1885 733,000 18861 492,000 Cotton Seed. 1887 348,000 1888 53,000 Price Season. Ardebs.2 1889 218,000 Value. per Ardeb. 1890 647,000 1891 933,000 P.T. £E. 18851892 746,000 1,967,000 62 1,229,000 1893 1886687,000 2,307,000 55 1,264,000 1894 1887692,000 2,182,000 58 1,277,000 18881895 1,003,000 2,080,000 68 1,412,000 18891896 1,089,000 2,211,000 61 1,344,000 18901897 1,383,000 2,828,000 52 1,486,000 18911898 1,332,000 3,128,000 58 1,828,000 18921899 1,270,000 3,157,000 60 1,898,000 18931900 3,032,000 1,552,000 58 1,756,000 18942,708,000 43 1,159,000 18952,982,000 41 1,213,000 This table shows very clearly the cleavage line between 18963,526,000 39 1,393,000 the period of semi-insolvency and that of prosperity 18973,736,000 41 1,542,000 1898through which Egypt has passed. During the four years 3,163,000 46 1,446,000 1883-86, both inclusive, the aggregate deficit amounted to c£E.2,606,000. By 1886 the Sudan expenditure had Sugar. greatly diminished. The efforts of the reformers, notably Price Year. Tons of 1000 Kilos. per 100 those of the irrigation officers, had begun to bear fruit. Value. Kilos. The aggregate surplus of the fourteen years from 1887 P.T. £E. to 1900, both inclusive, was £E.l 1,847,000. During the 1885 50,000 116 579,000 same period direct taxation was reduced to the extent of 1886 43,000 106 453,000 about £E. 1,275,000 a year. Arrears of land-tax to the 1887 50,000 99 490,000 1888 47,000 115 541,000 extent of £E. 1,245,000 were remitted. In the domain 1889 37,000 135 497,000 of indirect taxes the salt-tax was reduced by 40 per cent., 1890 30,000 113 339,000 the postal and telegraph rates were reduced by 50 per 1891 52,000 110 573,000 cent, and the octroi duties were abolished in all the pro1892 55,000 127 705,000 1893 55,000 138 vincial towns. Large reductions were made in the rail761,000 1894 56,000 111 629,000 way rates. The only increase of taxation was in the 1895 55,000 86 473,000 tobacco duty, which has been raised from P.T. 14 to P.T. 1896 74,000 104 765,000 20 per kilogramme. The house-tax was also imposed on 1897 73,000 87 635,000 1898 58,000 94 European residents in Egypt. In spite of the great relief 544,000 thus afforded to the taxpayers of Egypt, the revenue Trade and Commerce, 7^-95.—The following table shows the increased by .£E.2,512,000. In 1883 a revenue of annual value of the total imports and exports, excluding .£E.8,935,000 was wrung with difficulty from the country. average for the three quinquennial periods between 1884 and In 1900 £E. 11,447,000 was collected with ease. On the bullion, 1898 :— other hand, a stringent control has been exercised over Period. the expenditure. In 1883 the “ordinary” expenditure Imports. Exports. Total Trade. amounted to £E.9,856,000. In 1900 it amounted to £E. £E. £E. £E.9,895,000, an increase of only £E.39,000. 1884-88 8,257,000 11,106,000 19,363,000 In connexion with this subject it must be borne in mind that, 1889-93 8,423,000 12,887,000 21,310,000 during the period under review, Egypt has suffered very severely 1894-98 9,822,000 12,592,000 22,414,000 Fall la horn the reatgeneral fall in prices. Had it not been for prices: § increase of production, the result of imto the great perturbation of prices that has characterized 1885-1898. relief Provemen fs in the of irrigation,theandagricultural the fiscal theOwing period under review, the above figures give a very imperfect afforded to system the landowners, depression would, without doubt, have seriously impaired the impression of the real growth of the trade of the country. A 1 Owing to a change in the way of making up the accounts, normal clearer view is obtained by comparing the quantities of some of the 1 expenditure of £E.340,000 was not included in the accounts of 1887, 100 P.T. = £E.l = £1, 0s. 6d. 2 so that there was practically financial equilibrium in that year. An ardeb of cotton seed weighs 267 lb. S. III.
