the Moukabalah, and intended for the redemption of the Unified Debt, the sum necessary to make up the difference.
In order to be in a position to meet this liability, the Commissioners of the Public Debt will keep in hand (‘conservera dans ses caisses’) out of the available sums yielded by the Moukabalah, and assigned for the Redemption of the Public Debt, a sum of 600,000l. per annum. This sum can only be sent to Europe after a notification of the Finance Committee mentioned above.
If, on the other hand, there is an excess of revenue after the charge for the Public Debt and the budget expenses above-mentioned have been met, this excess is to be added to the Redemption Fund.
The amortization, both by the deduction of 1 per cent., and by the sums remaining available from the Moukabalah and the budget surpluses, is to be conducted by means of public purchases so long as it will be possible to effect these purchases below the price of 75.
In the event that during the period of the Moukabalah purchases cannot be made at a rate below 75, the amortization is to take place by drawings at the rate of 75. As soon as the increments of revenue shall produce a budget surplus of 150,000l. per annum, the amortization will take place at the rate of 80.
Third Division.—Administration: Controllers-General[1].
The Dual ControlArt. VII. Two Controllers-General will be appointed, the on a Controller-General of Receipts, the other a Controller-General of Audit (‘comptabilité’) and of the Public Debt.
Art. VIII. The functions of the Controller-General of Receipts are the following:—
(1) The Collection of all the revenues of the State, and their payment into the receiving offices to which they belong (‘dans les caisses respectives’).
(2) He will have under his direction all the collectors, except the officials charged with the collection of judicial fees and others
- ↑ The Dual Control was abolished by a Decree of 18th January, 1883.
