No. 592]                     RUSSIA AND TURKEY.          [14 May, 1882.

[Russian War Indemnity.]

or mutessarifliks in which the Imperial Ottoman Bank possesses
branches or agents.

Art. IY. The sums thus assigned to the payment of the
War Indemnity in each vilayet or mutessariflik should be 25 per
cent, less than the total of the produce of the said taxes in the
said localities.

Art. Y. The produce of the net total of the said taxes in the
vilayets and mutessarifliks alluded to, that is to say, the sum
which shall remain after the deduction of the expenses of the
collection of the taxes, shall be deposited directly and in full by
the local authority charged with the collection of the taxes in
the said vilayets or mutessarifliks into the caisses of the Imperial
Ottoman Bank, or to the agent of the said bank, in virtue of a
special and permanent order sanctioned by Imperial Irade.
Nevertheless, if the revenues derived from the sheep and tithe
taxes appropriated to the War Indeninity should happen to
produce a surplus over and above the 25 per cent, granted, in
that case the Imperial Ottoman Bank shall be compelled to
hand over to the Ministry of Finance of the cazas, the revenues
of which derived from the sheep tax and the tithe ought to be
equal, the eventual surplus mentioned above.

If, on the other hand, these said revenues should suffer so
great a falling off that the surplus of 25 per cent, could not be
realized, then the Ottoman Minister of Finance engages to
assign to the Imperial Ottoman Bank new cazas, the revenues
of which derived from the tithes and sheep taxes shall suffice to
complete the deficit in question.

Art. YI. The Imperial Ottoman Bank shall be bound to
make a special arrangement with the Imperial Russian Bank
for the operations of the Ottoman Bank at Constantinople
respecting the payment of the War Indemnity.

Art. YII. The Director of the Imperial Ottoman Bank shall
be obliged, after the signature of the Convention, to retain im¬
mediately, in proportion to the receipts from the sheep tax and
tithes, the sum assigned for the Russian War indemnity ; and he
shall hold immediately at the disposal of the local administra¬
tion the whole surplus of each vilayet, after the part which
is due for payment for the War Indemnity shall have been
deducted and put aside to be placed to the account of the
Imperial Russian Bank.

Art. YIIL The Imperial Ottoman Government engages
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