360 



GREECE. 



drachma in currency, increasing to 16,065,000 

 drachmai in 1903, when the rate of interest will 

 be increased. In addition to the interest, the old 

 creditors insisted on special payments on arrears, 

 for which the sum of 6,580,000 drachma! was to 

 be provided in 1898, then 1,780,000 drachmai for 

 each of the next three years, and 500,000 drach- 

 mai in 1902, when these special payments cease. 

 The annual charge of the internal debt was cal- 

 culated at 5,545,610 drachmai for 1898 and 5,145,- 

 610 drachmai for succeeding years, which will be 

 increased in 1900 and after to 7,145,610 drachmai 

 by the appropriation each year of 2,000,000 drach- 

 mai to the gradual withdrawal of the forced paper 

 currency. These estimates make the total ex- 

 penditure 93,285,686 drachmai for 1898, which is 

 7,729,186 drachmai more than the total estimated 

 receipts. The application of 4,425,000 drachmai 

 from the new loan, reduced, however, by 3,000,000 

 drachmai for a half year's interest and 200,000 

 drachmai for commissions, leaves a deficit of 

 6,504,186 drachmai for 1898. For 1899 the total 

 ordinary expenditure, as estimated, amounts to 

 86,635,686 drachmai, leaving a surplus of 3,003,- 

 954 drachmai, to which is added 8,000,000 drach- 

 mai from the new loan, but after paying the in- 

 terest of 6,050,000 drachmai on the new loan, 

 with 250,000 drachmai for commissions and 250,- 

 000 drachmai for temporary debt charges, there 

 still remains a deficit of 2,050,232 drachmai at the 

 end of the second year. For 1900 the estimated 

 expenditures foot up 88,435,686 drachmai, show- 

 ing a surplus of 4,163,094 drachmai in the year's 

 ordinary budget; but there are no more funds to 

 be applied from the loan to the aid of the treas- 

 ury, while the sinking fund of 1.1 per cent, being 

 added to the interest increases the annual charge 

 of the new loan to 6,200,000 drachmai, the addi- 

 tional expense of 500,000 drachmai for commis- 

 sions and temporary loan charges remaining the 

 same. The estimated deficit at the end. of the 

 third year is therefore 4,587,138 drachmai, and 

 at the end of 1901, with expenditures for the 

 administration and the service of the old debts 

 footing up 88,735,686 drachmai, leaving a balance 

 of 6,821,834 drachmai, it is 4,465,304 drachmai; 

 but this is reduced in 1902, with expenses figured 

 at 87,755,686 drachmai, to 817,486 drachmai, and 

 in 1903, with expenditures figured at 87,961,936 

 drachmai, an equilibrium is expected to be reached 

 and a surplus of 1,542,634 drachmai is counted on, 

 notwithstanding the increase in the charges of the 

 new loan to 8,928,000 drachmai. The revenue 

 from monopolies was reckoned at 10,250,000 

 drachmai for 1898, rising to 12,975,700 drachmai 

 in 1903, less an expenditure in each year of about 

 3,000,000 drachmai for the purchase of matches, 

 playing cards, cigarette papers, and also of 

 stamps; the revenue from stamps was estimated 

 at 9,000,000 drachmai, rising to 10,000,000 drach- 

 mai; revenue from customs, 10,700,000 drachmai 

 for each year; revenue from tobacco, 5,470,000 

 drachmai in 1898, rising to 7,025,000 drachmai. 

 The total net yield of the assigned revenues was 

 estimated at 32,420,000 drachmai in 1898, 33,476,- 

 140 drachmai in 1899, 34,532,280 drachmai in 1900, 

 35,588,420 drachmai in 1901, 36,231,004 drachmai 

 in 1902, and 37,183,756 drachmai in 1903, after 

 deducting the share of the old creditors in the 

 plus values, which are the surplus of the gross 

 proceeds of the monopolies and tobacco and stamp 

 duties over 28,900,000 drachmai. Such a surplus 

 is expected to arise in 1902, and from it 18 per 

 cent, is to be deducted for expenses, and of the 

 remainder 60 per cent, is to be applied to the 

 service of the old debt and 40 per cent, to the 

 expenses of the Government. The share of the 



creditors for 1902 is estimated at 413,556 drach- 

 mai, and for 1903 at 516,944 drachmai. 



The Army and Navy. The army, which i 

 recruited by general conscription, had in 1896 a 

 nominal strength of 1,880 officers and 23,453 men, 

 with 3,294 horses and 180 guns; The term of 

 active service is two years, but leave of absence 

 is frequently granted after a short training. The 

 war strength is about 82,000 men, excluding the 

 territorial army, estimated at 96,000 men. 



The armor-clad navy consists of 5 vessels the 

 antiquated Basileus Georgios, of 1,770 tons, and 

 Basilissa Olga, of 2,060 tons, carrying 6.6-inch 

 guns, and the steel vessels Hydra, Spetsai, and 

 Psara, of 4,885 tons, built in France in 1889 and 

 1890, each protected by a belt of 11.8-inch armor 

 at the water line and armed with 3 10.6-inch and 

 4 5.9-inch Canet guns, besides 7 6-pounder and 16 

 smaller quick-firing and machine guns. The tor- 

 pedo flotilla comprises 17 first-class craft and 2 

 submarine Nordenfeldt torpedo boats. 



Navigation. The number of vessels entered 

 at Greek ports during 1897 was 4,560, of 2,491,522 

 tons; cleared, 4,487, of 2,444,618 tons. The mer- 

 chant marine on Jan. 1, 1898, comprised 1,152 

 sailing vessels, of 238,196 tons, and 118 steamers, 

 of 87,845 tons. 



Commerce and Production. The soil of 

 Greece is owned mainly by the farmers, but their 

 methods of agriculture are generally behind the 

 age. The crop of wheat is about 7,000,000 bushels 

 a year; barley, 3,000,000 bushels; corn, 3,000,000 

 bushels; and other grains, 7,000,000 bushels. 

 About 16,000,000 pounds of tobacco are raised, 

 much of which is exported to Egypt and Turkey. 

 The wine product is 66,000,000 gallons, and of 

 olives 15,000,000 pounds are gathered annually; 

 of figs, 60,000,000 pounds. The quantity of dried 

 figs produced in 1897 was 10,000 tons; of valonea, 

 9,000 tons; of cocoons, 150,000 kilogrammes, be- 

 sides which 8,000 kilogrammes of silk weVe pro- 

 duced. The quantity of olive-oil soap manufac- 

 tured in 1896 was 8,240 tons. The most impor- 

 tant crop is the Zante currant, grown only in 

 Greece. The quantity of dried currants produced 

 in 1896 was estimated at 150,000 tons; in 1897, 

 146,000 tons. Under the law first passed in 1895,. 

 and re-enacted every year since, the Government 

 retains 15 per cent, of the crop in order to pre- 

 vent the export price from falling below the cost 

 of production. In the district of Laurium are 

 valuable mines, yielding 192,789 tons of man- 

 ganese iron ore, 136,811 tons of hematite, 24,830 

 tons of zinc ore, and 9,660 tons of silver lead ore, 

 besides 6,912 tons of dressed galena, 3,084 tons 

 of dressed lead and zinc ore, and 16,074 tons of pig 

 lead extracted from the poorer ores. The special 

 imports in 1897 were valued at 114,275,516 drach- 

 mai in gold, and the special exports at 80,734,074 

 drachmai. The imports consisted of wheat and 

 meslin for 30,140,636 drachmai, yarns for 20,371,- 

 281 drachmai, coal and raw materials for 12,- 

 110,954 drachmai, fish and caviar for 5,166,870 

 drachmai, hides for 3,667,172 drachmai, sugar for 

 3,179,461 drachmai, metals and ores for 2y785,720 

 drachmai, coffee for 2,754,512 drachmai, timber 

 for 2,618,886 drachmai, colors for 2,117,843 drach- 

 mai, rice for 2,067,324 drachmai, live animals for 

 1,640,540 drachmai, and other articles for 21,621,- 

 199 drachmai. The exports were dried currants 

 for 31,841,759 drachmai, ores for 19,429,248 drach- 

 mai, wine in casks for 5,701,108 drachmai, olive 

 oil for 4,748,023 drachmai, figs for 2,064,647 drach- 

 mai, tobacco for 1,910,515 drachmai, sponges for 

 1,038,300 drachmai, brandy for 979,049 drachmai, 

 olives for 888,258 drachmai, cocoons and silk for 

 834,648 drachmai, soap for 319,285 drachmai,. 



