322 tHE MIUTARV AKD fiNANCUL 



THE MILITARY AND NAVAL EXPENDITURE. 



The interest on the Passif Debt is only stated. The National 

 Debt of ;^i4,354,oi4 includes the "Passif" and the "Active" 

 Debt, and the latter was contracted mainly for railways, steamers, 

 harbours, and lighthouses. 



Annual Interest of 



Expenditure, Army and Navy, National Debt, National Debt, 



1890. 1890. 1890. 1890. 



.;^2.54r,437- ;^Si3.S3°- ;^2o6,i5o. ;^i4,3S4,oi4- 



PORTUGAL. 



THE ARMV AND NAVY. 



The Army' of Portugal, based on the statutes from 1864 to 1885, 

 consists of the Standing Army and the Municipal and Fiscal Guards, 

 and is formed partly by conscription and partly by voluntary enlist- 

 ment. Freedom from conscription may be purchased by a fixed 

 sum, amounting to about ;^8o, payable to the Government. The 

 time of service commences at 21, and continues for 12 years, of 

 which 3 have to be spent in the Regular Army and 5 in the First 

 Reserve, and the remaining 4 years in the Second Reserve. 



For the past 30 years there has been no Budget without a deficit, 

 and in 1890, the excess of expenditure over receipts amounted to 

 ;^i,99i,io7. The Public Debt of Portugal dates from the war, 

 1796, when the first loan of ;^9oo,ooo was raised. It has steadily 

 increased since then, chiefly on account of the wars that have been 

 waged, and through the necessity of raising loans to meet the great 

 deficits. In 1826 it amounted to ;^7,7oo,oooj in 1856 to 

 ;^20,974,ooo ; in 1866 to ^£45,255,000; in 1871 to ^64,333,000 ; 

 in 1886 to ;£i 15,384,000 J and in 1890, including funded and 



