"الملف 35/87 VI A. 38 الإصلاحات والجمارك والشؤون المالية في مسقط" [و‎‎٢‎٠‎٩] (٤٤٠/٤٢٥)

suia due in 2i years as now required they should "be
granted an additional year of grace, and that the period
should he extended to 3i years.
The presence or a British adviser in the State
connects us with the outward want of pr^Si^ss which
exists and few people would stop to consider that we have
put the finances of the Estate on a sound 'basis.
The time over ich the payment of the interest is
spread is a matter of comparative indifference to us since
we continue to receive our interest on the money expended.
I think it is time that Muscat should show very
distinct signs of our assistance in putting her finances
in order. I would then recommend that the payment now
due should he spread, not over a period of years as
reauested, hut over a period of 5 years.
This would reduce the annual payment of Es.
93,480-10-0 per annum, undoubtedly a strain on a btate
with a total income of Bs.10,60,000, especially taking
into consideration the heavy fall in the value of the
Dollar.
My suggestion would make the annual payment to
Ks.46,740-5-0 an amount which could he paid without
difficulty and it would leave half a lakh of rupees per
annum for the public works, schools, etc., which are so
much required. I would, at the same time, ask whether
the financial authorities would not consider the question
of a reduction in the rate of interest.
The loan was made at a time of considerable
financial stringency in the world at large, and the 6%
agreed upon was a generous rate. Would it not he
possible to-day to consider a reduction to 5^ ? We have
no