"ملف 61/11 V (D 95) مسائل متنوعة خاصة بالحجاز ونجد" [و‎‎٩‎٧] (٥٣٠/٢١٠)

3
fep J found it inevitable to follow this method. It was eventually established that the
method was not a bad one, and that it helped not a small number of creditors to
! 1! have the whole or part of their debts reimbursed.
lJ ; 4. When the final account was made up after eleven months of the arrange-
3 ment introduced by Royal order regarding the division of the estimated Treasury
lllt ! revenues, it was found that most of the item debts chest, mentioned therein (as
^ deriving) from the capital value of the estimated revenues, had been discharged
. in meeting the drafts on customs which had been given to creditors. That item
| 3S slightly exceeded 14 million miri piastres, and in view of the falling values of
M silver coin the net gold value of the item debts diminished by 50 per cent, of its
* value estimated in the budget. This item equalled the amounts appropriated to
P 10 !; creditors by the drafts on customs.
5. When the Government found that they would not be able to settle all debts
N due from them, as had been expected, they made all possible endeavour to obtain
W such amount as would suffice for the payment of their debts, but they have not
11 ^ succeeded in finding the desired solution. The Government was therefore bound to
advise creditors before the time fixed for payment of the fact that it was beyond
4|| the ability of the Government to pay the amounts which were expected to be paid
out of revenue, and in view of this fact they wish to explain the matter to those
NUl whom it concerns, showing, meanwhile, the precautions which were taken to
avoid this state of affairs, but which have failed.
6. As a result of their endeavours, the Government have succeeded in
obtaining a sum which enables them to pay 5 per cent, in respect of profit (interest)
for last year only; this sum is ready on demand and will be paid to those concerned
M shortly. It is hoped that the Government will succeed during next year in
settling the whole, or the greater part, of these debts, subject, as mentioned above,
to the state of the revenues improving generally.
7. In conclusion, the Government of His Majesty wish to express their
regret for being obliged to follow this course, which they would have preferred
to avoid, following another had there been no such general distress, and they
trust that creditors will remain confident of their definite intention to take every
action that may lead to the complete settlement of these debts. They assure them
f of their true desire to do so.
(Seal) Ministry for Foreign Affairs.