During 1905 and 1906 about 3,000,000 was paid into the fund through the liquidation of the DaIra loan.
The settlement of 1880 was effected on the basis of the proposals made by this commission, and was embodied in the Law of Liquidation of July 1880after the deposition of Ismail.
This new fund started with a capital of 13,376,000 and was replenished by the surpluses of subsequent years, by the interest earned by its temporary investment, and by the sums accruing by the liquidation of the Daira and Domains loans.
Of the vessels to be sent to Paris with American cargoes which were to be sold for the liquidation of French loans to the colonies made through Beaumarchais, few arrived; those that did come did not cover Beaumarchais's advances, and hardly a vessel came from America without word of fresh drafts on Franklin.
But since the non-German nationalities were not prepared to accept such a peaceful settlement, the liquidation between the monarchy and the new republic was confined to German-Austria, and Lammasch's friendly offices might certainly be thanked for the fact that in this quarter the settlement was achieved quite bloodlessly, in favourable contrast with the two years of fighting between Czechs, Poles, Ruthenians, Magyars, Rumanians, Southern Slays and Italians.
In, a previous table it has been shown that under the Law of Liquidation of 1880 the total debt was L98,64o,000.
The convention left the permanent rate of interest on the debt, as fixed by the Law of Liquidation, unchanged, but to afford temporary relief to the Egyptian exchequer a reduction of 5% on the interest of the debt was granted for two years, on condition that if at the end of that period payment, including the arrears of the two years, was not resumed in full, another international commission was to be appointed to examine into the whole financial situation.
The sales of Domains and Daira lands were to be restricted to E.300,000 a year each, thus prolonging the period of liquidation of those estates.
Fortunately for Egypt, the British government contrived to solve the international difficulty by timely concessions to the powers, and succeeded in negotiating the London Convention of March 1885, by which the Egyptian government was relieved from some of the most onerous stipulations of the law of liquidation, and was enabled to raise a loan of 9,000,000 for an annual payment of 135,000.
The liquidation of the financial inheritance of the Convention was no less difficult.
The sinking of the " Princess Alice " in 1878 was a serious blow to the London Steamboat Company, which collapsed, and was succeeded by the River Thames Steamboat Navigation Company, which went into liquidation in 1887.
By the Law of Liquidation the floating debt was paid off, the whole debt being consolidated into four large loans, upon which the rate of interest was reduced to a figure which it was considered Egypt was able to bear.
Immediately the powers protested against this infraction of the law of liquidation, and the Caisse applied for a writ to the Mixed Tribunals.
His resignation was brought about by his connexion with a financial company which went into liquidation in circumstances calling for the official intervention of the board of trade.
The way in which Jackson accomplished these things was such that it cost the country ten years of the severest liquidation, and left conflicting traditions of public policy in the Democratic party.
He permitted laymen to hold certain public offices, under surveillance of the prelates, organized a guard from among the Roman nobility, decreed a plan for redeeming the base coinage, permitted the communes a certain degree of municipal liberty, and promised the liquidation of the public debt.
Under the common law of Scotland, a submission of future disputes or differences to an arbiter, or arbiters, unnamed, was ineffectual except where the agreement to refer did not contemplate the decision of proper disputes between the parties but the adjustment of some condition, or the liquidation of some obligation, contained in the contract of which the agreement to submit formed a part.
Through the rapid depreciation of Argentine credit, the great firm of Baring Brothers, the financial agents of the government in London, became so heavily involved that they were forced into liquidation, November 1890.
But this company, after extracting some 150,000 tons of ore in 1888-1889, went into liquidation in the latter year.
27-31 1918, could only be regarded as an attempt on the part of the impotent Monarch to bring about a friendly liquidation between the peoples who were separating from each other.
In1818-1819the legislature chartered 46 banks, nearly all of which went into liquidation during the panic of 1819.
The large expenditures of the French canal company made the department singularly alluring to corrupt officials of the central government, and Panama suffered severely before the liquidation of the company in 1889.
He began by measures of liquidation: the Chambre ardente of Colbert 1661 to 1665 to deal with the fa,rmers of the revenue, ~ the condemnation of Fouquet, and a revision of the funds.
But credit cannot be commanded either by violence or by expedients; between July and September 1720 came the suspension of payments, the flight of Law, and the disastrous liquidation which proved once again that respect for the states obligations had not yet entered into the law of public finance.
Consequently, the Spanish government had once more to attempt to make both ends meet by asking its creditors to assent to the suppression of all the amortization of imperial and colonial debts, and to a tax of 20% on the coupons of all the debts, whilst at the same time the Cortes were asked to authorize a consolidation and liquidation of the floating and war debts and an annual increase of 3,200,000 in already heavy taxation.
In France from 1599 to 1789, more than 70 of such companies came into existence, but after 1770, when the great Compagnie des Indes orientales went into liquidation, they were almost abandoned, and finally perished in the general sweeping away of privileges which followed on the outbreak, of the Revolution.
In 1893 the Roman Bank was put into liquidation, and the other three limited companies were fused, so as to create the Bank of Italy, the privilege of issuing bank notes being thenceforward confined to the Bank of Italy, the Bank of Naples and the Bank of Sicily.
For here again the restoration of the disinherited prince of Constantinople supplied an excuse quite as plausible as the liquidation of the debt to Venice.
Upon the dissolution of a marriage in community of property, or in the event of a judicial separation a communione bonorum, the property of the spouses is divided as upon the liquidation of a partnership. It is not necessary here to refer particularly to certain exceptions to this general rule in cases of divorce.
The history of the 19th century is the liquidation of an enormous bankruptcy, and the completion of the circle which confines the Spaniard once more to the soil of the Peninsula.