1929 to 1934 · Datasetspan
Syria and Lebanon keep paying an Ottoman debt that Turkey had halved
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The Ottoman empire left its successor states a debt owed mostly to French financiers. The new Turkish Republic negotiated its own share down by half. Syria and Lebanon, held under French mandate, went on paying theirs in full, and 164 million francs left the common revenue fund between 1929 and 1934. The same fund carried the Armee du Levant, estimated at 40,000 men in 1926, together with irregular units, the gendarmerie and a large body of imported experts and administrators. Taxes raised locally were held above what the civilian side of government was allowed to spend, and the difference paid for soldiers and creditors. That transfer was 16 percent of civilian revenue in 1928. By the mid 1930s it had reached 30 to 40 percent, and in 1937 it approached 70 percent. Customs rates in the mandate stood near 30 percent of import value while Egypt, Palestine and Iraq charged 15 to 20.