Alone, the external debt held by foreigners continued to enjoy exemption from taxation, under the agreement made on the 28th of June 1882 between the Spanish government and the council of foreign bondholders, and its coupons were paid in gold.
The Caisse was authorized, after payment of the coupons on the debt, to make good out of their balance in hand the difference between the authorized expenditure and the non-assigned revenue.
The unified bonds and coupons are exempt from all Turkish taxation existing or to come.
A few days subsequently the prince learned that the German railway contractor Strausberg was unwilling or unable to pay The rail- the coupons of the railway bonds due on the 1st of way crisis January 1871, which were mostly held by influential of 1871.
Measures were enforced to prevent Italian holders of consols from sending their coupons abroad to be paid in gold, with the result that, whereas in 1893 3,24o,ooo had been paid abroad in gold for the service of the January coupons and only 680,000 in paper in Italy, the same coupon was paid a year later with only 1,360,000 abroad and 2,540,000 at home.