The Algeciras Conference of 1906 took place in Algeciras, Spain, and lasted from January 16 to April 7. The purpose of the conference was to find a solution to the First Moroccan Crisis between France and Germany, which arose as Germany attempted to prevent France from establishing a protectorate over Morocco.
The final Act of the conference of Algeciras, signed on April 7, 1906 covered the organization of Morocco's police and customs, regulations concerning repressing the smuggling of armaments, and concessions to the European bankers from a newly formed State Bank of Morocco, issuing banknotes backed by gold, with a 40-year term. The new state bank was to act as Morocco's Central Bank, but with a strict cap on the spending of the Sherifian Empire, with administrators appointed by the national banks that guaranteed the loans: the German Empire, United Kingdom, France and Spain. Spanish coinage continued to circulate. The right for Europeans to own land was established. Taxes were to be levied towards public works.
The Sultan of Morocco retained control of a police force in the six port cities, which was to be composed entirely of Moroccan Muslims (budgeted at an average salary of a mere 1000 pesetas a year) but now to be instructed by French and Spanish officers, who would oversee the paymaster (the Amin) and regulate discipline and could be recalled and replaced by their governments. The Inspector-General in charge would be Swiss and reside in Tangiers.
At the last moment, the Moroccan delegates found that they were unable to sign the final Act, but a decree of Sultan Abdelaziz of Morocco on June 18 finally ratified it.
Famous quotes containing the word conference:
“For 350 years we have been taught that reading maketh a full man, conference a ready man and writing an exact man. Football’s place is to add a patina of character, a deference to the rules and a respect for authority.”
—Walter Wellesley (Red)