The prince, in return for the gambling concession, has been getting an
annual income of a quarter of a million dollars and all the expenses
of running the State of Monaco, including the maintenance of the
army and the royal palace. He recently granted a further contract to
the "Monaco Sea-Bathing Company," or to give the gambling concerns
the full title "La Societé Anonyme des Bains de Mer et Cercle des
Etrangers à Monaco."
This concession now extends to 1947, and the annual income of the
prince has been raised $100,000. Every ten years it will be raised an
additional $50,000. In six years time the Casino will also have to pay
him a lump sum down of $3,000,000. It is stated that the prince of
Monaco is by no means in favor of the Casino, and that he abhors the
gambling and the consequent scandal in his state, and that could he do
so, he would at once stop it. But in the old original contract it was
agreed that the concession should be extended to 1947, and the prince
is not rich enough to break this contract and pay the indemnity which
the law would quickly assess.