10 OCTOBER 1908, Page 3

The Times of Monday published from its Constantinople correspondent details

of the new Turkish loan. The Ottoman Bank engages to issue the loan, at option, at 85. The loan is for the nominal total of £T.4,711,124. When all the deductions have been made, the Government will have £T.1,151,664.80, and an increase of £T.50,000 in the annual Customs Revenue. Of course the loan has yet to be sanctioned by Parliament. Finance is evidently going to be a very difficult problem under the new Constitution; yet everything depends upon it. The estimates of the assets of the Empire seem to have been too optimistic, and, after all, the Young Turks have found it impossible to cut down the salaries of the officials. To reduce salaries is to tarn many wellwishera into reactionaries.