Nothing has come from the East this week except rumours,
all of which point to some projected _pressure to be brought on Turkey by the Imperial Powers. Action seems to be delayed by the illness of the Grand Vizier, whose digestion is either diplo- matically or really out of order. The Times, however, publishes. what is. really important Eastern news, a Viennese calculation,. said to be official, and based on an exposé laid before the on October 1, as to the true position of the Trea- sury at Constantinople. According to this, the actual revenue will be only, £15,300,000 sterling, and the outlay of the year. £32,.400,000, leaving a deficit of £17,100,000, _of which only £2,000,000 is .due to, the Bosnian insurrection. This is after de- ducting the addition to floating..debt which the 'Viennese writer puts. among the expenses. Even, therefore, if the Porte saves. /6,000,000 by the repudiation of half her interest, the Treasury will still be £11,000,000 short. If this statement is correct, as the Times seems to believe, the bondholders will not have a penny,. and even though it should be exaggerated, they can be paid only by leaving all officials and soldiers without cash, that is, in fact,. allowing them to plunder the provinces, which cannot be done long. • With Turkish credit, in fact, Turkish finance collapses.
Previous page
