TURKEY'S FINANCES.

Dominion, Volume 4, Issue 931, 26 September 1910, Page 7

TURKEY'S FINANCES.

SMOOTHING DOWN FRENCH FEELINGS. By Telegraph—Pre 83 i^ssodation—Copyright.; : (Rec. September 25;.5.5 p.m.) , , London, September 24. - Sir Ernest: Cassel,: the: financier, who has ; offered to supply the loans required by Turkey, has advised the; Porto to accept France's conditions. :; It has been officially announced that tho"Cassel Group, and tho National' Bank of Turkey, in which tho group, is .interested,, are now. acting with;fche full 1 cognisance and approval of the British Foreign Office. '. "The Times'' states that Sir Ernest 1 Cassel will shortly visit Paris,-'with,: a vi-ow 'to promoting an agreement bo-' tween the Turks and the French. , A NEWSPAPER CAMPAIGN. .' (Rec. September 25, 5.5 p.m.) Constantinople, September 24. The; newspaper.'.'Tanin'' continues a violent campaign against 'tho Ottoman. Bank and, France, alleging that' France is driving r Turkey into tho arms of the Triple Alliance, ; -. Writing;., from Constantinople' recently .the correspondent' of "The : Titoes" said; "For 'better, for worse, the Navy; Law and the extraordinary Military /Budget have been passed, - , it. now remains to be seen : how. the.-.'Minister, of Finance 1 .will meet the -situation , created , by; the somewhat kvish. xiproductive.. The revenue may bo increased by financial reforms, and especially by methods of collection, ;to' ,£T30,000,000 in . three or four years' time; but tho ordinary expenditure already , amounts to about i'i'33,000,000.» Even ; assuming that tho real deficit for, the current'year will exceed. J1'5,000,000, the tendencies . towards increased military and. naval , expenditure : are very strong, and in the opinion of many well-qualified observers further demands for the. purchase of .war material and other military "requirements may bo 1 expected at no distant date., l°or the moment Djavid Bey hopes to raise, a loan of. about i£T5,500,000 in Paris, and to tide, over any further, financial- difficulties' that may arise during the year by tho' issue of «6T3,000,000 in . Treasury bonfls.'.'.'lt 'is most unlikely' that he will be able to contract a loan on such favourable terms as he obtained' in 1909, but a promise of orders for . artillery from French firms may make", the conditions easier than would Otherwise" be the case." ;