THE EUROPEAN PAWNSHOP.

Dominion, Volume 4, Issue 953, 21 October 1910, Page 5

THE EUROPEAN PAWNSHOP.

:;.' : : :;^TURKEY,RAISES A ; LpAN..- ■;-/■; By !Teleßripii—Press Yi-:'-'. ■'?,:,„: :/[_ ;::-:', :'■■ ■:, '■■'■-'Paris;.botdber',l9/;'• ■.'The:.;newspaper /"Le; Matin'i 4; : says, : the Turkish loa'h; hegotiatiqns'in' France hav« ended iavoiirabiy, J6^

A CYNICAL SCHOOL.

v -The i -fliianeial'" dispute between JVance and Turkey' is.' typical of .one of the. most questionable phases of modern ; diplomacy (writes ; the "Nation"). :.' Djevid -Pasha' had vthV~ daring bat' indiscreet:;inspiration- of; freeing Turkish ■ finance from-.the control ofthe baflkinghgtoup-'to I which' it.usually submits. He ■ accordingly went :to- Paris, .ignored- the -Government 1 and: the' older .banks,, arid- -contracted for a joanv-vrith/the-vvCredit■■' -Mobilier.," V ;-The '.i'rehoh ' Government retorts'; .by ; . refusing' its', permission: -forthe 'quoting;;ofthe new -security \oar the' Bourse: The , reasoa given: is'-. that every .Wan!- of French', capi-. tttl might, to be expended; in Frenoli-puf-"; chases '■■■ But'; Turkey; has; bought German; warship's, and'claims; a tight to buy her cannon ; in", .the ; cheapest' market, even. if that;happens-; to.'■ be'. Essen.. The. result is , a marked cooling of. the political re-? lations Turkey 'arid* the.Bepublio. Diplomacy., is everywhere.- uridp'r':. modern conditions, a means of facilitiating' the export of -.- capital, and ' nowhere- are• its : functions, so little':disguised'.as,in-France. It will'.be.'iriiei'esting: to watchvfche outcome. ■ The i Young : , Tiirks ' pi'ide ■.: themselves ;o4''i;theif. independence in : ;riiatters of.'finance. ..They, hjive been'v;;6pmewhat cavalierHoVards both French' and British firiarioiers.; 'Thejr, ■■'■'arej- . now- discovering that - their, credit • is ■ vulnerable.-. many ;:can •'■'' dbi :everythirig. for ■-; them ■, but lend;,; They • are gaining. experience - in' a very, cynical;; school/' . : :• ■■• ■■:■■■ . -'.■■; ■