Bulgaria's Chance

Taranaki Daily News, Volume LVII, Issue 66, 6 August 1914, Page 3

Bulgaria's Chance

, II.WiI'KUKD 1!Y l..'a a OK Fi'XUS. Between Bulgaria, and Servia, those one-time allies, thore ia no love lost. Bulgaria has not forgotten nor forgiven the defeat that she suffered at the hands of her neighbor, with the consequent loss of much territory, and Servia has not forgotten the treacherous attack made upon her by Bulgaria in the hope of wresting from her her hard earned trophies of war. Since that time Servia has leaned more and more towards Russia, while Bulgaria is said to be on good terms with Austria. "There is every indication," states a writer in the "Quarterly Review," "that Czar Ferdinand of Bulgaria is at present on very friendly terms witk Austria-Hungary. His repeated journeys to Vienna nave caused endless comment in the European Press, and the moderation and calm displayed in the capital throughout the crisis have been . interpreted by some as an additional proof of Austrian regard for Bulgaria. It is impossible, however, to over-em-phasise the importance of these relations and to be over-astute in trying to read between the lines. Throughout her existence, Bulgaria has proved again and again that it is her fixed determination to pursue a policy of independent development. And she is just as unlikely to commit herself too deeply with Austria as she would be to support Servia in her plans of territorial expansion, if she really suspected that such an expansion would ultimately favor the interests of Russia or PanSlavism. . . . Although Bulgaria rejected an exaggerated form of Russophilism, she has never forgotten the ties of gratitude that bind her to Russia." Early in the year the elections gave the Russophobe Cabinet a majority, but the consensus of opinion seems to be that Bulgaria will plough her furrow alone. Financial reasons may force her to observe neutrality.

A highly significant article in the '"Frankfurter Zeitung" gives some interesting facts. According to that journal, tint financial position in Bulgaria is as had as it possibly can be without the country declaring "herself bankrupt. In the first place, Hulguria, though the most ambitious, was the least prepared of any of the .States to wage war. Consequently the effect of her economic position is that she lias made the greatest sacrifices.

Beforo the war, Bulgaria was comfortably enough off for an agricultural community. .She had improved her status coiisMtf-ttbly, but all these voars ot steady plodding work to regenerate the country have been rendered Useless Scrvia, and even Tur'.-cv, arranged to Moat loans in Paris, Ut"Bulgaria" partly as the outcome of hj,- futile diplomacy, but largely as the result of economic stress, was quite unable to induce the financiers to consider the chums. She will doubtless come in somewhere at the tail-end, and must pay ai! exorbitant -price for the necessary" aid At this juncture the position is "esr,c,■ally awkwa.nl for liul-aria. To rc«to"c affairs to a more normal condition, a unking syndicate has been organise,; to i„\\ cr the premium on -'obi To aeh.evc this end a bovcott is in procc-s l<> coerce the other banks to join the •;.vn„,cato, and to restrain these ban** ion. buying bills of exchange abo.-c he rate specified. It is the incvilabl '"dequeue of the war, ami the hon,- ',',: S '" !an V ,al A -roup ','„• em-h ,erman ami Austrian banks ■"' S'.KI to be eiitertainimr tin- idc-, ,1 « I'Uigariaii State loan l.nf (1, <■ -ers are shy. The (Z^X^ s !' l "-i"»ttoniakeitcl,a ) . thai. fin-V,.,' '"'l i'o-:ln.ii i s thor„ugiii : , |,;„[_