The Sun.
London, England, 1855-12-24 00:00:00

(From (he Daily News.)

The public have not yet forgotten the exciting struggle
which took place in the House of Commons on the 20th
of July last. The House was invited by Ministers to
agree to the preliminary resolutions sanctioning the
Turkish Guaranteed Loan of five millions. The conditions
of this financial operation had already been determined
in a " Convention" concluded between the Governments
of England, France, and Turkey. That the proposal
would be supported by a majority of the Lower Howe
was never doubted. Yet, through a skilful but unscru-
pulous manoeuvre of the Opposition, Ministers
only escaped defeat upon this important question by
a narrow majority of three. It was an anxious night
for the Cabinet. Four or five times did Lord Palmer-
ston rise, in evident anxiety, to defend the Government
proposal. His lordship's chief argument was, that
Turkey was in immediate want. of the money, and that
the most disastrous consequences would ensue to her
army if pecuniary relief were delayed. Mark his words :
But is it worth while, for the sake of that difference of
opinion, to send the convention back to France and to
Turkey to be remodelled—throwing back, allow me to say,
at this time of the year, the assistance which this lean would
afford to Turkey to an indefinite period ? For let us re-
member the time of year at which wo are discussing this
matter. No change can be made without a fresh conven-
tion. That convention must go to Constantinople, and we
must wait till it has been ratified, and must come back to
Parliament for sanction and authority to carry it into
effect. We are now in the middle of July. Is the house
prepared to sit till that change has been made? Or will
they insist upon it that no effect shall be given to the
measure until the next session of Parliament, when it
will be too late to afford to Turkey the assistance which we
think we are bound in honour to afford her?
Speaking against a proposal for altering the terms of
the convention, his lordship, with increasing earnestness
of tone, used still the same argument—that there was
" no time" for a change of arrangements :
If (he observed) we were talking in January, supposing
it to be right, there might be time to do so ; negotiations
might go on a treaty might be signed, the ratifications
might bo exchanged, and there would be time for the con•
vention to be submitted to parliament for its concurrence,
and to be carried into execution ; but in the present state
of the session, with the end of the session so nearly approah-
ing, that arrangement would practically postpone till the
next session of Parliament any assistance to the Turkish
Government, in the way of helping them to obtain a loan ,
and I have no hesitation in saying that that would be at-
tended with the most disastrous consequences in regard to
military operations. (Cheers.) I declare to the right hou•
y
r ewqiul r
bee s form ostthcealmaintenance
gentleman (Mr. Walpole) and the house, that it is per-
fect conviction that if wo refuse to give to Turkeyl those
additional dheitri oanramlthemeans
which she
consequences
It was probably to weighty argument that Minis-
ters owed their escape from defeat upon the evening in
this
tons.
question. Let us examine how far their acts have agreed
with their words—how promptly they have applied to
the pressing necessities of the Ottoman Army the funds
authorised to be raised under Parliamentary guarantee.
We will first adduce a few fact., to which we chal-
lenge contradiction. There is at 'the present moment
lying in the Bank of England a sum of no less than
2,500,0001., out of the total of 4,0011,000/. already
paid by the subscribers to the Turkish loan ; conse-
quently these loan funds have as yet been drawn upon
to the extent of only 3,500,000/. for the service of the
Ottoman Government. Of this sum of 1,500,000/ ,
600,000/. was handed over to the Messrs. Rothschild,
ill liquidation of advances previously made by that
firm to the Porte, the Government of the Sultan
having been driven to such dire straits for want of
money that it actually could not wait for the guaranteed
loan with its accompanying formalities. The original de.
posit of 500,0001. on the new loan was paid into the Bank
on the 22d of August, and, we admit, was promptly re!