The Sun.
London, England, 1858-08-30 00:00:00

THE TURKISH LOAN.

The expected Turkish loan has been announced. It is for
an ultimate sum of £5,000,000, but the first issue will be
limited to £3,000,000. The interest is to be 6 per cent., and
the subscribing price 85. The regular payment of the divi-
dends and the ultimate redemption of the principal at par
are specially secured by an assignment of the Customs' duties
and octroi at Constantinople, which produced last year
£600,000, or double the amount of the interest now to be
provided for; and these revenues are to be administered by
a commission of five members, consisting of the Fiaance
Minister, two other Government functionaries, and Messrs.
Hanson and Falcoonet on behalf of the contractors. The
proceeds of the loan are to be applied faithfully to restore the
currency system of the country by the withdraw al of the incon-
sertible Government paper,&c., according to a definite plan,
to be promulgated for the purpose. To the subscribers for the
first issue of £3.000,000 the option is given of taking the re-
maining £2,000,000 at the same price on the Bth Oct. next.
Otherwise this £2,000,000 is not to be issued for a year at
any price below 90. The instalments are payable monthly,
terminating January 10, 1859. The sinking fund is to be 1
per cent., and will be augmented, in proportion as these
bonds are cancelled, by the appropriation of the sums which
will thus be saved by the cessation of interest. Messrs.
Dent, Palmer, and Co., are the contractors, and all applica-
tions are to be made to them or Messrs. Mullens and Co., or
Laurence and Co. on or before Thursday afternoon.
This loan may constitute the turning point in the fate of
Turkey. Until the finances of the country are put upon a
sound footing every effort for its advancement must
he liable to be frustrated, while its political indepen-
dence is likewise jeopardized, since a Government
harassed by pecuniary difficulties becomes not only reck-
less, but loses all sense of independence and self-respect.
The proposed L 5,000,000 will, it is understood, amply suf-
fice to redeem the whole of the depreciated currency now
floating, and it in future all the obligations of the Govern-
ment are met in specie, or its equivalent, the credit of the
State will be such as to enable it to command from the capi-
talists of Constantinople every aid that may henceforth be
needed, since, looking at its commerce and resources and
the insignificance of its debt, scarcely any country possesses
in a greater degree the elements of financial prosperity.
According to the statements now made, there can be no
doubt that the funds to be raised will be devoted solely to
the object named. The duties of the commission are to be
defined for that purpose by an Imperial firman, and any de-
viation would at once become known. From the manner of
its appointment, moreover, with the Finance Minister at its
head, an occurrence of the kind would constitute a deliberate
breach of political faith beyond what any European Govern-
ment—always excepting that of Spain—could now commit.
On the whole, therefore, the proposed terms seem such as
may be regarded with favour. To the commerce of England,
France, and other countries the result of its success would
be incalculable. In nu quarter is trade or enterprise more
inviting, yet no prudent merchant will now venture any-
thing in that region beyond the most limited and ordinary
transactions, from the total impossibility of making any
calculations under the pernicious state of its exchanges. It
is probably no exaggeration to conjecture that during each
year of the continuance of the existing confusion Turkey
loses far more than the entire five millions she proposes to
raise for her extrication. Should her Government in any
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Article.

His Excellency the Greek Minister and Madame
and Mademoiselk Tricoupi have returned from Paris, and
are staying at Dover for a few weeks.
The Duke and Duchess of Buccleuch have left
Montagu House, Whitehall, for Drumlanrig Castle, Dum-
fries.

---
The Earl and Countess of Derby and Lady Emma
Stanley left town on Saturday, for Knowsley Hall, Lanca-
shire.

The Earl and Countess of Verulam arrived at
Gorhambury, Herts, en Friday last, from Aix-la-Chapelle.
The noble earl is in much better health from his visit to the
Continent.

The Countess (Dowager) of Verulam remains on
a visit to the Earl and Countess of Clarendon, at The Grove,
❑ear Watford, Herts.
The Lord Chancellor, after passing a few days in
town, left on Saturday to join Lady Chelmsford and family
at Malvern.

Lady Naas and her infant daughter, we are happy
to learn, are progressing favourably.
A report is current in Paris that the Emperor's
life is insured, to an immense amount, in the City of London.
Court Journal.