New-York daily tribune., 1854-08-25
THE NEW TURKISH LOAN.
From ne London Times. Aug. ii-Cffy drfteie'

From ne London Tgmss. Aug. ii-Cfiy drttae
The result Of the negotiations for Turkish ioan
be watched with interest. Former circumstances aave
dsmayed s pros poets but from the confused im
pressons they have left than from any clear conception
ibeir precise nature These however should be under
stood 1t wa. nearly three years back namely on tne
Ist Of October 1851 that Turkey first attempted to be-
come borro For some years tue currency Vi 'uo
country had e1Perienced hv the Minis
fry 10 contract loan of 900 oOo Inc terms arrsoa
a London and Paris for SIX per cent STOCK az Pa,
.,nsranteed by The Government and u Oe reihourseu
"a ear st fl2O Consos at that time were al loO ana
the reliance upon the honor of Turkey was suc "a @ oe
scrip of the new bonds in the course Oh ie" SS
ysnc.d to III premium, win the prysPov y. VI a. ,o
80; Rnmors however, became prevalent thar 'he leTns
were considered onerous at Consiantinope, 9na %
they would bo ds@yoWeS On .no h nathory and
fhatIhe scrip had been issued without ,le hi", rs
nm Imperial frmsn. For some months ine qd qa1sddoh h
a;n.d in abeyarce but il was eventually setl,eu "
- f choir money TO the scrpholders, win uohus Vi
ahout per cent After this no iurtoer Proposa's ,S
heard Of until December last when NaS ,as 81 loan Of
Pa,is nd London and arranged the detais Vi q % I'D u
30 700 600 one half of which was TO have oeen
~ The Cyeat MoJtlier, with the sSicton OF ie .teu
han oi every one however the proper hrn' ap
reared again in this TO be wanting anu W Wb sst
fiors wero broken of Finally! ON vo PotSschld an
i;,,Ie mora III an fsur months ago, McssrS L.
Donnced tbe coiapieton of terms comprising OG 80 y,
80 500 coo 10 six per cont stock al 60 b fJ
rs Conso,s al that time were az eyt' anu ol 'Ho a,
yeas. ;ns hasty quotations OF the scrip were mauc
"A nremium Ii soon however, 9eciiheu 49, W kve days
AID the declaration OF war, whicu "PPo:S .r >, -
sfterpsrd having sent Consois ht pS ~ mar was
fbe public withdrew from snoscroiDs' ""O '-
not carried further - ,h. ,bs nrono
# Is by the light Of these circumstances T1sy
esis now nbou, tu be pul forth must DC
sia sa two poins First the extent OF d's'ieIis 80
hx the disavowsl OF the original Voh-ao a, har ability
ss,t the resent portion OF Turkey IA fos .,b
nc alan sny engagement che may contract, c,npsoe% 80 80
hat II was at that period. Ia respect 10 'no ~
sharo IL no ouestion to the correctness os o ~ an
~, IL ,xss isued premanrely 80 far as concerns
ma l"s 81 Inc frman which necessary 10 lts
iS;,v Rut the charge against her was, inaI Pm
actors might have been 10 some eAteh' -.
e:noa tbev committed error, except a. tuo! "a
sid ~ ali ihe high fupctionaries OF rue Sui az @
sy that no notice was gwen 10 'nei ., an! ,, 81
i;,v nn,l the loan had been many SSa ssd srnsy
large premium and part 9i Sn prnent and sopled to
p rseraiye ed by the Turkish GoVernes, ancaIns ,he
Deen eeo's; ; 81 the State The hour for ca.oe'as M % @
ts; on any other terms fhah t'a' " P~.:sm7nm had
I O. the bodors namely IL per - who most
80 60 nsssed and IL contendeu y! &c, her tra-
tiv 6esed TO see Turkey sustain a. o. satisf, the
ditto n honor that nothing SNORT " i, n.r cent pre-
olro - nn,s ~ the case Instead 81 i, Pment Pc of 3
Ie9uIchoy sy'r Me limited hrseh TO INC p and inter.
MUM ,r,;ng at the same time princlpet, T
p. 1,ii To the extent OF that auo"e a,,hough in
.,s clear gamers by the ;.h.st onoa-
P; holders who had purchased a. lne - nn ius6ca-
us,s;ned severe loss This ho"eNei, nsoI. 10 an
<',sny more than if man VINO har ~, 49, sgant aud 10
refuse 70 49, nov cent in settlement OF the a.
~ ,yat be rene mbered thai tho cni s;rac, and
Du. ia not that Turkey dishonerec any ynst inter-
any ~, hnt that she failed at moment o, of
s neynexty 10 act up TO the n's; eonity The dis
.oysi nrd peculiar question OF h.ve been the work
nI nose' 1 - Fbs loan Is well known 10 nave "s'A "'