The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1855-08-25

lance even although Admiral Dundas may not desiry
either Sweaborg Cronstadt We have, however, geat
reliance that officers ability and discretion and be-
eve that he will engage in operation which does not
hold out fair prospect Of OF that he must be
the hest Judge; object is only to readers
against exrayagan expectations and to show that the
humiliation of enemy does not necessarily depend
upon such attack that, the triumphant result Of
wbi.h we hope in few hours to announce.
Corruption and Approaching Fall OF the
Turkish Government--British Taxation
Cause OF Emigration.
In the English House of Lords, on August 10th, Earl
Granville that the House 10 into committee
he exchequer bills (s7, eco oool bin.
After few words from Lord Moneagle and the Earl OF
Earl GREY aid-I cannot avoid taking this opportunity
of expressing my opinion Of the great mpoicy of the
Turkey. Without imputng the slightest suspicion of
French government, without implying ne smallest d:
trust of our aly submit hot he form Of the convention is
sinqrlarly calculated lead 10 future difficulties tetcen
rcou,tics, to disturb that good understanding
a financial burden much heavier than we are now led
to expect. This j. an arrangement which is to last
for a long of years, and will not be completed
until probably all who have contributed to carry it
into effect viii have either ceased 10 take a part in
the management Of affairs or have ended the term ,
Of their natural existence: We are, in the first
place, made responsible for the whole interest
Of the Turkish loan il Turkey does not pay, aud
! conceive in his senses believes that the
Turkish umpire MiH be IN e1istnce 40 gears h1ce td
there ne rcmost chance Of not bring called upoa to
pay ne interest phich htry tdtyaiaed 70 pay. When We
have paid that interest Il will be for to call upon
France reimburse her proportion. But looking at
the future, many changes may take place. and many
questions may arie between The two countries which
upon the hest possible terms. Having some sup
pofe set-o tho French may claim the right
Of Withholding that payment. We, on the other hand
admitting any such right may insist on being rcim
bursed, and difficulties may arise between The two
countries. We have examples in our own history how
little those who conclude arrangements Of this kind
foresee what may happen IN the course Of very few
years Your ordshps cannot forget the circumstances
OF the Russian Dutch loan We al remember this
guaranteed that loan. We also know that the honor
OF this country stands deservedy high aud that no party
will ever sanction any Of proceeding which not
consistent with good fh yet within very few years
that arrangement, circumstances :arosc which made
very party IA this country argue we were
longer called upon to continue payments account
of the Russo-utch loan. Those who remember the cir
cumt ances aware that the government We're scarcely
able to maintain the arrangement In the House Of Com
Lord DrSNAs said his father, who Attorney gene
raj the time expressed his opinion that the rupture
between Pelgiu aud Holland did not in any way affect
obligation, and that good faith required the pay
ments should not be interrupted; those payments never
were interrupted, and had always been made ia due
course.
Earl Gm5.--The statement Of the noble baron
firms my argument. He states truly his respected
father gave opinion, the soundness OF which
doubt, that the obligation Of this country continued
binding. Notwithstanding iats high opinion, ID was
with the utmost ihculty That, the government
able to maintain in The House Of commons The obligation
Of continuing the payments Nothing but the positive
hold Office il they defeated coupled with very great
exer,ions their part enabled them to m inaia that
respecf 10 France b contemplate tia, t,c1g hirty
pears heltce he gotJn1t ehic might hen exid ~ Ffaae
Would moi Contend tAct circumstances had occurred
10 uiieto than from ne obligctton, and would
not decline to pay their share Of the loan, leaving
the burden upon These circumstances not only
possible but probable The whole system Of guarantee
ing for foreign countries Is that experience has
taught it is desirable to abandon. loan is indeed
subsidy in Disguise II Is true told 1T 4 only
your that is wanted; the obligation viii never fall
due the resources Of Turkey ample that tho
OF your credit Is all that i wantedv This il the ian
mn, Is
seniors who wish TO prey upon their ignorance and Gre
duly. They say There Is no difficulty about getting
the money, but the money lender likes to have
cury; It il only putting your name upon the back Of
the bill; it is mere FORM and does not signify any
thing Too often the young gentleman afterwards finds
that il would have been far cheaper togye his assistance
10 his friends by direct gilt loan than by the mode
Of backing biil. The government has taken similar
il will be followed by the results believe that
out Of all the millions which this country has voted in
subsidies, lot one Of those subsidies has been fol-
lowed by the advantages which this country has OK
pected from them. sin, if We u have subsidies,
let have them in plain and straightforward manner
you may take security that viii DO devoted to the
purposes for which it was intended II yoa say you will
pay the bills you may send your officers to that
the money 10 the soldiers and to the merchants who
supply provisions for Them and your object will then be
accomplished But ii you only give security Tor Turkey,
You cannot without setting aside her independence
nation prevent her from having tho control Of the
corrupt d all oocernms,,is ne Turkish sorer,aea All hat
Is notorious that q The MONEY phich ought 10 80 into ne
Inksh T1osary lor Ppblc purposes no s"'au proportion
goes ovo tne ndnds z emIuW I0W0s ono 9fP,.y moaey
teho"s. ionr iofashps wen remember tne distressed
sate oi tne lurlsh army IN ASA hst Whter IVY inc
eoncuI,en, testimony u az the neNsIapcLs INC sate
70 Which tne army WIS reduced was not pecanss iaf-
hey han nov = snhesht sum o. money WhereWith 20
Jay u,e nen' ou. p'cu,o the iuns nan ueeh we SUD
!ect OF nnpounueu pecuauon. IN ~ countries there
y u,sposition 70 eSfavaSance ~ Inc sSpena.-
ture Of the government money, hut IL country Ike
,urtey hat eN,ravsginco ah1 pecumuon ~ - imposl
pe 70 eheck. di no, n,ehd 70 ADVERT 70 w, suDec,
put y has been incidentally raised ~ my noble trend
before s down rs the hli before the House provides
another loan 81 y oooooo ~ L Impossible Tor me 70 or-
bear expressing me alarm ana regret win winch nave
received TINS proposal Tor an ADDITIONAL loan NY lords,
We have already sanctioned loan OF tioooJooo Then
there ~ the guarantee OF the Turkish Loan which, N the
most favorable siew = equal TO another ioan o. ha me
nominal amount i2ooo,ooo then the afoeo,oJo when
The government are now authorized to raise making
teta % oloooto % borrowing winch permanent mas
sanctioned IN single session. my tor, jor one tooS
nun ne utmost dtsmd3 ~ sch dfuu5hs upon N realuros
- eonrg. Ny noble friend ha already caucd atten-
ION ~ lhe enormous amount OF our present eApend-
ture io ~ addition T. these loans and our argoy in
creastn aAatnh we expenditure y going on ~ rate