The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1868-12-27
GREECE.
Financial Condition of Greece.

[Athens dec. 81 correspondence OF the London
Time5.l
Lord Stanley directed the attention Of the world
to truth that became more impressive from being
announced publicly by the British Foreign Secretary
of state. He said that trouble is gathering In the
East, and that 1t may come quickly. The press as
Athens Immediately proclaimed that the position Of
the Creek race is one OF the elements OF this trouble
Though the material force and population OF tho
Greeks be less than OF the Turks, Roumans, Serbs
and Bugarans their moral influence is greater than
that OF any other Oriental people except the Rus
slams. The active power OF Greek nationality Is de-
pendent on the vital energy OF the Greek kingdom.
and The financial condition of European governments
afording at present the best means OF estimating
their vital energy general review OF the revenue,
expenditures and deots Of the Greek kingdom may
interest those who think about the trouble that IL
gathering IN the East
The financial condition OF the constitutional mon
archy OF Greece touches the interests OF few Eng
shmen who holders OF Greek bonds, red and
blue, and deserves some attention the part or all
10 whom the character OF England for stout financial
honor IL dear. 1t Is also important in political
light because 1t exerts considerable influence in
keeping the people in a restless ana unquiet dispo-
sitlon, eager to possess and unable to pay.
No complete accounts OF revenue and expenditure
That are perfectly reliable exist IN Greece. There
are no army navy and civil lists stating the services
aud the pay Of those who receive the public money.
Not week passes that the Greek newspapers do
ment and the Chamber have hitherto opposed pub.
hcity and yeiied IA far rs possible the details OF the
public expenditure from the public. The British
government, with an area OF expenditure encrcnQ
the globe, publishes quarterly accounts: and the
United states, with territory as extensive as all
publishesSmonthly accounts Of its treasury opera
lions.
During King Othos reign the Senate and the House
OF Representatives allowed years to pass without
demanding any accounts from ministers, and the
financial habits OF King Georges government.
though greatly improved, are far from being sum-
GENTLY regular to be under the proper control OF
public opinion. The revenue accounts OF 1867 wero
not published until near the close Of 1868. The re-
cepts amounted to about 81 900 sterling and the
expenditures TO at least 81 200 900, leaving deficit
OF cleo 900, or upwards OF twelve per cent on the
IN thu
ordinary expenditure by the imposition OF new
taxes. but the attempt had proved unsuccessful.
Had the expenditure OF 1907 and 1868 been main
tained on the same scale as that Of 1860 tho
object would have been attained Tho year
aggressive policy adopted by koumoundouros and
persisted IN by Bulrares. The revenue is estimated
at ljo,0Oo, and the expenditure, ordinary and OK
.-eordnary. ut about 81, 100000 A deficit equal to
ONT 13,r ,rc r. -" of the Kingdom must be met
ron ..,raordlpsry fss5hfc5s 10 csoss nrahclM
revolution great hnahcial reforms in,s. "' saesssu,
and past experience proves that neither the Crown,
the Ministers, nor the Chamber OF Representatives
mas the energy necessary FOR enforcing reform unless
public opinion can be rendered available to support
me reforming power in the government. Forum
ately this might be erected by Identical note ~
the three protecting Powers inviting the Greek gov
eminent 20 follow the example Of The United states
aud publish on the 9Th OF every month detailed
statement OF the receipts and expenditures OF tho
preceding month.
The spectacle presented by the national debt OF
Greece " as wonderful as the accounts OF the annual
expenditure are alarming
The foreign debts amount to.........f1i,1O 100. 900
Ihc Internal debts exceed 2,0ODO00
Miklnga t0al or more than..........f 13. 100. 0Dv
The Old uects Of 1h24 aud 1885, with Tie ar.
rears OF interest. amount to ......... eT,asO,ooo
Tue debt 10 the protecting Powers, with
arrears OF interest, to. ..a............. a5oooca
Observation-Disclosures. 14o,oon
An unpaid debt W Bavaria. GO.OOo
ire internal debts include the million sterling con
tracted 10 initiate the policy OF aggression ~ Mr.
h0nlnOundour0s the decit caused BY the lavish eN-
pchuljurc IN which M. Bugares persisted, anu The
sums borrowed rom the National and ION ah banks.
Inc interest u all these debts &c i've per cent
amounts 10 G6o5,0a0 ana exceeds one.AaH the an
nuaI revenue OF Greece, even VITA the increased
taxation lately imposed. The financial condition OF
the khg i0m must appear absolutely desperate 10
lhOe WHO are not ACQUAINTED Win the financial MIS-
tory VI Irecce qua the morality IN money matters
patr0ni.ed ny t1e PROJECTING Powers. These pro-
ci0ia hANe undo arfnn1emCnt with The Greek gov
erunent ~ Nnic thcJ consent 10 receive only aDout
Aj1Vg0 Annually ior sJAe Years account vi Jio