The New York herald., 1875-09-22
The Rebellion in Turkey.

Our dispatches from the Principalities
are vivid enough, but they should be read in
connection with the admirable letters which
we publish from our correspondent at
Vienna According TO our dispatches, both
from London and the capital town of Servia,
the rebellion in the Principalities is making
steady progress. Prince Milan is said to be
thinking about war in Bosnia. There has
been an engagement between the insurgents
and Turkish brigade, resulting in the re-
treat Of the Turks. The Turkish govern
ment is said to have pushed the railway for
ward with all possible despatch. There is
O rumor from Vienna that Turkish army of
forty-eight thousand men is on the frontier
of Servia.
It is well to remember in reading all these
dispatches from the Principalities that there
is nothing now more speculative than Turk
ish securities. They hold pretty much the
same position in the London market that
Erie and Union Pacific Railway shares do in
our New York market. That is to say, they
have very little real value, and are tumbled
about at the mercy of every speculator.
few days since there was a panic in these
securities arising out Of the rumor that the
Continental Powers thought Of interfering in
the affairs of Turkey. AS soon as the panic
had done its work the stocks resumed their
natural position We can well understand
how the manipulators of news would arrange
a series of dispatches from the Principalities
intended to affect these values Conse-
quently we read all this news feeling at the
time that we are never certain whether it is
a revolution or q speculation.
Thus far we have seen nothing in the East
ern question to raise it above the dignity Of
q stock-jobbing speculation. 1t is possible
that out of this little spluttering war,
which as yet has not attained the proper
tions Of an Indian fight on the Plains, COM
plications may arise which will involve Aus
tria Germany and Russia. If these great
Powers are ready for war they can find pre-
texts without trouble. None would be easier
than a revolt in the Principalities. But we
do not think that war will come, at least
general war, involving the interests Of Eu-
rope. 1t is late in the season. No expe-
rienced military commander would care to
march an army into the Principalities to en-
counter the stern and cold winter. What is to
be gained in the way Of fighting can be gained
next spring. The advantages to Austria and
Germany are contingent Austria will
scarcely care to give all her German prov
inces in exchange for the half-civilized rem
nant that lies between Christianity and Mo-
hammedanism. Austria herself is not in the
best financial condition. Her Emperor will
scarcely welcome the opportunity Of increas-
ing his debt, which would come from fool
ish war on the Danube. Russia has too
much to do in Asia to care about undertaking
new work in Europe. Therefore, while any
thing is possible in the modern phase Of
European politics, nothing is more improb-
able than war. As we before remarked,
reading these dispatches in the light of our
own most valuable correspondence, we see
nothing in this revolt in the Principalities
to raise it above the dignity of stock
jobbing speculation.