The New Orleans bulletin. [volume] (New Orleans [La.]) 1874-1876, 1875-11-11
LEAN TURKEY.

but that it was extremely poor is clearly ev.-
dent from the fact that it is the very p'overo
of extreme pauperism and the type and sym
bol of the ultimate limits of poverty. No.
body has ever in modern times been Known
to be poorer than "Job's Turkey.
But the Turkey that roosts on the Bospho-
rus and broods over vast area ID EUROPE
Asia and Africa, is getting to be miseraoiy
poor and shabby. The Sultan and his Caoi-
net govern directly about IS OOO,ooo ana
his intermediate and qualified rule extends
over 100000 more, in all 42'49o IVY
souls, of whom about one-haif are NO
hammedans. By duties, excise taxes ana
impositions of sundry kinds he manages to
gather revenue amounting to nearly hun
dred millions Of dollars, while the Imperial
expenses amount to something more. For
the Mohammedan year ending in Mlrch,
1873 the expenditures amounted to 9i9, 4oo,-
$40, nearly a fifth part Of the whole revenue
being paid in interest on the government
home and foreign debt That debt in 1870
amounted to 3,103, 404, 1871 francs, or nearly
$500, 100000, of which about two-thirds Is
foreign aud the remainder home or foatlng
debt. The public debt is quadrupled since
the period Just following the Crimean war,
while the public revenues are scarcely
doubled.
The Osmanlian dynasty supports navy OF
1918 guns, Sc ships and $4,000 men, and an
army of $50 900 in garrison or the field, be-
sides 800, 600 reserves. The whole system
of government is cumbrous and costly and IN
nothing so much as in its system Of collecting
taxes Turklsh manufactures are lnconsld-
erabie and the main source Of subsistence Is
agriculture. This is carried on with rude
implements, such as were employed IN the
East in the days of Boaz, labor-saving agri-
cultural machinery being unknown through
out the Empire. Farmers are therefore very
poor, and find extreme difficulty IN getting
ready for the annual visits of the tax-gatherer,
a character as odious for his tyranny and
rapaciy as were the Publicans OF Judea
in the days of the Apostles. Among these
I,impoverished tillers of the soil it takes but
little to tax away the whole value OF the
lands, and to render them incapable OF fur
nishinp a revenue That is now precisely
what is the matter with the "sick man.; his
necessities demand expenses beyond bis in
come. and he is forced to tax his hard-work-
ing subjects beyond their capacity to pay.
Turkey has been borrowing very largely
during the past twelve years, her chief credit
ors being those British capitalists who are
tempted by the six or eight per cent annual
interest which the Turkish bonds promise to
nav. In 1854 Turkey borrowed $4,000, COO
from the moneyed men Of London, three
fourths Of tie Egyptian Tribute-money being
nledeed to nav the interest and form sink
ing fund. The next year the Sublime Porte
borrowed S2O,OOO,OOO more, the British and
French governments guaranteeing her bonds
on the pledge Of the Egyptian Tribute. which
for the safety and convenience OF bondhold-
ers, was to be RENTED by the khedive d.
rectly to the Bank of France or the Bank OF
England. Again in 1871 the Turk sold his
credit for loan of 1913, 500, 900 more, based,
as before on the Egyptian Tribute -money.
The last-named loan was at eight per cent
The first and third loans the great padisha
of the Osmanlis now deliberately repudiates.
He needs the Egyptian Tribute-money to
carry on the war with his revolving provinces.
His immense coast line must be defended
and his large army must be armed, clothed,
fed, paid and moved. He tells his London
creditors as calmly as ever swindler ad'
dressed his dupe: 81 can not meet the In
terest on my paper, and you must accommo
date me-" He has discovered that his sub.
iects can not endure any greater tax, and he
prefers to repudiate foreign debt rather
than dry Up the sources Of revenue by any
further oppression, having before his eyes the
warning of the Bosnian revolt, caused chiefly
by unjust and unbearable taxes.
The worst of it for the London money
lenders is that the great signatories OF the
Paris treaty have not the power to make the
Sultan "pony up" His answer is merely
that he has contracted debt which he car
not pay, knowing quite we'll that no war vii
I be made upon him to compel payment.
The trade of Great Britain with Turkey il
very large, amounting to exports and imports
ranging eacn IIolu MY " ono hhhuAou niii
t ions OF dollars per aunum. More than hal
? the annual tonnage CT the three chief ports 0
: Turkey is made up Of British ships, and mos
t Of the vessels trading under Turkish color
D were built in British yards. A loss OF tel
. millions Of pounds sterling on Turkish bond
will be but mere bagatelle in comparison
:, with the profits on Turkish commerce. Blu
it will serve as warning to the money lend
!, ers of London, that it will not do to par
: with money except for a full equivalent Q
! ample security. A borrowers credit an'
:. character are open to scrutiny, even thougl
he wears a crown, or keeps harem.
A WORD IN SEASON.
o The Democratic and Conservative Conven
e ton to be held in this city in January mex