, 1876-01-26

vigour, and perhaps his force were too weak to
restore order. The Insurgents themselves
and their r~esolute leaders were encouraged by
the sympathy of their neighbours on all sides,
and by hopes of foreign Intervention in their
favour; but after a few weeks it seemed pro-
babIe that the revolt would end, like many
previous enterprises of the kind, in the re-es
adjustment ofTurkish authority. Montenegro
was restrained from open Interference by the
commands of Russia, and Prince MILAN Of Ser
via publicly and successfully appealed to the
Skuptchina against a Ministry which had at.
tempted to involve the country in a dangerous
quarrel. The Slavonio sympathies of Dalma-
tia and Austrian Servia were not shared at
Vienna or at Pesth, and rumours of an Austri-
an occupation of the disturbed districts proved
to be without foundation. Russia has from
the first consistently declined to support the
cause of the Insurgents, and the Russian Am.
bassador at Constantlnople has recommended
to the PORTE extensive concessions to the
Christians, which have since been officially
announced. The Insurgents and their advo-
Gates contend that the new regulations will,
like many previous reforms, be found ~inopera-
tive but Russia still processes confidence in
the PORTE. Austria has been engaged in
i~noessant negotiations with Russia, with a
view to the adoption of a common policy.
Germany, which has but a remote interest in
the matter, has repeatedly announced a resi-
luton, by following the lead of Russia and
Austria, to maintain unbrOken the alliance of
the three Imperial Courts. Within less than
three months from th9 outbreak of thu insur-
%reotion, the PORTE found itself compelled to
publish q disastrous confession of weakness.
The supply of borrowed money, which had
been constantly applied to payment of interest
on DraUiOuq lDapu bNl of LAT F,;l,J o~1 H.
creditors of the PORTE were informed that
half the interest and sinking fund would be
COMMITTED for five years into new obligations,
bearing interest at five per cent, The imme-
date sacrifice was less painful than the reason
able doubt which was felt as to the security
OF the remainder. 1t is now understood that
the Turkish Government has provided for the
payment of the reduced dividend for the cur
rent halfyear but little conf ience Is felt in
Its future sOlvency. Though the collapse had
long been toreseen by competent observers as
inevitable, 1t nevertheless at the moment took
capitalists and politicians by surprise. No
other occurrence has done so much to create a
belief in the early disruption of the Turkish
Empire, and one immediate result has been the
revival of the hopes and activity of the InSur-
gents in Herzegovina. 1t would be useless to
examine the apOcryphal rumours of battles and
victories which are freely circulated both by
the Insurgent leaders and by the Turkish off.
oials. The essential fact is that after five or
six months the revolt is still unsubdued, and
that the progress of the struggle involves the
Turks in constantly new ADVERTISEMENTS
Moderation to the Christians is generally fol-
lowed by disaffection among the Mahomedans,
and in some places the Government troops
have come into collision with Mussulman In
surgents. The warlike inhabitants of Monte
regrO trouble themselves less and less to dis
guise their participation in the struggle. The
peace of Europe would be in serious danger if
all the Great Powers were not for the time
sincerely DESTROYS to avert a crisis of which
1t would be impossible to fOresee the issue.
While rumours of Russian projects and of
farther Instructions in Turkey were producing
general disquietude, Englishmen heard with
pleased surprise that their Government had
oonolude ed the purchase, for ee4,0O0,O00, of
about nine-twentieths Of the shares in the
Suez Canal. The KHEDIvE, who was the
owner Of the shares, had attempted to sell
them to a French Financial Company, aud,
on the failure of his negotiation, his offer to
transfer them to the English Government was
Immediately accepted. During a period of
nineteen years, for which the dividends have
been alienated from the shares, the KHEDIvE
is, according to the agreement, to pay FIVE
per cent. on the purchase money. At the end
of that time it is possible that the shares may
have risen in value, but a large outlay of
capital will be required for the maintenance
and improvement of the Canal. Although