Public ledger. [volume] (Memphis, Tenn.) 1865-1893, 1877-04-13
IMpENpING war IN EUROPE.

Weskg-POstage free.
IMPENDING WAR IN EUROPE.
The prospect of a war between
Russia and Turkey seems to amount
almost to a certainty. The Turk
ish circular delivered to the Russian
government yesterday ca%tegorically
refused all the demands of the
powers and puts an end to diplo-
macy as well as discussion. Russia
must now fight or back down. The
Porte is firm and crafty and has
managed the cause Of the Turks TO
the best advantage. The Russian
government had two reasons for
prolonging negotiations first, to
appear DESTROYS for peace and to
commit the other powers, as far as
possible, to demands upon Turkey
for reform and the oausus belli
and secondly, to gain time, mobilize
the army, collect stores and prepare
for a grand move at the suspicious
moment to strike. That moment
seems to have arrived. Unsupported
that the Russian troops are making
a forward movement on the Rou-
manian frontier. The impression
had been sedulously inculcated hat
Russia was over-anxious for peace,
u%nprepared for war, and ready
to back down. We will see.
Further negotiation is out of the
question. The arts of diplomacy
have been exhausted. We believe,
and have half suspected all along,
that Russia is Splendidly prepared
and anxious for an opportunity to
strike. A forward movement is to
be made, and the Crimea, if posi-
BILE, avenged. 1t is not 50 much a
desire to protect Christians as to
punish the Turks and possess the
Bosphorus. This is the great ques-
ton which has involved and agitated
all Europe for over a quarter Of a
century, and this is as good a time
to settle it as any. The autonomy
Of the Turkish empire would have
been destroyed long ago but for the
interference and support Of the
allied powers of Europe. The ques-
ton now is, will any Of these pow
ers take up arms for Turkey? En-
gland is the only one likely to offer
armed intervention. She is jealous
of the growing power of Russia in
the direction Of her Eastern possess
sions, and besides this Turkey owes
England an immense debt. Turk
ish finances are at a very low ebb.
The insolvency Of Turkey has been
greatly increased and aggravated
within the last six months by the
issuance Of paper money to the
amount Of about $50, 900. This
has greatly embarrassed the trade
aud commerce Of the country.
Outside of Turkey this money is
not received, and even in Constan-
tinople 100 piastres (about $4.50) in
good money will buy 165 piastres in
netes. The new money corresponds
somewhat to the Confederate money
of 1862. The Porte will labor under
a serious financial embarrassment
from the start, and be without
credit in the markets Of the world
The only recourse will be forced
loans at home, and even this can.
not be depended upon for a long
war. That the Turks viii fgh.
fercely and be commanded by edu
Gated, skillGul generals there is y.
doubt, but the discipline, prestige
and improved modes of warfar
will all be on the side of the Rus
slams, and the breaking up of tn
Ottoman empire seems almost in
evitable, if the other powers do nc
take part. This is the situation a
it appears to-day. The effect j
Europe generally no one can fore
see; in this country it will be fel
in an increased demand for bread
stuffs, improved firearms and arm
equipments. In a pecuniary sens
it will not be to our disadvantag
GRAB THAT SLIPPED.
The people and press Of Phil
delphia are greatly incensed at IL