The Toledo chronicle. [volume] (Toledo, Tama County, Iowa) 1873-1924, 1877-10-11
Money-Lending in Turkey.

Money-Lending in Turkey.
Money-changing and money-lending
are the most profitable occupations here
next to being Grand Vizier or Provis-
ional Governor. The chances Of plum
der and extortion in the latter are un-
limited and unegualed, and rare is the
case in which the retiring functionary,
poor though he may have been in the
first place, does not retire with over
flowing Golfers. There is no fixed in
terest for money. The Koran de-
nounces usury, but no one hesitates to
run counter to its precepts when money
is needed. The Turks do not amass
money. They live frugally, care little
for the luxuries of life, and are salts
fled if they make both ends meet.
Those who are rich have made their
money in Office, under the favoritism
of the Sultan or patrons in power.
While their easily-acquired fortune lasts
they lead q merry life, with a we'll
selected harem, an elegant YAH on the
Bosphorus, and q spacious K0ndk in
town. Their outlays in the way ,yf
presents to the dignitaries of State, TO
the servitors of their patrons, and in
political intrigues, and dowries on their
sons and daughters to marry them
well, soon run them in debt Recourse
must then be had to some Armenian
Sdraf or money-broker. Notes of
hand, indorsed or not, don't serve. The
only sufficient security is a collateral in
the shape of jewels, precious stones,
plate, gold snuff-boxes incrusted with
diamonds that have been received in
gift from the Sultan, or some other OBJ
jects of tangible value. Before the ne
gotiation is concluded the quality of
every object must be tested, the intrin-
sic and average selling value ascer-
tained, and then the money is lent on
such terms that there is a large chance
of profit and none of loss The discount
may be 80 per cent. or so even, and
when the loan is for term of years
the interest is rarely less than 25 per
cent. Deeper and deeper the borrower
gets in debt loan follows on loan,
with new collaterals pledged, until
there is nothing left to give as security.
Then the creditor realizes. He puts the
precious articles on sale in the jewelry
department of the great Bazaar at Stam-
boul, or he sells them to a merchant
there, and perhaps he gets one of the
ambulatory auctioneers that frequent
the Bezestan to cry them off to the
highest bidder. as he urges his way
through the crowded avenues of that
mart of trade. In any event, he is sure
to come out with handsome gain,
such one as would have delighted
Shylock himself Never was the Bazaar
richer than it is now in rare, curious
and valuable jewelry, gold ornaments,
swords of honor, diamonds, necklaces,
and the spoils of bankrupt harems and
palaces. / have dabbled little in I'm
set diamonds, and they are sold quite
cheaply, and in carpets, but my pocket
is too shallow for a speculation in
the magnificent ornaments that once
adorned Circassian beauties of the, I'M
perial harems. Abdul Aziz's wid-
ows and favorites have thrown a
large amount of their treasures on the
market, and the late Mustapha FAIL
Pasha contributed not little to the en-
riching of the jewel Bazaar. / plead
guilty to one weakness, and that
is to the Oriental carpet. The
Turkey carpet, as it is made in
the hand-looms of Ouchak, is a fabric
that in durability, wearing qualities,
and softness of texture cannot be sur
passed 1t is made in square pieces of
various dimensions, but generally of u
size to cover an ordinary room, The
colors are so stable that it is said a bar
rel of vinegar upset on it win not
change color. For wear, time seems
to make no impression on it. Beneath
my feet is a Turkey carpet which is at
least thirty years old, and it is. at this
writing as fresh as the. day the last
thread was wove into it at Ouchak.
There seems to be no fixed patterns,
for have never seen any two alike.
The weaver's fancy determines the fig
ures and arrangement of colors, and
that is as fantastic as an Oriental
imagination always is. The carpets
are so heavy that they rest on the floor
with their own weight, and need no
tacks to fasten them down. As
they are not secured to the floor,
they are frequently taken up and
busted, and are always thus kept clean.
When the staircases, as well as the
rooms, are laid in these solid feecy
carpets, the house is as still as if
it were uninhabited, so far, as the
movements of its occupants are con-
cerned. 1t is curious fact that while
everything else has declined in price,
Turkey carpets hold their own in the
East, one a quarter of century old
selling near on to its original cost
Co,astdntinople Cor. Philadelphia Press.