Richland beacon., 1877-08-04
TURKEYS BlNKHCPTCY.

and consul general at ConstantinOple, in
a recent communication to the DEPART
ment of state, at Washington, writes a.
follows:
The disturbed financial condition of
the country has weighed very heavily
upon its prosperity during the last few
years. Aside from the depressed state
of the Turkish finances and the stagna-
ton Of trade, which were rapidly pro-
ducing a cri.is, a series of financial meas
ures has nearly completed the CONNER
cial ruin OF the country. The insurrec-
ton of Bosnia and Herzegovina and war
with Servia also had their effect upon
trade. Prices rose even for the ordinary
necessities OF life, besides which, on
account of the hard times, the consump-
ton of even the most necessary articles
was greatly reduced. Last of ALL al
though since the period to which this
report refers July l, 1875, to June 80,
1850 are the issues of paper money
which have still further disturbed the
market.
OBSTACLES TO PROSPERITY.
The great obstacles to the commercial
prosperity Of Turkey come from the gov
eminent itself, especially from the high
taxes, the arbitrary manre: in which
they are collected, and, more than all,
the difficulty of obtaining justice in the
courts. The resources of the country
are great, but it is impossible to utilize
them. The Turks themselves have no
capital to employ in the development of
agriculture, mines, or manufactures, and
grs at obstacles are offered to the intro
duction of foreign capital and onercus
restrictions placed upon its use. For
these reasons the promises of measures
for the development of the resources OF
Turkey, which are 50 frequently re-
peated, are idle words. In spite of the
law which promised the remodeling OF
the financial system, and that the i'm
rerial Ottoman bank should be the payer
general and the receiver general, and in
fact the sole financial agent of the Turk
ish government, the practice has not
been in accordance with the promises.
TURKEYS INDEBTEDNESS.
The public debt OF Turkey now amounts,
az near as can be asertained, to about
1927 ,9OO, 900, the annual interest and
other expenses on which reach So, $780,
900, or more than half the total revenue
of the empire. 1t is very difficult to
estimate what il the amount of the
actual revenue and actual expenses of
Turkey. No reliance can be placed
upon the budgets publ he'd. In fact,
although everybody knew that the gov
ernm:nt was running largely into debt
every year, the budgets for the same
time nearly balance. By the last budget
published, that for the year ending
March IL, 1876, the expenses OF the gov
eminent are placed at $l24, 1895, lOS, while
the receipts are estimated s1O2. COG, 742,
leaving deficit of over S21, 900, 900. In
this amount the custom dues were set
down, as indeed they were the proceeding
year, at 90, 922 800; but as I have before
stated, this amount is fictitious, as the Gus
tom. house refuses to state its actual re-
ceipts and the commission, which was ap-
pointed to verify the budgets, declined
to enter into the details of receipts and
expenses, but accepted the amounts
given to them by the different admins
tratiOns.
THE REVENUE.
From other data, although they are
also official, we find that the revenue OF
the three vilayets of the Danube, Adria-
nople, and Salonica amounts to a little
over So, 100000 yearly, while the ex.
penses Of the administration of these
vilayets are only about $780, 900. leav-
ing a clear surplus to the government
from these provinces Of $l9,5OO,OOO.
The whole of the vilayet of the Danube
and all of the most productive parts of
the two other vilayets are included
within the limits of Bulgaria as defined
by the conference of Constantinople,
which proposed to give to the Turkish
government only thirty per centum of
the present revenues of these provinces,
, the rest to be spent on the local admins
tration. This would give the govern.
ment, instead of s19, 800, 900, not more
than 81 900, 900, clear loss of over sl2..
100000. Under the present methods
by which the revenue is obtained it doe
not seem possible to increase the take
with any chance of further productive