New-York tribune., 1885-02-22
THE NEU EUROPE.

Furonean history is no longer record OF
dynastic coalitions. The most powerful force
ON the Continent is Prince bismarck VIII
uneratiny bv means Of diplomatic and hnanciai
combinations. At present he is eXertlng his III
Nuence for pacific ends, but his personal
authority is as great as NapoleOns was at the
beOinning of the century. The aggregate
mower of the three military Empires and
France. is massed in his hands. BY the COM
mon action of those four States England is sub
iccted to pressure in every quarter oi the woIid'
:. Foreign Nations" remarked Mr.. Goschcn in
one of his recent brilliant speeches, "are closing
. in upon many points where we never dreamed
u of contact with great Powers before. This
L" Europe has suddenly been seized with a
colonizinp mania, and France and Germany
q and other Powers seem to feel that they must
"push their colonial policy ana they push IL
- more or less together" He comedies that th'
Powers are not animated by hostility toward
England nor by aggressive and warlike IDEAS
but simply wish to utilize the aggregate power
which they possess when acting IN combination.
This is n lust estimate of the European situa-
ton.
There is however, another series Of comblna-
tions. to which Mr.. Goschen does not refer, al
though he understands them better than per
hans anv other Englishman. The bOndholders
have. an important place in the Europe of to-
d.v They work together az well az the Minis
tries and their aggregate power is very great.
NJ. de Blowitz recently described the financlcrs
as constituting the feuda ism of the Nineteenth
Century, protecting one another with sort OF
freemasonry and debating laws, determining
the fate of Nations and rendering the shrewdest
political combinations abortive These are the
onev-lenders, who have offered loans to semi
civilized States on ruinous terms then induced
small investors to take the securities at ad-
vanced rates, and finally bought them back in
time of panic at ten in place of a hundred.
| They are rich and powerful and statesmen
| cannot afford to despise them. The European
Ministry that defers to their Judgment has a
formidable force enlisted on its side. France
occunied and CONQUERED Tunis after it had
been drained dry by the moncy-lcnders There
was An international commission in the Bey's
Capital a. there was in the Khedive's, but it has
not given rise to diplomatic complications.
France accepted the Tunisian debt and thereby
made the bondhOlders its allies throughout
Europe; and the conquered country to-day is
virtually administered as province of the Re-
nubic England, after proclaiming through its
Ministers that the campaign OF 1882 was not a
+ bondhoders' war, undertook to govern Egypt
without reference to the hnancicrs. In cOnse-
ouence of this policy the power of this combina-
ton of capitalists is arrayed against England in
every European capital.
| The singular contrast afforded by the dealings
of these two Governments with the bondholders
indicates that seventh great Power has been
added to the circle of European alliances. The
Tunisian bondholders, being assured that their
interest would be regularly paid, aided the
French Ministry in overcoming the resistance OF
Italy and in disposing of the International
Commission. The Egyptian bondholders, being
threatened by England with reduction of i'll
terest and seeing no chance Of having the pay