New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1893-06-04
TIE SITUATION IN GREECE.

While the srhoolboy is reading the story OF
Marathon or scanning his Homer the recent
downfall of the Trcoupis Ministry has called
Trash attention To the Greece that now Is. Inc
clements entering into this political crisis are
dc.crbcd in detail by our correspondent AT
Athens. They are seen to be domestic rather
than folccn and financial rather than po-
Gticol. Greece is not the only Power that has
had 10 face the difficult question OF now 10
make both ends meet Unfortunately, she has
bcon induced to depend too much upon the
,llurinc cypcdicnt of foreign loans. This Is a
kind Of life prcscrvcr which eventually loses
if, bnoyancy and may turn into milestone
Accommodations Of interest change ITS spcclhc
gravity. until by-and-by, like the pc'r'hed
wood on our American plains 1t VIII nc'hcr
| burn nor float Greece hls further committ@h
thc mistake Of forcing the currency. IL mas
.iyty or seventy millions moe OF paper money
in circulation than it can well stand. ConSc-
ouon,lv il i unable to maintain the drachma
n mar. and a depreciation Of 80 per cent has
followed. II suffers, too, from the spccula'ioh'
Of the market in obtaining gold for foreign
remit aces. Add 4 - this. it has not yet re
covered from the effects Of lax and waSteiu
| administration.
The Tricoups Government wisely turned It's
| attention toward more economical adfhifi's'ih
| ton and 10 increasing the revenue by various
duiic, and taxes but it placed great reliance
upon the moro doubtful relief of new for
cicn loan Of GO,0OO,O0O francs which would
add a charge Of 100000 francs for IN
| forest and service Ia the annual expenses. ~
! illustrates the confidence of foreign bankers III
tho resource, and good faith Of Greece that
this additional loan was capable OF ncgotia-
,ion That it has fallen through at present,
and with it the Trcoups Ministry. is owing 10
the fidelity Of the King to constitutional prin-
cplcs in insisting upon the ratification OF the
convention by the Greek Parliament.
The Greek people are among the most patrl-
o.ic ncoplc of the world. Their benevolent
and even their penal institutions are largely
built up through gifts of wealthy and devoted
.ons at home and abroad II is not likely
therefore, that the country will be suffered "a
20 into bank riptcy for the want OF II. o0o'ooV
francs TO pay in June the scml-annual interest
on the national debt. 4 close study OF the
resources and possibilities OF Greece shows a
capacity for rccupcraion and development
which under wise administration ought to place
il beyond the need of fresh indictments in
the shape of foreign loans. II parts OF Attica
are barren for agriculture, they still are avail
able for their mineral resources. while Thcs'aly
is one Of the finest agricultural regions in tho
world. and Zantc and Corfu arc renowned foi
their fertility. Within the last ten years rail
roads have begun to spread over the country
bringing increase Of travel and trade. New
public roads have been laid out and the tele
graph runs to all large towns and cities. Com
pared to our own country, Greece is very small
but its territory would support a much largel
population than now sub>ists upon it, Private
enterprise is constantly developing new form
of commercial activity and one of its grea
undertakings the Corinih Canal, is nearl,
completed.
Greece has q great history behind It but i
also has a future, and the frucality, temper
ancc. intelligence and growing enterprise of it.
people are an encouraging assurance that i
will preserve the recovered heritage Of countr,
and nationality under its own flag as ii ha
preserved for centuries the vitality of its Ian
puasc and the national instinct for democratic
life and institutions.