The morning news. [volume] (Savannah, Ga.) 1887-1900, 1897-05-02
WARS EFFECT ON UNCLE SAM.
May Have Trouble i'm Collecting a
Turkish Debt.
From the New York Press.


From the New York Press.
When a big war breaks out in Europe
the United States, as a great exporter of
food products, always receives a benefit.
The war now going on between Turkey and
Greece is one in which the United States
has little financial interest. We send an
nually to Greece goods 10 the amount of
about 1853 600, and take from her goods
to the value of a little more than $50 900.
To Turkey we send goods worth about 49,
600 and get back goods worth $4,000. So
our immediate financial interest is not
great. nor is there a prospect that either
of the nations will buy breadstuffs or
arms from us extensively; they haven't
got the money.
The last experience an American firm
had in selling arms to Turkey was not en-
couraging, anyway In the war with Rus
sia the Turkish army was armed with the
Peabody Martini rifle a much better arm
than the Russians had.
They were supplied by the Providence
Tool Company of Providence, r. l.. and
the company had a monkey and parrot
time to get its pay for the rifles. Unless
Mauser rifles, of which Turkey some time
ago bought 10000 stands, have been sup
piled to the troops within the past few
months, the Turkish infantry are still
using the Peabody-Martini rifle. The
Mauser rifles at last accounts were stored
in Constantinople arsenals.
There is one way in which the United
States has an interest in whatever hap
pens to Turkey, and that is in the way it
would effect her payment Of about $500, 600
which she owes us as indemnity for the
destruction of American property during
the Armenian massacres. When Admiral
Selfridge went to Smyrna recently with the
American European squadron, the practic-
l. - rEarfw. q l..
the revenues until the bill was paid was
under consideration, but IL was found that
the revenues in question had already been
mortgaged to one OF the European powers
As Turkey owes to other nations the neat
little sum OF 1888. 500, and in addition
has not yet paid Off her war indemnity to
Russia. her little debt to the United States
does not bother her much. Stiu the more
she fights the less likelihood we have OF
being able to collect il. The indirect finan-
cial interest which this country has in the
Graeco-Turkish war is great because OF
the danger OF the great powers being
drawn into the affair.
Already the fluctuations Of the grain and
stock markets ia the United States occa-
stoned by the outbreak of the war have
caused million % dollars TO- change hands
The stock market throughout the world
with its center in London, is sympathetic
A sharp decline In Turkish and Grecian
sympathetic decline in other securities.
American among them.
The effect would only be temporary,
however. A European war in which the
great powers were engaged would have
the effect OF depreciaung European secur-
tiles and would ultimately be Of benent
IN increasing the value OF American &C.
curties. for investors would buy here, in
stead OF in Europe, In the first place. and
In the second place the Immense volume
Of business which a great European war
would throw into this country would In.
crease the value OF stock In American
business enterprises. Grain. OF course
would be the FIRST thing TO feel the effects
Of such a war. II Europe fights we viii
have 20 feed her, and charge her a good
price for so doing.
Not only grain. but meat, will be IN
great demand from the United states in
case of "a big European war. In the Crl-
mean war the United States did, for those
days, a big business In supplying the al
lied powers with food. Everybody re-
members the celebrated cargo Of bass.
wood hams which was sent out from Con.
nccticut to the forces before Sebastopo,.
The demand for small arms and ammu-
milton for small arms would also prob.
| ably De great and these munitions OF war
would undoubtedly nnd their way In the
| contending nations In spite OF interna-
tional laws regarding central band OF war.