New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1909-08-30
LORD REvELsroKE AND THE PORTE.

Iord Revelstoke Sir Ernest Cassel, Lord Esher
and a number of other well known men in London
sre the founders OF the new National Bank OF Inr-
kew which. with headquarters At Constanunople' II
being wholly financed from the British metropolis
under the auspices of the British government To
cb an extent Is the latter interested in the enter
prise that Sir Henry Darlington Smith the presi-
dent ~ the institution. is officially stated 20 have
accepted the appointment as such AT The request OF
his Britannia msjesty's government" and has re-
signed his secretaryship of the General Fostoince
Department for the purpose.
Until now the two great banking concerns ~
stsmboul have been the Deutsche Bank and the
much older Imperial Ottoman Bank originally an
English institution but 81 which foreign nnanciers
long since obtained control. During the reign OF
Abdu Assiz and OF Abdul Hamid the Turkish gov
eminent was frequently in terrible straits for ready
money and on such occasions was won't 20 have
recourse 10 the Ottoman and Deutschs banks
which furnished the cash, but al terms extremely
onerous and which. moreover had the oisan-
vantage of placing the Sublime Porte at the mercy
Of the two institutions which were. in consequence
thereof able 10 obtain all sorts Of concessions as
well as 20 exercise a pressure on the Padishah
which was frequently used politically against
Crest Britain
The new National Bank OF Turkey will render
the Ottoman government independent or the
D.utsche ana Imperial Ottoman banks and Of their
POLITICAL interests and naturally more amenahie 10
the influences OF the English government More
over the backing which Great Britain Is giving 10
the new bank will encourage the influx into Turkey.
through the channels OF that institution. OF that
foreign capita which Is 50 urgently needed for the
environment OF the immense latent resources OF
the Turkish Empire
Sir Henry Darlington Smith Is no stranger al
Constantinople He is a Scotchman. hailing from
RenfreRshire Trained al EtOn and az Trinity Col
leee Cambridge where he was graduated with
high honors he Joined the government education
department ana then was chosen by the late Lord
Goschen 10 act as one OF his private secretaries
while Chancellor OF the Excheauer From that time
forth his career was assured Like Lord Miner
Sir Edgar Vincent and all those other men VINO
served Lord Goschen private secretaries. he be-
came marked man. in the best sense or the
~ord. In 1892 he OF the British delegates
a. the Brussels monetary conference.
When Lord Elgn was appointed Niceroy OF
India he appointed Smith his private secretary,
ana three years later Smith became his employers
son-in-law by marrying the earl's daughter, Lady
Elizabeth Bruce When Lord Elgin returned 10
England Smith was nominated British representa-
tive the international council OF the ottoman
public debt at STEAMBOAT. where. becoming presi-
Dent Of the board he remained three years, coming
home 20 England I'm 1903 10 become secretary and
Permanent chief Of the postoffice. lie was created
= Knight Of the Bath last year for his services as
the British representative al the International tele-
graph conference al Lisbon.