Year: 1867

follies It win have to give place to something
moro practical and ornamental.


Tsrkev II Esrepe-Ths --latest Phase Of the


Eastsrn Question.


In our Paris letter. published yesterday, We
gave the programme Of movement for the
further disintegration Of the Ottoman empire,
originating in the lands between the Danube
and the Balkan, where the Moslem power can
least bear to be put 10 any new test The pro-
gramme is simply project for the revival Of
the kingdom Of Bulgaria. extinct since the
fourteenth century-an ancient Christian
Power, overwhelmed and borne down by the
original Eruption of the Turks into Europe. 1t
thus proposes to read backward the melan-
choly chapter of modern history that made
great Christian population the slaves Of bar
barous race, and to commence the reconstruc-
tion of that part of Christendom at the point
where the sword of the fanatic stopped all
progress. The particulars of the programme
merely indicate points in the constitution of the
projected realm but these points are slgnif-
cant Of the nature Of their origin. They show
that the project has grown up in the wide
spread influence upon the people of great
recent example-the success Of Hungary in
demanding from her tyrannical ruler a separate
national organization and government Hun
gary is made the model for the establishment
of the new Power. Just as Francis Joseph
must be crowned King Of Hungary, so the
Sultan must be crowned King Of Bulgaria
l,n hn AZ ~nI ko
must rule also through minister and a
national Bulgarian Parliament. We are told
that the Servians, Montenegrins and Greeks
are leagued with the Bulgarians for the sup
port Of their demand, and that its denial will
inevitably be followed by violent measures.
lis acceptance would itself be great revolu-
tion; and thus, in either event, we appear to
be on the eve Of remarkable change in the
political and social condition OF one Of the
most interesting portions Of Europe-the
border land Of centuries of struggle between
opposing creeds and races.


Whether tue establishment Of new king
dom, including a portion, perhaps all Of
European Turkey. and sure to be soon inds-
pendent of the Padishah, is to be the accepted
solution Of one Of tho most troublesome oi
political problems, time only can tell; but
the case Is one that presses for settlement, and
settlement must soon be found. Moreover,
according as that settlement is good or bad, 30
will Eastern Europe be disturbed or at rest
for century to come. The wonderful strength
and the great necessity Of Russia will bear
down the scale against the ideas of the West
ern Powers. Russia is ambitious Of maritime
development and naval greatness. Peter
stamped that tradition ineradicably upon her
policy when he became ship carpenter
Frozen up through half the year in her north.
ern extremity she requires southern outlet
through the Euxine, and will have it That
is part Of the inevitable future, and Russian
preponderance in the Mediterranean will be
the result France and England stopped this
once by force of arms. They cannot do il
again. Let France move now and she will
find that united Germany Of ffty millions OF
people is her next-tloor neighbor and is in
close alliance on this very point with Russia
Let England move, and India Il gone. Rus
sian military posts are established within
striking distance along the whole Indian from
tier, and any undue expression Of British SYM
pathy with Russia's foe will deprive England
Of the vast wealth of her Asiatic empire. She
has given hostages to fortune and must
look on with folded arms. In view or all this
what part should the Western Powers take in
this present movement They should encou
rage by every means the setting up Of this
new kingdom. The continued domiuation of
the Sultan in Europe furnishes the prelext that
Russia wants. So long az her movement can
take the shape of Intervention for the proteo-
ton Of oppressed Christians 1t will commend
itself to the prejudices Of Europe and all viii
be easy but Christian kingdom, ruling all
the lands from Hungary to Greece, will be a
bulwark against her, and her first great
difficulty


The War Panic.


Public securities here, as we'll as abroad,
hnva hcau unreason ahlv affcctcd nv tha roanIf