6 APRIL 1861, Page 2

These movements, which affect Austria even more than Turkey, increase

the necessity for financial reform in Constantinople. With- out it no army can be organized, and accordingly the British Am- bassador has recommended to the Porte the financial reforms always recommended from the West, the publication of a budget, retrench- ment in expenditure, and the issue of guaranteed paper money. All these reforms will probably be adopted, as usual, without effect. The Sultan is Caliph, and his power cannot be limited, and, while un- restrained, Abdul Medjid will continue to spend. The only chance for Turkey is a great Sultan, nominally a fanatic, and really an ener- getic reformer. Turkey will, we fear, find no such man in the Seraglio.