The dispute between Turkey and France as to the con-
ditions on which a Turkish loan will be admitted to quotation on the French Bourse continues to be very interesting. It is evident that the Turkish Government desires to shake itself free from the control of the Ottoman Bank, which it regards as an indignity, and it is not less evident that the French Government looks upon the mediation of the Ottoman Bank as the best guarantee that French money will not be improperly employed. The Turkish Government has shown the tendency of its thoughts by announcing that all com- munications from the Bank to the Porte must in future be made in Turkish instead of in French. The Gaulois says that in its contract for a loan with the Credit Mobilier the Turkish Government recently consented to mortgage the Customs dues at Constantinople. If this be true, it is hardly to be supposed that the French Government will agree to a loan unless equally good security is given.
