20 AUGUST 1910, Page 2

The Paris correspondent of the Times says in Wednesday's paper

that the new Turkish loan in F ranee is exciting astoni-hment and misgiving. Djavid Bey arrived in Paris a few weeks ago to conclude a loan without guarantees. Guarantees, he explained, were unnecessary, as the word of regenerated Turkey was her bond.. The Ottoman Bank declined to take up a loan not guaranteed by the Public Debt. Djavid Bey then said no more to the French Govern- ment, but concluded a loan with the Credit Mobilier, which has not stipulated for guarantees or for orders to French industries. The Young Turks are pleased that their Finance Minister has been successful ; but of course an immediate success may be too expensive if Turkish credit is injured. All anomalous arrangements are likely to injure credit in the long run.