Of all political arrangements, the one under which a strong
Power agrees to pay tribute to a weak one usually works the worst. It seems that Great Britain does not pay a penny of the £93,000 a year agreed on as a tribute for Cyprus. The obligation is fully acknowledged, and the money regarded as a Turkish asset ; but, said Mr. Goschen, Turkey owes it us all. England and France guaranteed a Turkish loan costing £200,000 a year. The Egyptian tribute meets £120,000 of that, but the other £80,000 is hard to get. So, having this asset in our hands, we pay the £80,000 out of the Cyprus tribute, and retain the balance as part of the Sinking Fund for the guaranteed loan. This has been the practice since 1878, and, on merchants' prin- ciples, is obviously fair ; but we have not a doubt the Sultan thinks himself cheated. The money, in his view, is his, not those rascally fundholders'. The Cypriotes, too, may think that to be governed by England, and to be taxed to relieve England from a guarantee given in furtherance of English policy, is rather a hardship. They would, as Mr. Goschen explains, have to pay Abdul Hamid if they did not pay his creditors ; but then, they would not have to relieve taxpayers in England, which they do now. It is all quite right ; but it is a little like paying a whist debt not to the winner, but to a creditor of the winner who owes you money.
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