Bullets of Gold or Silver

Sun (Auckland), Volume IV, Issue 966, 8 May 1930, Page 8

Bullets of Gold or Silver

MEDITERRANEAN DIPLOMACY Nations’ Interest in Turkish Bank (Written for THE SUN by LADY DRUMMOXD HAY.) THE Eastern Mediterranean region is once more becoming the arena for the almost silent but very intensive struggle of rival international political, economic and diplomatic forces for domination in that corner where Africa, Asia and Europe meet. Turkish nationalism, Russian communism, French finance and statecraft, Italian diplomacy pushing Italian aspirations, American enterprise scenting new fields—all are figuratively crossing swords behind the scenes in the Near East-

Turkey is again the battlefield for East and West. This time the bullets are of gold or silver, when they are not of paper. Once more the Turk is to expel the “Christian invader.” The State Bank of Turkey, so to speak, is the Ottoman Bank. It is French, dominated by the French, run by them. It has branches throughout the Near East, in Syria and elsewhere. It is the most important avenue of financial, economic and political influence of France in the countries of the Eastern Mediterranean. Its Charter of concession in Turkey expires within five years. The French asked for an extension of 30 years, then of 20, finally 10. The Ghazi Kemal Pasha Government refused. Not even one year more will it grant as it wants to end the reign of the French banks with its extraordinary present powers and functions The French accepted the challenge. There followed immediately a financial crisis in Turkey, fall of Turkish exchange and securities, talk of an ultimatum. Russia came to the aid of Turkey with a credit of nearly £350,000, and Mussolini from the other side with a credit through the Banca Commerciale Italinna of £1,000,000. That was quickly increased to £5,000,000. Kemal Pasha had strigent regulations enacted, rigidlv controlling import and export of foreign exchange. Other measures are likely to follow. The battle between the Ottoman Bank, with all the diplomatic and

financial power of France behind it, and Turkey, personified in Ghazi Kemal Pasha, is on. It looks like a five-year conflict. Mussolini’s deft hand is clearly discernable. Russia, so far as her extremely limited resources permit, is encouraging Angora. Thus Communism and Fascism are, in this struggle, linking up with Turkish Nationalism. The whole is an intensification of the clash of French interests with Italian aspirations. The Turks complain that British interests are supporting the French.

A new factor may be the Americans, whom the Turks are seeking to interest in establishing a big bank in Constantinople, now Istambul. American capital is considered as being “non-political,” therefore it is preferred to all other. Henry Ford has been invited to visit Turkey, to look over the field. France has lost much prestige in Angora. Germany plays a minor role, where once she was powerful. The Turks engaged a number of German ex-officers as military advisors, but they are acting wholly in a private capacity. There is also a private German shipbuilding mission in the Navy Yard. The Paris v. Rome-Angora-Moscow duel in Turkey has many ramifications around the Eastern Mediterranean. When it was reported that Prince Nicholas of Roumania might marry Princess Giovanna of Italy, a Paris report countered with the news that the ex-Crown Prince Carol was ready to give up the titian-haired Luprescu, and marry a French Princess of the Napoleonic aristocracy. Thus diplomacy seeks to press Cupid into State service.