THE TURKISH CRISIS.

Star (Christchurch), Issue 5761, 4 January 1897, Page 1

THE TURKISH CRISIS.

THE FINANCIAL . POSITION. [Per Press Association.] LONDON, Jan.: 2. A statement liaa been published giving the views of Sir Edgar Vincent, formerly Director of Turkish Indirect ilevenues, oiv the present state of Turltisk finances. Sir Mdgar alleges that since 1890 the Turkish Budgets have disclosed an ; annual deficit of a million Turkish pounds or about nine hundred thousand pounds sterling. jThis state of affairs is largely due to the palace expenditure. He recommends a reduction in the military vote, which now reaches C 7 per cent of the total ! expenditure, a proportion unequalled in any other country, the prevention of contraband trade and regular 1 payments of officials. Sir Edgar also favours increased direct taxation and stringent management of the tobacco monopoly. He comiders , thnt in honest hands the prospects of the Turkish revenue are equal to those ,of Egypt. ' ST PETERSBURG, Jan. 1. The Czar has authorised the-collec-tion of subscriptions throughout his Empire on behalf of the Armenian emigrants.

Jan. 2. Se ports are current here that the Government is willing to arrange witli the Powers the measured necessary to protect Turkey's European creditors, thus barring the Sultan in his efforts to raise money.