Again, the Deutsche Orientbank has made many extensions, and is already financing cotton and wool trade for after the war. The establishment of this provoked much applause in German financial circles, who find it to be an instance of the "far-reaching and powerful Germano-Austrian unity, which replaces the disunion of Turkish finance." This is profoundly true, especially if we omit the word "Austrian," inserted for diplomatic reasons. Again we find Germany advancing £3,000,000 of German paper to the Turkish Government in January, 1917 for the payment of supplies they have received from Krupp's works and (vaguely) for interest to the German financial minister. This too, we may conjecture, is to be redeemed after the war in gold. In March of this year we find in the report of the Ottoman Bank a German loan of £1,000,000 for the purchase of agricultural implements by Turkey, and this is guaranteed by house-taxes. In all up to that month, as was announced in the Chamber of Deputies at Constantinople, Germany had advanced to Turkey the sum of £142,000,000, entirely, it would seem, in German paper, to be repaid at various dates in gold. The grip, in fact, is a strangle-hold, all for Turkey's good, as no doubt will prove the "New Conventions" announced by Zimmermann in May, 1917, to take the place of the abolished Capitulations, "which left Turkey at the mercy of predatory Powers who looked for the disruption of the Ottoman Empire." Herr Zimmermann does not look for that: he looks for its absorption. And sees it.