A scheme of financial reform has also been projected, and the foreign Embassies have been invited to nominate a certain number of persons as inspectors to superintend the collection of the revenue; but this is nothing new. The Imperial Ottoman Bank has nominally held this position for many years, and at times has exercised some control, no doubt with advantage to the Government. A new system of taxation, carried out under the control of honest and responsible Europeans, would increase the revenue of the Government without adding to the burdens of the people; but the place where reform is most needed is in the expenditure rather than the collection of the revenue. The present scheme does not command confidence in Constantinople in regard to the collection of the taxes, and it offers no security for the control of the expenses of the Government. The truth is that the whole financial system is hopelessly corrupt, and, however it may be patched or mended, it will be rotten still. There is no hope for the Turkish Government until it is ready to put its finances into the hands of competent Europeans who shall have absolute control over everything connected with expenditure as well as collection; and I am sorry to say that there seems to be no present prospect of any such arrangement. The enormous expenditure of the Palace is unlimited and uncontrolled, and the Sultan will not submit to any control. Financial reform must begin there, or it will amount to nothing. The present Sultan before he came to the throne was known to be a very careful and economical man, and no doubt he would be glad to be so now, but he has not the courage to break with the traditions of the past--give up his thousands of slaves, women, and palace officials, and live like a European sovereign rather than an Oriental despot. So long as he maintains the present system he must have money, no matter who starves for want of it; and he must continue to take money, on his personal order, from whatever department of the Government may be so happy as to have any in its treasury.