French schools, owing to their very tolerant spirit, were very popular among nearly all classes of the Turkish population, and the sympathies we had thus acquired and the intellectual prestige we enjoyed were still more important than our material interests. Nearly 25,000 children attended the French elementary schools, most of them religious schools, which bears witness both to the confidence the Mahommedans had in us, and the tolerance they showed. The Grammar School of Galata-Serai, established in 1868 by Sultan Abdul Aziz with the co-operation of Duruy, French Minister of Public Education, and several other secondary schools which are now closed, diffused French culture and maintained sympathy between the two peoples. The Jesuits’ school of medicine at Beyrut also spread our influence. The material interests of France in Turkey were also of great importance; and it was, therefore, a great mistake for France to follow a policy that was bound to ruin the paramount influence she had acquired. The other Western States had as important interests as France; and it was necessary to take all these facts into account if an equitable settlement of the Turkish question was to be reached. France, England, and Germany were, before the war, the three Powers that owned the most important financial concerns in Turkey, France easily holding the premier position, owing to the amount of French capital invested in Turkish securities, Government stocks, and private companies. From 1854 to 1875 thirteen loans—almost one every year—were issued by the Ottoman Government, ten being entrusted to the care of French banks or financial establishments controlled by French capital. These thirteen loans have only an historical interest now, except the three loans issued in 1854, 1855, and 1871, secured on the Egyptian tribute, which still exist with some modifications, but may be looked upon as Egyptian or rather English securities, and were not included in the settlement effected in 1881 which converted them into new bonds, and the 1870-71 loan, styled “Lots Turcs,” the whole of which at the time was subscribed by Baron Hirsch in return for the concession of railways in Europe. To them let us add another financial operation effected about 1865, consisting in the unification of the various bonds of the interior debt and their conversion into bonds representing a foreign debt. Most of these operations were controlled by the Imperial Ottoman Bank, founded by the most influential English and French financial groups, to which the Ottoman Government by its firmans of 1863 and 1875 granted the privilege of being the State bank. It thus has the exclusive right of issuing banknotes, and has the privilege of being the general paymaster of the Empire and the financial agent of the Government, both at home and abroad.