out also the whole funds of the Committee of Union and Progress, and similarly transferred them.  This operation was not effected without loss, for in return for the Turkish L1 they received only thirteen francs.  But it is significant that they preferred to lose over fifty per cent. of their capital, and have the moiety secure in Switzerland to leaving it in Constantinople.[1] It is certain therefore that at both ends of the scale a distrust of German management has begun.  A starving population has wrecked trains loaded with food-stuffs going to Germany, and at the other end the men with the swords of honour and dishonour deem it wise to put their money out of reach of the great Prussian cat.  That the Germans themselves are not quite at their ease concerning the security of their hold may also be conjectured, for they are, as far as possible, removing Turkish troops from Constantinople, and replacing them with their own regiments.  An instance of this occurred in June 1917, when, owing to the discontent in the capital, it was found necessary to guard bridges, residences of Ministers, and Government offices.  But instead of recalling Turkish troops from Galicia to do this, they kept them there in the manner of hostages, mixed up in German regiments, and sent picked bodies of German troops to Constantinople.  Fresh corps of secret police have also been formed to suppress popular manifestations.  They are allowed to ‘remove’ suspects by any means they choose, quite in the old style of bag and Bosporus, but the organisation of them is German.  And well may the German Government distrust those signs of popular discontent in a starving population:  already the people have awoke to the fact that the German paper money does not represent its face-value, and, despite assurances to the contrary, it is at a discount scarcely credible.  Three German L1 notes are held even in Constantinople to be the equivalent of a gold L1, while in the provinces upwards of five are asked for, and given, in exchange for one gold pound.  It is in vain that German manifestoes are put forth declaring that all Government offices will take the notes as an equivalent for gold, for what the people want is not a traffic with Government offices, but the cash to buy food.  Even more serious is the fact that Austrian and Hungarian directors of banks will no longer accept these scraps of paper.  In vain, too, is it that the hungry folk see the walls of the ‘House of Friendship’ rise higher and higher in Constantinople, for every day they see with starving eyes the trains loaded with sugar from Konia, and the harvests raised in Anatolia with German artificial manures guarded by German troops and rolling westwards to Berlin.  According to present estimates the harvest this year is so vastly more abundant than that of previous years, that no comparison, as the Minister of Agriculture tells his gratified Government, is possible.  But the poorer classes get no more than the leavings of it when the armies, which include