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GREECE BEFORE THE WAR OF 1 897. 20I Europe committed to this child Otho, and as we shall see further on, held Greece responsible. With the establishment of the kingdom in Greece the sovereigns of France, Great Britain, and Russia pledged themselves for a loan of 60,000,000 francs for the new king. The money was to be raised in three series, each of 20,000,- 000; the first series at once, the others as the new government should be in need of them. The diplomatic representatives of the three powers in Athens had to see to or to supervise the pay- ment of this debt, which was to be in seventy- two half-yearly instalments. The interest was six per cent, which was deducted beforehand. Rothschild, who put the loan in the market, was allowed two per cent commission. Four mil- lions were lost by the rate at which the loan stood in the market; 1 1,000,000 were at once to be paid to Turkey for an improvement of the Greek frontiers, which arrangement had been made by the diplomatic representatives of the powers on July 21st, 1832. A pitiful increment of territory was thus conditioned on the payment of 1 1 ,000,000 to Turkey by the unfortunate coun- try, which the Turkish mercenaries had ren- dered a desert. Greece was made to pay for this operation out of this first of the vicious loans.