Letter

I have no complaints that should concern you. I have always thought and still think that the Ottoman Bank and the government should collaborate. However, I must say that I have been disappointed with respect to this collaboration when, in May, 1926, you have refused to come to our aid in the matter of the 10 million liras of treasury bonds. I did not argue against the reasons you invoked then, but I am a politician and, as such, I sometimes go through difficult times. That was a difficult time for the treasury and, consequently, for my government. Right or wrong, -I shall not discuss the purely financial and technical aspects of the question-you have linked this issue to that of the liquidation of the debt, which to us is to a large extent a political matter. From all this, I have come to the conclusion that I could not count on the Ottoman Bank in all circumstances, and that the bank could well be influenced regarding its relations with us by "external" forces. It may be its own right. But I, as chief of the government, could not but reach the conclusion that I should look for other sources of support which would not fail me in times of difficulty.