believe that there now remains only one assertion which we have
ventured to make, which we have not yet proved. We repeat it, and shall
proceed to state our proofs. We say that Greece, if equitably treated, is
not bankrupt, but on the contrary she possesses resources amply sufficient
to discharge all just claims on her revenues, to maintain order in the
country, and to defend her institutions. We shall draw our proof from the
budget of King Otho for the present year, as this statement was laid
before the allied powers to excite their compassion, and show them the
absolute impossibility of King Otho paying his debts.

The revenues of Greece are stated at 14,407,795 drachmas: and we may here
remark, that last year, when his Hellenic majesty expected to persuade the
allies to desist from pressing their claims, he stated the revenues of his

kingdom at ... 17,834,000
The national expenses only amount to ... 11,735,546

Under the following heads:--

Drachmas.
Foreign Affairs, 394,712
Justice, 904,902
Interior, 1,073,182
Religion and Education, 651,658
War Department, 5,255,804
Navy, 1,404,465
Finances, 486,600
Expenses of managing the Revenue, which, in
all preceding years, has been a part of the
expenses of the Finance Department, 1,564,222
Another section of Finance Department, 60,000
----------
Making a total of 11,735,546

The expenses of the Greek government which have been imposed on the
country by the protecting powers, but never yet approved of by the Greek
nation, are as follows:--

Drachmas.
Interest and sinking fund of debt due to the three
protecting powers, debt to Bavaria, and pensions, 4,703,232
Civil list of King Otho, 1,209,064
----------
5,912,296

It seems that the allies have made a very liberal allowance to King Otho.
The monarch and his council of state cost more than the