The New Orleans bulletin. [volume] (New Orleans [La.]) 1874-1876, 1875-12-26
THE BRITISH GOVERNMENT AND THE
SUEZ CANAL.

London Correspondence Nov. 27th) New York
Financial Chronicle
The feature of the week, both from politi-
cal and financial point of view, Is the &C.
ceptance by the British Government of the
Khedive of Egypts offer to purchase his in
terest in the Suez Canal for 81, OOO,O 600 Parlla-
mentary sanction has, OF course, to be obtained
but, when we bear in mind that 1t is extremely
important that our communications With the
East should be unimpedad, there can be little
doubt of the fact that the Government will!
obtain in Parliament and throughout the
country plenty Of support to the proposal.
The step seems to be bold one for English
Ministers to take, but the uncertainty which
exists regarding the future of Turkey, and the
necessity which also prevails for this country
to have firm hold eft the Sutz Canal, are
sufficient for any government to act promptly;
and, no doubt, Mr. Disraeli has not been slow
to take advantage of the opportunity which
has presented itself. Continental nations have
blamed US, and will continue to blame US, fo-
Withdrawing our support from Turkey; but,
as we have fought great war to
maintain her integrity, and as we
have lent her many millions OF
money, which she has squandered, while the
government has made no attempt to rule
wisely and well, even after serious and re-
peated representations from the great powers
of Europe, no surprise can be expressed that,
in order to keep up our Indian communica-
tons, we should seize the opportunity OF ally
ing ourselves with power with whom our re-
lations are becoming daily more important
Tae power of money is great; but, at the
same time, it was wise that the Khedive should
offer his shares in the Suez Canal to this
country in preference to any other, as there
can be no doubt that, as we value highly our
Indian possessions, we shall, in case OF ne
cessity, make great sacrifices to defend and
protect them.
Continental nations know this and it is the
feeling of Ministers, as we'll as of the country
that the Turkish question is more of interest
to Austria, Russia and Germany than to our
selves. 1t is not likely that we shall pursue
an undgnifed course towards an old ally; but
it is out of place to support totterlng State
which has, during the last twenty years, had
great advantages in the way OF foreign help IN
money and advice, but which has been sadly
mismanaged and reduced to state almost OF
bankruptcy. The capital of the Suez Canal
Company is divided into 100000 shares, OF
which III, 900 shares are thus to be transfer
red to the British nation. The payment is to
be made at once through Messrs. Rothschlld,
so that Parliament will have, in fact, to sane
ton purchase which has already been made.
Inere mas, OF course, Deen coAsiuefapie CA
citement throughout the country IN conse-
uuence of this unexpected transaction We
have yet to hear what other nations think
about it: but whatever may be said, 1t is
political success which we'll established the
reputation of the present government, and 1t
is pretty evident that it has originated with
the acute Prime Minister. Foreign nations
may think that we want to conquer Egypt,
and it il possible that our denial will be I'M
availing. That we shall defend India and
Egypt to the full extent of our power is quite
certain, but the Turkish question will have to
be left to be settled by Powers, whom we be-
lieve to be more interested in the matter than
ourselves.