, 1879-03-12
EGYPT BANKRUPT.
Tho Splendid Bubble 1snrht-Con(iilcuce On-
ernttnns-Tho Khetilve, After Esorro wing
Four Hundred Millions, Sits Down on Ills
Creditors.

Four Hundred Millions. Sits Down Ills
Creditors
IT yoa n ho = svnnctnl th,t IN, stoto =, ,e,;rs
IN Ervrt should nttrart thc n,r,v n,tont,n, -
par1tom,nt mn, Tho ,,Iscuss,o rs,a,,1 i,a, nIpht
~ 's.e ~. ''seu". 'atsso 4ss "'Ent
~ ~ a. sa'nnsaso" npon syp.aan naee sase
OF axplaintng the general views OF The GOVERN
All ,not has hor;nen.1 In Ryv,t -, Int. ,,s
~ ,.las nu. nappsaeu ,,'.. III ix3t o1 !ate nas
made 1t necessary fl,at VIC should watch tho
COURSE Of affairs III thatcounsry with unccasng
vigilance. Our interest there Is paruuount auI
y.nl. uu1 wc rannot n,F,ys IN he tn1ItT.r.nt ~, n
events which seem ia ,nruaco #. a frw vc,rs ~
ago. fn.lced, Egypt was regarded by many as tho
Promised land Of the East. 1t was ruled by
n Soycrrtrn who seemed to co,nh,nc tbr
o,,r,r,il,, ,.,,,,,,ot.,co ~ =, O,to.,."1 ,x.a.
ep!c4''.,o o'liMauote"ee ~ ~ or'cnta1 acspot
VIII lte chlleatchlnent 'ol Earopcan ciV1llza-
tion. Other countries tlad hvcn developed by
public works: Is.natl rasha would cnruuraea
public works and dcycloo thu neglected re-
] sonrcao ~ Eernt r n,n"s s,,n,r,os ' ase..a ~.
luxury OF iat'onal debit ls'nai' pas'a ronld
borrow money and bsayc Il with tho best Of his
Europcuu rivals. Other countries l,au beru
J:uo,yu 10 .,our,,,, ,,v means nj su,r,o,l f7ro
po.se}' lanai tas"' "ouio nave foreign
policy Of bis own; Ea would extcad the sway nt
Egypt from tho Mediterranean, to tho Enuu,or.
from the Rct, Sen anKi thu Indian Orean In t,,e
asAs ..4a".u' M' '.aAes oas' ~ "ese t,'e N"e-
J alses Efalaloso des'Ehsi anu u nc could only
havc kept un tl,c illusion lnnEcnoust, he might
hive gonc tur toward realizing some OF them.
When bis fau1 was ut Its highest sono
people would hardly hayu thought #
strange II the great,granlson Of a1l
obscure Albanian merchant bpI aspyreI
to occupy the throuo OF Oihtnan. 1smnfl paslla,
III fact. WA almost universally regarded US m
enlightened potcntate. Ills ability md energy
wcrc undoubtct!, nnl ho l,atl succeeded In
persuallIng thu world that they werp devoted,
not only to ILLS own Interests, hut tn those
ul Ills country. tie had all tho vigorofs
inttfatfve Of tho West, together with ali tic
generosity md hospitality Of thu East. II
lie entertained. thu prtpcrs OF Eutppo each In
n separate palace; II runds were lilaae US 1t
by e!lctaNt.llent, In order lAt hfs guests might
sec the wolnlcrs Of his historic land IN comfort:
II pay,llnns seemed to riso fron, ,u gr..t111d a,
trccs In flourish III tue wilderness wherever they
mn1e a halt. Ill this was 'aniy ti,s magnificent
hospitality Ut m Oriental Sovereign, md nu
tis cared to ask how tho blu was paii. NIrn Of
ili1h us stlscHl tls themselves. Fnhi,-
clers talked to him. an.l, to their ultt.
mate cost, they found him oven ss.rcwder. Ills
suar w. IA "stssss :rg r.,"s. Se his ran wors
tgtEraphs everywhere, showed his gcaaclesa
activity. 1t l.e fad tnore patnecs fn Cairo than
any three capitals tn Ellsopu could show, that
was uuly thu parlolab,e snlendor Ut M
Oruntal Sovereign. For 4 long time uyery one
took Tbs Khuaiivu Iretty much ut Ills own csti-
ulute, a.livscrything sculI,ull for .hp best under
tAo best Of aiI possible rnlurs. '@ '~@' '''>'e
At last Tie spleMitd bubble burst. Ooe by
onv thu magnificent projects o! iiio Khc,lty,,
collapsed, lis equatorial campaigns met will
mtniously driven u,it Of Ayssffin. Iia ,,,t%iel
sugar fActorcs. Tor wl!cl, Eis subjects lad bcc,,
lMauo to pny, proved future. FinnlIy, hls
credit co!la,sysl, u,pt tlcp Il il WAS fund tIlnt
tt,is enlightened md cucrgctir sovereign l,a,i
| s,ldlllrI Ills exhausted country with i debt
amounting to little nllurt Of rf,,hty millions
sterling. 81 complete VAS tiIc rl.In 'lst oat "t
| tnuru tau eight millions al ntn1u r.yrnuc. ux.
tpricd iro,, d ,"'y"rtx.s,r,ken ca,,ntry. I,nreiy
r,illIun nl,. lsa!i, ~ Mr. Sn,nueIson tells III,
are lnIt To carry o,, lis t,uyerIunrnt. Aftur iii.
liz Klrdiyc's secret w,,s i. ysry simnla ans: III Il
was no.as n.oro slan lis t,ractltat sipiieatls,s
| np u large sralo uf iho Reiterated m,uxir,
tliut tic use uf The pcn,,ic who hayu
| tnuury ia To minister IA, 1he wnnts nj
| pcoplo who haye hrnins. So lon,, IA liz, Kin.
| to puy futrrcat, I'D n,uttcr ut what rata. Its