The New York herald., 1879-09-13
EGYPTIAN B0NDAG
Position of the BOndhOlders Before and
After Ismail'S Deposition.
FOREIGN INTERMEDDLlNG.
The Necessity Of Bismarckian
FrankneSs.


Egyptian imbroglio those two incidents seem only
to have complicated it; for ii has become burning
question, both i'll England and France. since those
events and the mudde in Egypt is worse than ever
The British Parliament and the French press have
both been busy over the matter and the conclusions
arrived at in both countries have been equally un-
satisfactory. The Khedive promises TO give
more trouble than the old, being young man or
strong convictions and patriotic impulses and with
the courage of his convictions. He is very popular
in Egypt, and commands the confidence of his own
people and the respect OF the foreign element,
neither of which were accorded to his father. The
dissatisfaction felt in Europe at this abortive in
reference of these governments in Egyptian affairs
has been recently formulated III the British Parlia
ment il a few words. 1t has been characterized as
'an attempt farm Egypt for the benefit
of her English and French creditors, in viola
ton of national comfy and international law.
The whole aim and action OF the allied Powers in
the establishment of its joint commission in Egypt
have had their motive the heartless effort to
squeeze sponge already almost dry from repeated
wringings by the hands of foreign creditors and
commissioners conjunction with their grasping
khedive. The renewal of the Anglo-French Com
mission is intended only another turn of the
screw on an almost empty exchequer. and on a beg
CARED and despairing people. Shylock never dealt
more merciIessly with his debtor than have those
Christian Powers with the Egyptian.
THE EGYPTIANS FOREIGNERS.
The torpid conscience of Europe has been stirred
of late by the revelations of facts which neither
be denied justified. At the close of its late
sion the British Parliament engaged in long and
angry discussion on the methods adopted in Egypt,
and this debate, together with the comments of the
French press thereon, has thrown q hood of light
dark places and shows the '.rocks ahead" for
Europe and for Egypt Political considerations in
the first instance counted for less than nothing in
this matter. but have risen to the surface, and
Gently have greatly controlled foreign action.
The whole Egyptian complication, commenced, was
continued and still upon the settlement Of the
public debt, amounting in round numbers to
$45O,O0o000. This includes all public and private
loans and indebtedness OF Khedive Isman and the
Egyptian government-convertible terms for tho
last fifteen years. Louis XIV could not more truly
have said az am the State" than could Khedive
Ismail At his accession in January, 1868 the public
debt of Egypt did not amount to SIS, 100000 Said
Pacha, his predecessor, left no personal debts
charge on the State and deplored almost with his
dying breath the writer his initiation of public
debt. before adopted, whose increase he fore
saw with almost prophetic eye, though far from
imagining the vast proportions it would assume
shortly after his demise.
DEBTOR AND CREDITOR.
improvements in the country the credit of which
has been given exclusively to Ismail-thc introduc-
tion of gas, waterworks railroads and telegraphs
being due the former. To have made that debt
twenty times greater in fifteen years certainly has
been great financial feat, proving the great scalo
which that Egyptian ruler conducted his public
and private affairs but hardly emitting him to the
grateful recognition of tho governments of France
and England, which have deposed him, with
nua pension of half million dollars a reward for
his cleverness This public debt, for which the
Khedive aud the country have received in cash,
probably about thirty forty per of of
the bonds, is held almost exclusively, by French
and English banks and spectators; a sma Il amount
only remains in native hands, the interest of
the Egyptian people therein being comprised
in the terrible taxation and grinding op-
preston of the whole native population, for
the means of paying the enormous annual interest
and staying the creditors hands from the sacred
person and purse of the khedive himself OF these
creditors the most numerous and the most clamor-
Gus have been the French and the English and politi
cal considerations have been introduced. through
the joint action and mutual jeaousios of the two
governments. which, since the period OF the first
Napoleon's Egyptian campaign, have made Egypt u
political battle field, and struggling this hour
to prevent the Mediterranean from becoming
either 1.-THE French lake" Napoleon decreed it, the
English lake into which British policy would con-
vert it through the potent agency of pounds sterling
thrown into the Suez Canal and the khedives treas
ury. For when the Khedives creditors became
clam five years ago he called only England
to help him. not France; and England promptly
responded by sending high official to cook up his
and reinstate his credit in the person of
Mr.. stephen Cave, most able and honorable man.
ENGLISH AND FRENCH INTERFERENCE
But France Jealous this exclusive control @
Egyptian AFFAIRS insisted strenuousy on partici-
patton just The depression and the shock
of Sedan had passed away that the joint commission
Of Goschen and Joubert representing the French and
English creditors and their respective governments
well. instituted in the winter of 1876. and
to the financial complications, harassing the unfor-
tunate country political superadded, to
the detriment OF all the interests and all tho parties
concerned This Goschen-J oubert commission has
been the fruitful mother Of that enormous brood OF
European employees which sent at enormous
salaries TO fiji the public oficos and control the
receipts aud expenditures of the government, the
late Khedive taking quietly that they should
do no such thingl What this experiment.
thus privately rendered Of avail--cost Egypt no
man can calculate; but it has amounted to many
millions OF pounds sterling and the good results
were nal. The peculiar character of the country an
its people rendered It easy tho native ruler TO
play his farce under the very eyes Of the foreigners
doubtless TO his own infinite amusement, but at the
cost of tears and groans TO his people and tho
of his creditors The JOINT commission OF Rivers
Wilson and DE Blignieres the spawn OF the first
which his foreign godfathors insist on astening
ON the new Khedve because they were kicked out
by the DID, and against whose restoration Tewhk is
vany protesting. has meddlod and mudded with
Egyptian finance and politics in the insolent
and imbecile manner, only making confusion worse
coniounded and ''chaos come again"
INTERMEDIATES IIcilED OUT.
by the unanimous verdict Of his people, ard of all
disinterested observers. the wise and patriotic
act of Khedive Ismail in his latter days his
kicking out these arrogant and inefficient inter-
ncdders, ono OF whom is a copcoited young Foreign
onco prg, tho other an obscure Fronchnan, well