Morning journal and courier., 1880-03-13
THE SUEZ CANAT.

Journal for April is exceedingly interesting as
 an account of the way in which Egypt was
 swindled by the canal company. Itis also im-
 portant and timely in it's revelations concern
 ing De Lesseps as calculator and 8 canal
 maker.
 The first proposition made by the projectors
 of the enterprise to Said Pasha was that if he
 would permit them to excsvate canal through
 his dominions they would do all the work at
 their own cost and pay him 15 per cent of all
 the profits the canal might earn. They were also to be allowed to dig 6 fresh water canal Cat their own cost) from the Nile to the ship canal. as the work could not be done without
 water. They were to be the owners for ninety nine years of all the government land, then unocoupied, which lay along the banks of this canal and which might be irrigated from it. free of taxes for ten years. At the expiration of ninety-nine years, the entire works were to revert to the Government, upon the company being paid the value of their improvements. In case the charter should be renewed at the expiration of its term, the Government was to receive an increased share of the profits This grant was not enough and so they obtained another for fresh water canal, starting from the point where the first one was to touch the marine canal, extending to the South as far as Suez, and to the North as far as Port Said All the unoccupied land lying along the route of this projected canal, and belonging to the Govern ment, which might be irrigated from it (amounting to many thousands of acres, and which only needs the Nile water to make it most productive), was to belong to the com pany for ninety nine years, and was to be free Of taxes for ten years. They were to be allowed to demand pay for the water which the canal might furnish the pro prietors of land in it's neighborhood. They were to be allowed to charge ten francs per ton on vessels which might use the ship.ca and ten francs toll on each passenger who might pass through it. One stipulation only was made in the interests of the people of the country. As it was evident that the oonstruc- tion of these immense works would require the employment of great number of labor CTS. it was agreed by the company that four ffths, at least, of the workmen to be employed upon them should be Egyptians. The Khe- dive little dreamed when he made this stipula- tion, which was clearly intended should bene- fit his people, that he was consigning upward of twenty thousand human beings to their graves, and that he would, in the end, be called upon, and forced, to pay an immense sum of money for 1t.
 The first concession was made in November, 1854, and the second In January, 1856, but the books of the company were not opened for until November, 1858. Money did not come in fast, and in 1860 the puEhsrs of the work were at the end of their resources. The company had already borrowed g. ,394, 914 francs from the Khedive, but they set to work upon him in earnest and persuaded him to for IF, ,G62 of the 400, GOO shares of the stock. He did not have the money in hand with which to pay up his subscription but Egypt's credit was then good. Treasury obligations were issued, and it was arranged so that the Khedive was to pay over 24, 900. 900 francs and was to receive in bonds over 15,- poo, 900 francs, the difference between what he paid and what he received being nearly 10, ,0oO, 900 francs.
 After Said Pasha's death, in 1868, Ismail Pasha, who succeeded him, became the vio tim of the company. They worked at him until they had persuaded him to release them from building the sweet water canal, and got the Government to agree to do the work they had failed to do according to their agrse-- ment. Thus, in few years, instead of noth- ing, which it was to cost the Government, the Government had contributed 9s 900, GOO to the enterprise Exclusive of interest," had agreed to construct important works and to keep them in repair, the company to derive the sole benefit therefrom. From being the beneficiary, the Government became the ben efactor. It was to do the work the work, when completed, was to belong to the con- pany!
 We pass over the account of the dreadful sufferings of those who worked upon the canal, which caused the successful interfer- ence of the British Government. When the British Government compelled the Sultan to order the Khedive to stop driving his subjects to their death in the canal, the company had grievance, for the Khedfve had agreed to fur nish laborers. And although the consent of the Sultan had not been given, with out which no agreement of the Khedive was binding, they must have damages.
 And, while they were about it, they claimed the amount which they had already expended on the canal which was intended to connect the Nile with the maritime canal, and which, as we have already seen, they had abandoned to the Government. Then they claimed the amount which they estimated 1t would cost to complete that canal; then the value which kL AI k, I,ol
 been completed; then the value of the lands lying along the banks of the canal, and which were to be irrigated from it, which had been
 given to them, and which they had retroceded to the Government when they declared their inability to complete it; then the value of the water which the canal would have furnished them. The Khedive protested, but finally, in an unlucky moment, consented to an arbitra- tion. The arbitrator called upon was Louis Napoleon, and when the arbitration was end ed the Khedive was poorer by S4,00o, 900 francs in money, and in addition the company were awarded immensely valuable privileges. The result of this arbitration was so success full that the company discovered after it was over that all their just demands had not been included in their original claim, and they again commenced to squeezs the Khsdive, who resisted until arbitration was mentioned and then surrendered. He agreed to pay 30,- coo, 900 francs if the company would go away and never come to him again for more. To this the company finally agreed. but they rounded him of by making him pay them 10,- COG, GOO francs for piece of property which they had purchased not very great whilebe- fore for 1,s0O, 900 francs! To pay this Last amount, being without money, &he Khedive gave the coupons which were attached to his canal bonds, running down to the year 1895, the face value of which runs up to 12s, coo, 900 francs. These bonds his necessities com-