The Daily bulletin. [volume] (Honolulu [Hawaii]) 1882-1895, 1882-08-07
qht nai|a BHllsfiq:
MONDAY, AUGUST z. 1882.
The STORY o. TIE EGYPTIAN TROUBLES.

6'ouhN uoWu DyA tdAdtiOu tnan
during this period by the Khedive's
Minister Of Finance, Sadyk Pasha,
whose rise, power, and tragic fate is
one OF the most striking episodes of
the reign. There was a resort, also,
to such expedients as permitting
proprietors to redeem themselves
from the land tax by paying six
years in advance. The Suez Canal
shares reserved to the Khedive were
offered to and were purchased by
the British Government. Every
thing that could be pawned or sold
was pawned and sold accordingly,
and the Khedive maintained his
opera-house, and built palaces, and
his favorites accumulated riches.
Not that he obtained the whole of
the money raised in his name. The
history of the 1873 loan is instruc.
on this point. The amount was
t32, 100000 at Z per cent, and it
was supposed to be floated at f93.
A total Of only f20, ZOO, 900 reached
the treasury; of this amour f9, 0OO,-
600 was represented by bonds of the
khedive's floating debts, purchased
Mt f65 per fl0O, but received by
the Treasury at their full nominal
value. Thus was the khediye paid
i'll his own coin.
. In 1875 the great spendthrift had
come to the end of his tether. |
lsmail Pasha, while he plundered |
others, did not believe in being
plundcred himself, and he had made
repeated applications to Great Bri-
tain for officers to administer his
departments. The British Govern
ment refused to accept RESPONSE
bility, and such officers as entered
the Egyptian service were volunteers.
In 1875, the bondholders were
clamoring at all the European
Courts, and were demanding that
their interests should be protected.
And the representatives of the Canal
and OF the other large interests
which had grown up, also protested
against Egypt being allowed to drift
nto bankruptcy and reputation
through disagreement, inasmuch
is conflicts between the khedive and
lis creditors would be fatal to order
md security. Yielding to this pres .
ure England and France became
more and more directly concerned
n, and responsible for, Egyptian
government. In the first instance,
he Right Hon. Stephen Cave visited I
;airo to investigate and report on
he Khedive's affairs. Mr.. Cave :
ias assured that he would be met :
nth ''all possible frankness," but
8 matter Of fact the Khedive and
is officers are accused of lying
utrageously, 80 that the Cave re- Z
ort is worthless. The appearance
I Mr.. Cave on the scene added to r
ne rivalry of France and the Due
,ecazes, Foreign Minister, half soli- s
tied and half demanded that the
rinciple Of joint action should be
,cognized, and Lord Derby and :
ord Beaconstield finally concluded,
OF an Anglo-French alliance, but z
n Anglo-French understanding.
commissioners of public debt were
ppointed, international judicial tri-
lnals were established-the finances
Egypt were. in fact, handed over
a High Court of Bankruptcy.
he Khedive could not have fore n
zen the result when he consented to p
'ese changes. One exposure of c
al-appropriation Of funds followed 7
,other. Par ordre superieur," ~ ~
rs pleaded by Egyptian officials to +
'ver everything. In one year the
,hciency between the amount
hich should have been paid in the
easury, and which was actually so NJ
i'd, was "a 200, 900. The dis. d
were equally erratic. ~ ~
Cut off from supplies, and ex- 81 81
'sed to the torture of exposure, Ii
mail Pasha took desperate steps. tt
rst of all he turned round upon II
, native Minister of Finance, ~
mail Sadyk Pasha, the Moufettish. G,
H,,lk =,