Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1882-11-17
MEMPHIS APPEAL
'RIDAY, :: NOVEMBER IL, 1882
TIE EGYPTIAN "coNrRoL.,

THE EGYPTIAN s'CONTROL.''
The kilograms from Egypt, since the con-
clusion of the war there, have had much to
say about "the control" What :the con-
troll is, and how its abolition the other week
is viewed as a matter of so much impor-
tance, puzzles many. newspaper readers, so
that some explanation respecting it will be
acceptable. The "joint control" came into
existence in 1876, in consequence OF Ismail,
who was the Khedive or viceroy of Egypt,
having plunged the country into debt by
borrowing large sums in Europe. When
the time for the payment Of interest came
there was no money in the Egyptian treas
my with which to meet the obligation, The
money had been borrowed for the purpose
OF making improvements which-by increas-
ing the amount OF irrigation and the intro
duction of manufactures, and in various
ways facilitating the national commerce,
should extend the resources and 30
increase the prosperity of the country.
Expenditures were made in this way,
some of them very unwisely, and where
good Of themselves the prejudices of the
fellaheen, the natives of the land, often
frequently of the most absurd character.
WindmilIs, for instance, would be much
more efectual and economical as a means Of
raising water from the Nile and the canals
for irrigation than the antiquated, rude and
inefficient methods that are in use, but
prejudices of the fellaheen will not permit of
their Introduction. very large proportion
OF the money borrowed was totally diverted
from any useful purpose. The Khedive,
with trse oriental luxury and magniGcence,
expended heavy proportion OF it in build
ing new palaces, increasing his harem,
dressing his wives and women in splendor,
in new furniture, and a thousand other
wasteful ways. When the prodigal found
payday coming round without funds, he set
about ascertaining the position of his de-
ranged finances, and at his request an En-
glish expert was set to work, who made a
report on the condition of the national mon
etary affairs. Mr.. Goschen and Mons.
Joubert, on behalf of the English
and French bOndholders, went to
Egypt and prepared a plan of super
vision and settlement, which became the
basis OF the control" A controller-general
was appointed for receipts and another for
accounts, whose duty it was to supervise the
entire accounts of the country. The places
were filled by Frenchman and an English
man appointed by the Khediye, neither of
their governments being responsible for their
actions; they were responsible to the Khe-
dive. Their appointment involved the en-
ployment of many foreigners in the manage
ment of the Egyptian finances. These peo-
pie found means 10 acquire political power
IN connection with their duties, and Ismail,
whose troubles led to his deposition from
power, has declared in Paris that they
wished to rule the country as we'll as to
manage the revenues. Arab also COM
planned that one great cause of the
troubles that led to his opposition to
the Khedive was that foreigners de-
Prived Egyptians of their due share
of official position, and appropriated TO
themselves extravagant salaries which were
burdensome to the country. In 1879, when
Ismail was deposed, the control acquired a
distinctively political basis, they were APP
pointed by foreign governments and could
not be removed by the new Khedive. They
were no longer the financial agents of The
bondholders, but the dispensers of patronage
to swarm of foreign officials. While the
control restored order and system to the
Egyptian finances and effected reforms, il
naturally caused dissatisfaction among the
army and the educated portion of the peo-
pie. When the revolt came under Arab,
the French shirked their responsibilities and
lea the English to meet the difficulties of
the position alone; this brought the joint
control practically, and at length formally,
to an end. The debt has still to be met and
the interest paid, however, and if the settle-
ment were left to the natives it would never
be effected, and the financial management
will probably go into the hands of the
"public debt commission" body in which
England, France, Italy and Austria are rep
resented. The commission is composed of
four representative members proposed by
the above governments and appointed by the
Khedive. Its part is simply that of inter-
mediaries between the Egyptian government
in bankruptcy and its creditors. 1t confines
itself to receiving from he Khedive's agents
the produce of the taxes assigned for the
payment of the interest on the debt. Whether
the commission will succeed in giving better
satisfaction to the Egyptian people than the |
much-hated control, experience will show.