The Dallas daily herald. [volume] (Dallas, Tex.) 1873-1887, 1884-09-29
THE SINKING FUND.
CHIEF THEME OF pIscoNreNr.
Nnbar Pasha Tool OF the British Govern
ment-Bonds Of Egypt Owned by
all Nations = England Must
Yield to the Powers.

Money is the pivot of international
politics, as well as Of all other kinds,
and of everything else in this money
getting world. The European powers
which viewed with indifference. if not
with complacency the bombardment
Of Alexandria, the slaughter Of Tel el
Kebir and Teb, and the virtual
e1tinguishment of Egyptian independ-
ence, are giving visible and vigorous
signs OF dissatisfaction at the pro-
posed suspension of the sinking fund
set apart for the payment of interest on
the Egyptian debt. The German,
French, Russian and Austrian Consuls
at Calro-acting, of course, under in
structions from their respective gov
ernments-have presented formal
protests to Nubar Pasha, the Egyptian
Prime Minister, and the italian
Consul is expected to do the same. In
other words, there is "a joint European
protest which England can neither ig-
more nor neglect; for, as every one
knows, Nubar PaSha simply obeyed
orders from the English Government i'm
authorizing the diversion of the sinking
fund to purposes which that Govern
ment considers of more urgent neces-
slty. If only Egypt We're iuterestet we
may be sure that none of the powers
except England-and she only for
purely selfish mOtives-would trouble
themselves about this matter 1t
Is the widely distributed Egyptian
bonds that brings them thus forcibly to
Inc front when everything else has
failed to do so. These bonds are held
by Germans, French, Russians, Aus
TRANS, and ltalians-though English are
much the largest holders-and it has
boon the assumed English guaranty for
the payment of interest which has hith-
erto Kept the others quiet. Now that
this payment seems in danger of indeli-
nito postponement, if not Of final repu-
diation, they are noisy enough.
have been left to "stew in its own
grease" or absolutely taken in hand as
dependency Of the British Empire. for
whose peace and prosperity the British
Government was responsible. Instead
OF which England has tried to play the
game OF last and loose" holding
Egypt with one hand and letting go
with the other; claiming the ght of
exclusive government, yet disclaiming
the responsibility thereof; promising
an early withdrawal from The country,
yet steadily preparing for p,rma-
nent occupation. The consequence *
that, undor this notwithstanding Svslom,
Egyptian affairs have gone from bad to
worse, and that the situation is now
much more difficult and dangerous for
all concerned than 1t WAS two years ago.
But point lis now reached where, we
think, England must do Ouething or She
other The failure u, the Egyptian Con-
ference ~ prrivcU. amy satisfictoryclu-
clusiou, Followed 10y the unanimous uIo-
LOST OF Tue European powers ON the sink
ing lund question, can hardly fail 10
bring the case to % crisis. England must
eiLhe' shy tHHt she Intends TO keep
Egypt bv prutccyprate or annexation.
and VIII assume all liabilities, financial
ana political, or she must step down
and out from her present "dog-in- the
munger position, and leave Egypt to
DO the PRIZE of general European
scramble. II is possible, Of course, that
by recalling the siuking-iund suspeu-
sion and giving assurance that the in
terost on the bonded debt will be
promptly mot, the pending difficulty
may be tidod over; but the strong
probabilities are that the relations be-
tween England and Egypt arc now IN
for definite aud decisive settlement.
aud that, too, before Jury not single
member OF which is friendly to Eng.
land, or disposed to relieve her cmhar-
rassmont in any way Globo-Demo.
crat.