New-York tribune., 1885-03-19
EGYPTIAN FINANCES.
THE AGREEMENT BETWEEN THE POWERS.
LOAN OF $4,000. 900 ouAnANrEED-ruE STU.

A LOAN OF $45. 200. 900 GUARANTEED-THE STU
ALTON IN THE soUDAN.
= LONDON. March 1S.-Ths Right Hon. Hugh
Childers, in the House of Commons this afternoon,
unfolded the Egyptian financial agreement which
was signed recently IN London by the representa-
tives of the Powers concerned. The agreement, he
said, guaranteed a loan of $45 100000 to be used
In lifting the Egyptian debt. The guarantee of
this loan by the other Powers does not however,
confer any right upon any one of them to interfere
with England's internal administration of Egyp-
tian affairs. The loan is to be liquldated by the
repayment of the sum of 81 ,575 COO annually, and
that sum is to constitute the first charge against the
Egyptian revenues until the entire loan is lifted.
The normal annual expenses Of the Egyptian
Government are fixed by the agreement at the gross
sum of $26, ,1s5.O0O. This includes 81. 100000 to
defray the cost of maintaining the army of occu-
patton. The agreement provides for the extension
OF taxation to all foreigners resident in Egypt.
lt also arranges for an exhaustive investigation
into the revenue-earnng capacity of Egypt Two
years are TO be devoted to this inquiry. While it
is in progress there is to be per cent deduction
in the coupon payments and u per cent reduction
In the interest on the Suez Canal shares.
In addition TO these reductions the agreement
empowers the Kbedive in the event of the necessity
for further reductions in the period of the two
years inquiry. to summon international com
mission to consider aud make them. A provision
for the free navigation of the Suez Canal is
mentioned IN the agreement rs q matter that will
be dealt with in the forthcoming Canal Conference
at Paris The clause referring to the taxation of
foreigners in Egypt was received with cheers.
After he had finished his revelation of the terms of
the agreement Mr.. Chders, in answer to questions,
stated that the rate of interest on the loan
guaranteed by the agreement would not be allowed
to exceed gig per cent lie further said that if any
default in the payment of PRINCIPAL or interest
should occur, each of the guaranteeing Powers
was answerable.
The Conservative leaders, after hearing Mr..
Childers's statement, decided TO postpone action
until the convention has been presented to Parlia-
ment. The vagueness of Mr.. Childers with refer
ence TO increased representation the commission
on the Egyptian Public Debt and the objects of
the meeting OF the Suez Canal conference left an
impression that the Government had something to
conceal The English delegate TO the canal confer
ence has not yet been appointed. Lord Lyons,
the British Ambassador at Paris is engaged in cor
respondence with regard to a definite programme
for the conference.
Late advices from Cairo throw discredt on tho
report that Sir Evelyn Barring urges the appoint
uent of General Lord Wolseley 10 the Governor
ship OF the soudan as matter of policy to convince
the natives that England means to retain control
SuAKIM. March 1s.-The whole body of troops
stationed here will parade tomorrow and be
inspected by General Graham. The berkshire and
Surrey Regiments aud the Indian contingent will
form the advance guard on Friday. The Shropshire
Regiment will remain 10 guard Suakim.
kOK1, March ls.--It is estimated that reinforce
ments to the extent of % per cent of the present
strength Of the troops here will be required before
autumn owing to the large number of cases Of
sickness and death from tho heat. The camel
drivers refuse 10 remain here. Navigation of the
Nile Is difficult and transportation of the wounded
Il tedious General Lord Wolssley will visit Abu
Dom. General Grenfel Will inspect tho line of
communication 90 Assiout. aud command the Egyp-
tfau Army General SIR Evelyn Wood will COM
mand the troops In the entire region between
Merawi and Dongola.
SUAKni. March ls.-A general advance toward
Tanas will be made on next Friday. Spies con-
Time to report that the AmaTar tribe of Arabs will
desert III Mahdi aud join the British at the first
favorable opportunity.