New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1892-12-02
HOW THE SUEZ CANAL WAS MADE
SAID TO BE A TRIUMPH OF UyscBUPULoUS
FINANCING-FATE OF ITS PROMOTERS.


Copyright: 1892. Bg The Associaed Press
London Dec 1.-The prosecution Of VI. dc Lesseps
Is WATCHED in the highest and bestinformed financial
circles OF London with rather more curiosity as 10 now
much the proceedings will reveal than with any
sentiment OF deep respect for the II the judges
Of the French Tribunal exercise 4r wonted privilege
OF scrtinzing not alone the dOings Of persons prose
cuted In the matter OF the Panama Canal scheme. bat
also the history OF VI. de Lesseps In financing the
suez Canal, much will be publicly learned about him
that Will give the world new perception of his
character. 1t would be shown that the suez Canal
was much less a triumph Of engineering than Of un-
scrnpulous financing and that 1t could never have
been financially successful unless VI. de LesseIs had
been backed BY tie murderous cupidty OF the Egyptian
Viceroy IsInail Pacha. No American or English
protector could have venurcd upon working with The
vile allies with whom de Lesseps cO-operaed for
years. De Lesseps started TO make the Suez Canal
with an initial sum far blow his ultimate capital and
got successive loans system which was aherward
applied Wits expansions in the Panama s"indle
But the worst feature OF the 5uez enterprise was
not It's adroit financing. It was the Outrageous eX-
ploitaton Of the miserable Egyptian laborers. Tho
poor fellaheen were driven from their homes to work
In gangs upon the canal, without wages and under
the lash of The taskmaser The Suez Canal was made
with forced labor. OF the three men who shared The
spoil nlched from European investors or wrling from
the bood OF the fellahecn, one, lsmails FINANCE
Mpister, Said Pacha, poisoned by his master :
ling was seized by Isnail. only minute share being
allotted to sad's family. said Pacha was known IN
Capel Court and Oh the Paris lOurse as bold ana
fortunate speculator lie was heard OF one day III
Cafel Court tclegiaphlng his agents regarding deal
fngs; two days afterward as ordered up the Mic
by Ismail and the next day as dead MS estate bc
Ing coniiscated Ismall's turn has come since then'
Himself the sultan's prisoner at Stamboul. allowed
limited and guarded communication with the 'outsd'
world. the Sultan Is slowly making him disgorge "hat
riches he Has LETT
NJ De Lcsseps has lived to an honorcd old age
and troops Of FRIENDS. His suave manners ana ms
hcartiness even In old age often disarmed hostile
bpiuion. lie was seventy VIXEN he went Into me
Panama affair. but was crafty then as ever. iivr
on. visn his wits became DINNER he may nave D'rt
the catspaw of his acccmplIce, Rcinacn b, but
throughout his life he has been man 81 thr ec9,'
lievlng every man and most women 70 have their
price. He is cousin 10 the cX-E Empress EuecIhc
and belonged to the De MOrny clique in the last
Empire.
without discussing the justice and proprcty Of the
above sketch OF NJ. de Lc,sepss conduct in the sncz
Canal affair 1t be said that he was attacked in the
French press In regard 10 his administration 0i the
Panama Canal society. before his Indictment by
@the highest and bestinformed financial circles OF
London" rs reported by the cable Dispatch The tone
Of the two attacks Is nearly similar. a Paris paper,
addressing ". &c LesseIs In yirulcnt apstrophe,
said. among other things " You had bought all the
stock OF dust which the knights Of mercenary press
keep In their cellars TO throw 1t n'o the eyes Of stupid
greenhorns and Of romantic investors; and you knew
that in the world o. honorable men, well as In the
Parliament sufficient number Of consccncs Is always
10 te sold hired TO cut M isthGlus. In this mud
which you stirred, TO make of 1t. you have lost
your footing. pity you SIR who 80 loaded with
years, glory and family, that you thus sink In view
Of the last port, and are driven the benches of the
Correctional ni.unal like simple fraudulent notary
In add 1 on 10 th"-e attacns. which may be proved
without foundation a the coming great trial for there
always two SIDES 70 "A storyt be Interesting
10 QnO.e the WOrdEg OF the indictment auncbet by
the French Prosecutor General against DE Lesseps.
his SON Charles d. Loscps. Maiius Fontanes. Henri
Cotu and EfeI, lie builder OF The famous tower In
York was naturally the first to receive the official
text which SAYS that the accused persons are charged
with Having cnnjOni and within less than three
years, while executing fraudulent manoeuvres 10
create belief ia fhe existence OF chimera ana Of
an imaginsE cred dssipaed sums Of money coming
from emissions dsues Of sto~k). which had been
lntrised to them FIR particular use and layirg
svndled peouI, oi OF the whoe or portion OF iher
fortune" This warrant was served on November
20. and the traI you,d lave opened five DAYS later.
but was postponed as reported by the cabi'