The Pacific commercial advertiser. [volume] (Honolulu, Hawaiian Islands) 1885-1921, 1906-03-18

Patients Who Never Die
and Who Never
Get Well.

canal, and the Nile country is still
weighted down with the crushing bur-
den Of debt fastened upon it by that
great enterprise. The growing of hun
cry dogs over a bone is polite argu-
ment compared to the dispute that
came up between the powers when
the land of the Pharaohs was forced
into insolvency.
We sneer at the Chinese for their
abnormal suspicion of each other. find
ing much humor in the story about the
nine members of a firm who secured
the company's funds in a safe fastened
by as many locks but the distrust of
the Oriental partners was exaggerated
q hUndredfold when the European
holders scrambled for seats on
the lid of Egypt's strong box. The
patient was bed-ridden with financial
cramp, but the volunteer nurses were
afraid to trust each other alone with
the sufferer over night for fear the
bed-clothes and furniture would be
missing in the morning.
JOHN BULL TO THE RESCUE.
Among the first on the scene was our
old friend, John Bull, Esquire, who
makes a speciality of mixing in any
kind of land deal for what he can get
out of it, and who is really an expert
in resusoitating faint and exhausted
governments. Seeing that someone
had to administer to stricken Egypt,
it was dollars to doughnuts that the
rotund Doctor John would get the job, |
even if he had to force his services |
on the needy-which he promptly did. |
When this willing physician to sore |
and languishing nations takes a case |
by his peculiar method of insistence, |
he ir, nlr tn IN
just enough signs of Improvement to
offer encouragement, but the worst of |
it is that he never quite RECEIVERS.
Great Britain's colonial hospital is full
of convalescents, but complete cure
is never effected. Furthermore, the
possessions of the sufferer are gradual
ly diverted to the maintenance of the
large and competent corps of British
experts who devote their lives to his
case. I think no one will take excep-
ton to the statement that sick gov
eminent that once becomes patient
of England never dies and never gets
well.
EGYPT TOOK FINANCIAL CRAMP.
Now for the cause of Egypts indis-
position When Ferdinand de Lesseps.
that magnetic but disappointing
Frenchman, was youthful attache at
the French Consulate in Cairo, he be-
came impressed with the possibility of
winning fame AMI fortune by building
a ship canal from the Mediterranean
TO the Red Sea. He pondered on the
for twenty years and when he 9
finally attempted it. easily secured a :
from Said Pasha, who was 8
in power at that time. 1t is not sur
prising that the Oriental was induced !;
to favor the project because, accord
H. eli
sed much for Egypt At this time the .
Nile country had no debt at all, and
t was proposed that the construction
IF the canal should be accomplished
without costing it a penny. 1t was FUR -
her agreed that fifteen per cent of the -
ross revenue should be turned over :;
o the Khedive's treasury, and that
fter ninety-nine years the big ditch -
vas to become the property of the s
egyptian government. 6
This was indeed fair prospect, but &
! the end it cost Egypt dear. From the 6
rst the financial world looked askanee &
t the bold plan of the Frenchman, &
nd would take no stock in it. In or Z
er to launch the enterprise and IN z
ure con ffdence in it, Said Pasha sub Z
eribed for seventeen million dollars or q
ne stock He died soon after work s
as commenced. and was succeeded by
small. that prince of spenders, who, 8
, order to be more liberal than his 3
-edecessor bought twenty million dol &
rs worth of shares. This sum was g
ION exhausted. and funds being OBJ 4
Unable from no other quarter, the &
,yvptian treasury was tapped again s
I'd again. until the great undertaking &
laIlv cost the struggling farmers of 6
IL Nile the round sum of eighty-hve q
illion dollars. In addition to this q
tst outlay of cash, many Egyptian =
borers lost their lives while working 3
the expensive trench. :
LEFT OUT IN THE COLD. 3
But isn't the canal a paying propo- &
ton? 1t pays very handsomely in Z
ed but Egypt (who practically paid Z
r IT'D doesn't own a dollar of the =
ock and derives not a penny of direct .
come from it. When the project .
AS preached English capitalists :
,uld have nothing to do with it. be-
use they fancied it would menace 8
cir eastern interests by giving Great g
itain's rivals shortcut to India. G
e financiers of European powers. &
king their cue from England. We're {,
aid to subscribe to the stock but 9
were willing to loan money and s,
re a mortgage on Egypt. When the 3
N of this indebtedness had become .
great that interests could not be Z
ID, they jointly swooped down upon =
sorely tried country. =
although England bitterly opposed 3
idea of the new waterway. and x
everything within her power to q
went its construction, the final set &
nent revealed that she held fully &
f of the outstanding bonds. as well :,
a voting majority of the canal 3
ck This latter was secured from &
lail at a low price when he was in Z
h sad straits, and is today worth 3
r times what its owners paid for .
Egypt's right to receive fifteen per =
t of the income was also squeezed =
Nv from her by the creditors, and