The Washington herald., 1908-05-17
THE LONDON TIMES AND EGYPTS CONQUEST

OF the London Times toward the mastery
of Egypt by Great Britain. 1t was the
Times which brought about the dispatch
OF the mission to Egypt Of the Right
Hon. Stephen Cave, for the purpose Of
investigating the finances OF the Egyptian
government. less than two months after
ward Khedive Ismail. who was IN need
Of a loan. had Ike the present Sultan
OF Turkey in analogous cases, intimated
his readiness to intrust the introduction
OF reforms Ia the finances OF his cOun4
try 10 officials nominated for the pur-
pose by the British and French govern
ments. but 10 be paid BY himself In
stead OF this, Cave was sent out by the
English foreign Office with a large staff,
to make thorough investigation and
full report upon the Egyptian financial
situation. And this was the origin OF
the foreign financial Intervention which
wos to assume such extensive develop
ment as 10 eventually culminate Ia the
present control Of Egypt by England.
Mr.. caves commission Of investigation
was followed by number Of other mis-
sions OF the same character
The further investigation proceeded, the
blacker the situation appeared from
financial point OF view. Tie Egyptian
debt amounted 10 close upon half a bill
Hon dollars, of which not more than
about 20 per cent had ever found Its way
into the state treasury. Most OF this
debt was held abroad. particularly in
France and Germany and as great pow
ers often find in the menace OF injury
10 the interests OF their citizens holding
foreign bonds a pretext g0r invasion and
seizure Of territory belonging TO the
debtor government there was, from an
English point Of view. considerable dan
ger that either Germany or France
might avail themselves Of the delay or
suspension In payment Of the coupons
OF Egyptian bonds 10 swoop down upon
the Land Of the Nile, by way OF exact
ing satisfaction for the claims OF their
e0untrymeH.
It was BY perpetually, at the same time
cautiously, impressing a sense Of this
danger OF some other power establishing
herself in Egypt that the London Times
virtually compelled the British statesmen
to play more and more active part IN
the kheoiYal finance, this, Of course, en-
failing. as is always the case, interven-
tion in the internal administration Of the
Egyptian government. OF course. Ismail
Pasha was averse 10 the measures IN
sugurated for the purpose OF curbing his
extravaganza ana has authority, but was
plainly told by the Times that unless he
yielded, his deposition would follow, by
way OF penalty fer the ruin into which
he had plunged his country. He was, by
these means. led to consent 10 the crea-
tion of an international commission OF
the debt 10 represent at Cairo the in
terests Of the bondholders. and the MEN,
beTs OF which were appointed By the
French, German, Austrian, and Italian
governments, Englands delegate being
Lord Cromer. then Mai. Evelyn Barring.
OF the royal artillery Then Ismail was
obliged to turn over nearly the whole OF
his vast private estates. embracing over
5000 acres Of the best land. to a CON-
mission Of management. composed OF
foreigners appointed BY the English and
French governments, as security for a
loan Of $50o00.o00, granted by the Roths-
ehilds.