The daily worker. [volume] (Chicago, Ill.) 1924-1958, 1930-04-07
By P. CHI. Cairo

THE return of Egypt to the Parliamentary
system of government, which in fact is moth
ing but more or less bad democratic facade
for the actual dictatorship of the British High
Commissioner and his Egyptian hirelings, syn
chronizes with the sharpening of the latest
economic crisis, the high point of which has
not yet been reached. The effects of this
crisis are at present already so disastrous, that
its further inevitable accentuation is bound to
lead to a complete collapse of Egyptian econ
omy.
This development of Egypt'ss economic policy
is in the first place the result of the policy of
British imperialism which is deliberately work.
ing to undermine all independent economic
political activity of Egypt and which leaves no
stone unturned in order to render the economic
forces of Egypt serviceabe to it's lust for
power. If now Macdonald, with an imposing
gesture, presents Egypt with the Anglo-Egypt-
ian Treaty, it is solely in order to prepare the
way for an even more brutal economic plumber
ing of the country.
The English imperialist press is already dis
cussing the new path which is now to be pur
sued. 1t recommends the granting of large
longter credits to Egypt. This is no new
path, but the REPETITION of those methods made
use of by British imperialism in the time of
DIsraeli, who established the British power in
Egypt Just as D'Israeli made use of the diff
ficult financial situation in order not only, by
purchasing the Suez Canal shares for million
pounds, to secure domination over the Canal by
England but also by further loans to secure
control of Egyptian finances in order then sys-
tematically, step by step, to destroy its indie
pendence, precisely in the same way the social
imperialist Macdonald is endeavoring, by grant
ing huge credits, to chain Egypt, which is
striving for its national independence, econo-
mically to British imperialism. The only posi-
tive result of the conclusion of the Anglo
Egyptian Treaty will be the complete subjuga-
ton of Egyptian economy to the interests of
British Imperialism. That is the purchase price
for the sham democracy which has now been
set up by the Watt Cabinet under the leadership
of Nahas Pasha.
The chief cause of the Egyptian economic
crisis is the ever declining purchasing power
of the population, which has already led to
purchasing strike lasting a month, and resulted
in numerous bankruptcies. This constantly de-
cining purchasing power has casual connec
ton with the difficulties which have existed
for years for the export of Egyptian cotton,
which are attributable, on the one hond, to the
ever more successful competition of Sudan cot
ton and, on the other hand, to the international
crisis of cotton production The actions carried
out by the government in the last few years in
support of the cotton industry have not been
able to do away with the difficulties on the
Egyptian cotton market The Egyptian pea
SAINT is waiting in vain for payment of the
cotton delivered by him to the exporters. and
which now lies stored up in the Egyptian docks
and harbors. He therefore increases the prices
Of the other products produced by him for the
market. These products are, in the first place,
articles of food for the toiling Egyptian popu-
lation. The result is constantly increasing
cost of living, which as it is not compensated
for by increased wages and salaries, will lead
to further deterioration of the standard of
living.
At the same time one must bear. in mind the
tremendous low level of wages, which is far
below the existence minimum not only for the
native workers and employees, but for European
workers and employees who have settled in
Egypt
At the present moment public interest in
Egypt is concentrated on the new customs
tariff which is being prepared by the govern