Annual Summaries from the Times Volume 2

Annual Summaries from the Times Volume 2

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This historic book may have numerous typos and missing text. Purchasers can usually download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1893 edition. Excerpt: an extravagant expenditure on the Upper Nile, the extent of which Ministers themselves are at present afraid to contemplate-for the vote of 1,000,000, obtained in the autumn session, is obviously a mere contribution "on account"--the position of ascendency in Lower Egypt secured for England by the labours and sacrifices of the war against Arabi has been brought into peril, or at least into question, by the financial diffliculty. Early in the year it was made evident to the British Government that, owing in part to accumulated deficits and to the expense of the war in the Soudan, but chiefly to the indemnities for the losses caused by the Alexandria riots, the Egyptian Treasury must either make default or obtain a suspension of the Law of Liquidation. Lord Granville invited the European Powers to a Conference to discuss this alleged necessity and to consider the demand for a relaxation of the terms by which Egypt was bound. Unfortunately, it was thought expedient to purchase the goodwill of France by the promise, subject to the acceptance of the English financial proposals, of concessions amounting to a surrender of English ascendancy in Egypt. The "Anglo-French Agreement " stipulated for the withdrawal of the British troops at a fixed date, unless Europe should insist on their remaining, for the adoption of a scheme to constitute the Khedive's dominions "an African Belgium," and for the strengthening of the powers of the Caisse de la Dette Publique so as to establish in fact, if not in form, an "International Control." The Conference met, but the English financial proposals, involving a reduction all round on the interest payable to the creditors of Egypt, were opposed by more

Product details

  • Paperback
  • 189 x 246 x 11mm | 363g
  • United States
  • English
  • black & white illustrations
  • 1236887794
  • 9781236887795