The British Government, finding that a sum of £8,000,000 is
indispensably necessary to the solvency of Egypt, and that it cannot be raised without a modification of the Law of Liquida- tion, have invited the fourteen Powers interested in that law to a Conference. It is believed that they will propose to suspend the Sinking Fund, and to reduce the expenditure on the Egyptian Army ; but no details are known yet. We have ex- plained elsewhere the necessity for this measure, from the point of view adopted by the Government in Egyptwhich is not our own—but would here advise our readers
to receive with deep distrust the angry animadversions of the French Press. Upon questions like the Egyptian Debt, that Press in great measure represents neither the Government nor the parties of France., but only certain financial alliances which are endeavouring to secure a British guarantee for Egyptian Bonds. Those alliances, doubtless, also influence M. Ferry ; but the French Premier understands perfectly well that nothing will be gained for French interests by dissociating France from Europe as against England. He will not leave France in a position of isolation, or compel the Egyptian Government to declare the Law of Liquidation inconsistent with its existence.
