Germany and Russia are trying hard to force the English
hand in Egypt, and have demanded seats and votes in the Office of the Debt. Their object, of course, is to strengthen the representa- tion of the Bondholders, and at the same time to warn England that unless she takes another line in Egypt the country will pass under international control. Nubar Pasha replies that the organisation of the office is settled by the Law of Liquidation, and that he cannot alter it without the consent of all Powers interested. That answer is not considered sufficient; and, indeed, as he set the law aside three months ago by suspending the Sinking Fund, it can hardly be defended as complete. The two Powers, therefore, renew their request, and Nubar threatens to increase all existing complications by resigning. As there are already four members of the Caisse, and as the payment of the Debt would at once extinguish that body, we scarcely see how England is concerned in resisting the demand. The Bond- holders will be no stronger, and England will hardly be out- numbered more completely than she is. The more the cooks who meddle, the sooner the necessity will be recognised for a responsible cook.
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