A meeting of the Egyptian Bondholders was summoned on Tuesday
last to the City Terminus Hotel, to receive from Mr. Goschen an account of his exertions in their behalf, and to decide whether they would continue their confidence in him. Of course, there could be no doubt entertained of the answer they would return on the latter point. They must regard themselves as ex- ceedingly fortunate to have induced one so competent, so influ- ential, and so above all suspicion to take charge of their interests; and accordingly, like sensible men, they entrusted the busineas- entirely to Mr. Goschen, and requested him to visit Egypt on their behalf. From the statement which Mr. Goschen made, it appears that the consolidation decree has not been cancelled, aa was stated a couple of weeks ago. No change, in fact, has yet- been made by the Government, nor does Mr. Goschen think that anything effectual could have been done until the competence of the International tribunals has been authoritatively declare& That is now in a fair way of being done. In the meantime, Mr_ Goschen seems to have come to an understanding with the French Bondholders, and be has gone out to Egypt on the invitation of the Khedive himself. Mr. Goschen does not appear to be very sanguine, and he would be unfit for his work if he were sanguine. Our own fear is that he may suffer, though he would suffer un- justly, from associating his name with a task in which he has no power to command success. After all, everything must depend on the integrity of a ruler who probably does not share our notions. of commercial morality, and who, even if he does, has not been trained in at all a good school for helping him to do right under a great temptation to do wrong.
Previous page
