The Three per Cent. Egyptian Loan of 29,000,000 has been
brought out at 944. A portion was offered in Germany and a portion in France; but immediately on its being brought out here the price went up to 3 premium. This was made a reproach against the Government by Mr. Labon- chore, but Sir Michael Hicks-Beach replied that though he was quite willing to admit that better terms might have been obtained if Egypt had been quite free, yet time pressed; it was not possible even as it was to get the approval of the Parliaments of the Continental Powers for the loan issued ; and it was desirable that Egypt should even lose something by issuing the loan a little below what it might have been possible
to get, with the consent of the European Governments con- cerned, than to stand out for terms which would have caused great delay, to the great injury of Egypt. Lord Hartington entirely exonerated the Government from any imputation of improper motive in issuing the loan on the terms on which it had been issued, and the conversation on the subject ended in the House rejecting Mr. Labouchere's amendment without a division.
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