PURCHASE OF THE KHEDIVE'S SHARES IN THE SUEZ CANAL.

Globe, Volume V, Issue 528, 26 February 1876, Page 3

PURCHASE OF THE KHEDIVE'S SHARES IN THE SUEZ CANAL.

The New Zealand Times quotes the following passage from the correspondence of the Glasgow Herald, with reference to the true history of the purchase of the Khedive's ■hares in the Sue? Canal. Writing on November 29th, the correspondent says:— M At the very commencement of «the present month, information from a private source reached tha editor of the Pall Mall Gazette that the Khedive's shares were about to be placed upon the market. The valne of their acquisition by this country at once fastened itself upon the editor's mind, and on the 3rd November appeared the remarkable article which attracted so much attention at home and abroad, urging upon public attention the Stake this country had in Egypt and its indeSendence of any other Power but our own. Tot satisfied with this, the editor next sought an interview with Lord Derby, in which he placed before tte Foreign Secretary more clearly than any of his paid agents had done the real financial condition and necessities of the Viceroy, the opportunities offered by a Bold stroke of policy, and the readiness of the Viceroy to accept the money of Britain whilst awaiting her tutelage. Lord Derby walked up and down the room as the editor adduvjed reason and evidence in Bupport of his views. His Lordship pointed out the difficulties of such a course, and strongly leant upon the opposition which the scheme would probably meet with in the Cabinet. In conclusion, however, he requested the editor of the Pall Mall to draw up a memorandum embodying the facts and views he had verbally expressed, and promised to lay the same before the Cabinet at its meeting on the morrow. When the matter came to be discussed, Mr Disraeli at once discovered the importance of the suggestion, aud cordially adopted the views expressed in the memorandum ; and, after some obstacles raised by other members were overcome, the course of conduct recommended by the editor of the Pall Mall Gazette was adopted, with what results the world now knows. A letter was addressed to him by Lord Derby, thanking him most warmly for his suggestions. It is right to add one striking and significant fact in these days of mammon worship and speculation. Although a depository of Ihe important state secret for days, if not weeks, before it was announced to the world, and though consequently in a position to make thousands of pounds in a way which most people look upon, if not as honorable, at least as permissible, I am in a position to say that the editor of the Pall Mall Gazette never made the slightest use of his knowledge, nor either directly or indirectly was tempted to dabble in Egyptian stock. It is with a jnsi pride that journalists will speak and think oi conduct such as this."