The Suez Canal.

Manawatu Herald, 7 June 1892, Page 2

The Suez Canal.

»~ Forty years ago M. Ferdinand de Lesseps brought sorward a scheme for making a water way between the Mediterranean and the tfed Seas. Since then what a change has come over the traffic between England, India and the Australasian colonies ! In 1858 a company was fornied to carry out the work, and after many difficulties had been met and overcome, the canal was opened for traffic in 1869. The first year's receipts were only £255,488! and the prospects did not look particularly bright until the British Government made the bold stroke and purchased over four million pounds worth of shares from the Khedive in 1875. In that year the gross receipts were £1,204,387. Both the Conservatives and Liberals value the possession of the canal, Mr Gladstone having stated in 1881. that the country had gained £4,700, 000 from the canal. The importance of the Suez canal for the British trade is eonspicuious by the fact that in 1890, 8,425 vessels of 6,789,187 tons (nett) passed through it, of which 77 per cent were English ; 5J per cent German, and 5 per cent French. The latest gross receipts we can find recorded is that for 1888 which with 3,444 vessels, amounted to £2,680,000. The company now propose to reduce the charges about five pence a ton, or a reduction in revenue of some £141, 000! With all the earnest desire on the part of the British Government to benefit the condition of the "fellahs" of Egypt, the main reason for their keeping a force of troops and a hold upon the administration of the country, is to guard the all important canal —all important until the Nicaragua canal is in working order. With the part that British energy takes in providing traffic upon which tolls are leviable, it appears but right that the control of the Canal should be in their hands.