The Daily News. SATURDAY, JUNE 3, 1905. A MASTER STROKE OF POLICY.

Taranaki Daily News, Volume XLVII, Issue 7839, 3 June 1905, Page 2

The Daily News. SATURDAY, JUNE 3, 1905. A MASTER STROKE OF POLICY.

It is now many years since the world was somewhat startled by the news thul the British Government had purchased for four and a half millions steiling tho Kkedive's shares ii) the Suez Canal. At the time the announcement was construed in curious ways by the Continental l'owe:s, and Lord Beaconslieid's policy was criticised \juite as much at Home, as abrouid. What, howe\ei', was not known was the modus operandi by which the famous transaction wa.) brought about. It its now known that the deal eventuated through tho patriotic services of a celebrated journalist—Mr James greenwood, exeditor of the l'ull Mall Gazette, whose loresighl has been amply rewarded by the trend of events in the years that have since passed by. At a dinner givep 'in his honour, )Air Gtecnwood revealed how the knowledge iViat the shares held by the Khedive of Egypt had reached him just, at a tiuio when the ilritish Government had been trying unsuccessfully to improve tho terms on which r.ri'tish merchants used the can.»,!, for it must be remombered that 81 per cent, of the tonnage passing through the canal at that time was British,, and the heavy dues enforced went into French hands. At lirs-t Lord Derby, the Foreign Minister, could not be brought to believe that the journalist possessed information! which the Consul-General on the spot evidently (lid not posses;. In fact, tho Minister said that iL was impossible such a transaction as the Khedive's shares being about to chango hands Could go on in a place likei Cairo without the Consul-General being aware of it. Mr Greenwood assured the Minister that the information was Correct, the result being that a telegram was despatched to Colonel Staunton as follows :—''Go to the Khedive immediately and ask him whether jl is true that he is 'negotiating for the sale of his Suez Canal j-haies—yes or no—and''don't come away ' witholit an answer." This produc.d a reply in the affirmative, his verifying Mr Greenwood's news. The crucial point now arose as to: 'what steps were to be taken in order to secure tho shares. If Parliament were consulted and asked for the four millions required to 'buy tho shares, in Lortl IJeijbjy's'phiiisjj, ",thc gatT would be blown," and therd wou'id be no end of a racket in tho House off Commons. But Mr Greenwood stuck to his point, and converted lirst Lord Derby and then Disraeli to his view. The Khedive's shares were bought for four and' a) half millions, and tp-flay they arc worth thirty millions, and bring l ijf a million a year to the British (j.overnment. It was an excellent commercial bargain, as well as a masterstroke of po\ljcy, Mr Greenwood aeolined all oilers,of personal reward at tile hands of the GovenmiUßt. Ikeven declined ihe privilege of announcing the transaction in his pa pur a' da} before it was publish'::] in the rest ol the papers, Bun>!y independence and conscientiousness could noj fuilher go ! Since then many events have happened in Egypt,, but none which caused such a profound stir as when the news was sprung on thf world that these shares had beeit acquired by Great Britain, The immense value of the canal as a highway of commerce has increased your by year. Tho occupation of Egypt bJI a British force has at length been -tacitly accepted by France, and thereby British interests have |fjbea greatly etrougUicniai, As pai l oiva-

era of this invaluable waterway I [Great Britain has a voice in its management and protection that could) I not juSily, lxi obtained an any othen J way. The transaction nfloi'tls another illustration of the good service that may be done by the foresight of journalists, and adds another to th.< long list of notable evuit; which ! have been brought about through the medium of the wielders of the pen. OX THE FOURTH PAGE. Commercial. Divine Services. Visitors' Lists.