He acquiesced in the purchase of the Suez Canal shares, a measure then considered dangerous by many people, but ultimately most successful; he accepted the Andrassy Note, but declined to accede to the Berlin Memorandum.
In other words, Egypt was burdened with a debt of 91,000,000 funded or floatingfor which she had no return, for even from the Suez Canal she derived no revenue, owing to the sale of the khedives shares.
These charges included the services of the Privileged and Unified debts, the tribute to Turkey and the interest on the Suez Canal shares held by Great Britain, but excluded the interest on the Daira and Domains loans, expected to be defrayed by the revenues from the estates on which those loans were secured.
Port Said, which in consequence of its position at the northern entrance of the Suez Canal has more frequent and regular communication with Europe, is increasing in importance and is the port where mails and passengers are landed.
One of the consequences of the persecutions of which he was the object was to oblige him to spend three years, from 1896 to 1899, in England, where his participation in the management of the Suez Canal had won for him some strong friendships, and where he was able to see the great respect in which the memory and name of his father were held by Englishmen.
In 1866 primitive structures were discovered in the island of Therasia by quarrymen extracting pozzolana for the Suez Canal works; and when this discovery was followed up in 1870, on the neighbouring Santorin (Thera), by representatives of the French School at Athens, much pottery of a class now known immedi ately to precede the typical late Aegean ware, and many stone and metal objects, were found and dated by the geologist Fouque, somewhat arbitrarily, to 2000 B.C., by consideration of the superincumbent eruptive stratum.
South of the town are the harbours and quays constructed on the western side of the Suez Canal at the point where the canal enters the gulf.
The news that the khedive's Suez Canal shares had been bought by the government was received with boundless applause.
The opening of the Suez Canal in 1869, followed by the establishment of direct steam communication between Spain and the Philippines, sounded the death knell of the peaceful outside the city, but were unsuccessful.
The necessities of the khedive of Egypt B had been only temporarily relieved by the sale to gyp. Lord Beaconsfields government of the Suez Canal shares.