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= III. =
= III. =


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Signed: De Martino
Signed: De Martino
= IV. =
The Royal Agent and Consul General in Egypt to the Minister of Foreign Affairs
(Il R. Agente e Console Generale in Egitto al Ministro degli Affari Esteri)
Mr. Minister,
With my third current report, I had the honor of informing Your Excellency that an important operation on the railways, which would be leased for a fixed number of years, had begun to be negotiated.
The Khedive is convinced that Egypt cannot withstand the weight of the floating debt, because of the excessive interest that it pays, and is determined to make any sacrifice to extinguish it. On these truths, by now there is nothing to discuss; the financial downturns of Turkey have accelerated the necessity of a provision of the utmost urgency.
Two financial groups have presented themselves, the first led by Mr. Pastré who represents the French membership, and the second led by Mr. Elliot who represents the English membership.
The purchase of the shares of the isthmus, made by the English government at a time in which the question of the East became complicated, the offer to arrange a new deal for 15% of the income of that canal,