Documenti diplomatici concernenti gli affari di Egitto: Entry #27 Original title: Original Camera del Deputati - Part 1, pg. 1-38 27.jpeg Protection: Open to all Expiration: Never Status: In progress Mark this revision as complete Cancel Documenti diplomatici concernenti gli affari di Egitto: Entry #27 Go full screenExit full screen Layout Reset In a conversation that I had with the Khedive on the 8th, he confided to me that Mr. Elliot could not be able to give him even the 2 million pounds sterling that he had asked from each of the two groups, as long as it was a big operation. And indeed the English capitalists refused to give money until the result of the mission of Mr. Cave was known, and the Khedive had urged that the report from this gentleman would be published as soon as possible. The Khedive told me that he was left with the project of Mr. Pastré, the French group, and those of Mr. Cave. Mr. Elliot was not in fact supported by Mr. Cave, but he had presented his plans, one with the amortization of the unified debt in 14 years, the other in 50 years with the guarantee of the railways, ports and telegraphs, and the guarantee of the irremovability of the English official in charge of the administration of the finances of the State. The Khedive, although with me he did not discuss the question under the financial point of view, could not hide from me his great concern and hesitation between the burdensome conditions of the French group and the administrative needs of Mr. Cave. I restricted myself from repeating to His Highness the advice, already many times indicated to him, to avoid in every way from falling under exclusive authority, which would compromise and ruin that position that Egypt must seriously think about acquiring and that freedom of action which could greatly influence, in the future of the country, the events that a prudent government must foresee. I am now very happy to be able to announce that the loyal suggestions from Italy have had a great weight on the Khedive’s mind. Not seeing another way of dealing with the “Anglo-Egyptian” French group, the Khedive, in order to obtain the best conditions, called Mr. Pastré. He communicated to him his conditions and also presented him with the alternative, either to accept them, or else he would accept Mr. Cave’s project. Mr. Pastré, after having obtained the increase of the interest to 9% and a commission, accepted the conditions. I will not now speak about the particulars of the project, because I fear misrepresenting them because of my little practice in financial matters. I will say only that the project, while private in nature, embraces a loan of 18 million pounds sterling to pay the floating debt, at 9% interest and amortization in 10 years, and the establishment of a national Bank with treasury services and 4 million pounds sterling in capital, being designated the “Anglo-Egpytian” at its establishment. Being the main goal, it has been achieved that neither the railways, nor ports, nor telegraphs, nor this Bank itself fall into the hands of a foreign government; those administrations rest in the hands of the Egyptian government. Certainly this evening the contract will be signed, and tomorrow Mr. Pastré will leave for Paris. May it please you, etc. Signed: G. De Martino