HTML

XVII.

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,

The day before yesterday the Khedive said to me that Mr. Outrey had announced to him that he had received a telegram from Duke Decazes, who, affiliating himself with His Highness’ idea, gladly supported to designate the commissioner in the new national Bank, who would be named by the Egyptian government, but he wanted to know which responsibilities and powers were reserved to these commissioners, letting him clearly understand that his government wanted that these powers would be principally conferred with the goal of guaranteeing the deposit of the income of the State to the treasury of the national bank and with the goal of blocking unforseen costs. Having asked for advice regarding this, Commander Scialoja reaffirmed to His Highness the necessity of knowing exactly the content of the request. And because His Highness had said to Mr. Outrey that he would have given him a response in writing, Commander Scialoja advised that he ask that Mr. Outrey express his request in writing. The Khedive immediately sent his minister to ask for it. Mr. Outrey did not make him wait for it and I have attached a copy of it (Appendix A). It will be the Viceroy who will confer the powers to the commissioners, and the French government requests that these powers be able to make their security and their control effective. Since the statutes of the Bank are not yet established, the Khedive could not, until now, explicitly indicate those powers; but, having made him understand that the only definition of the responsibilities of the commissioners would not be enough to inspire that trust that is necessary for the success of the loan, Commander Scialoja persuaded the Khedive to take on the responsibility of starting an administrative, financial reform that ensures the execution of the commitments taken, for the deposit of the income and for the regularity of the spending. The honorable senator, following a long and interesting conversation, was able to defeat every hesitation. Having clearly established things, the response to Mr. Outrey does not present any difficulty. It was immediately sent, and that evening the Khedive sent me a copy of it (Appendix B). The Viceroy tasked the honorable Senator Scialoja with making plans for the reforms that he believes are necessary. May it please you, etc.

Signed: De Martino