The Life and Times of Queen Victoria; vol. 4 of 4Wilson, Robert
History
The Life and Times of Queen Victoria; vol. 4 of 4
Wilson, Robert
Great Britain -- History -- Victoria, 1837-1901; Victoria, Queen of Great Britain, 1819-1901
energies of the Army by offering a money reward to the first detachment
which reached Debbeh, and that by the first week of January, 1885,
Lord Wolseley would have about 7,000 men at Ambukol, of whom, perhaps,
2,000 might be ready to dash across the desert to Shendy, from whence
the decisive blow at the Mahdi must be struck--beyond these facts
and conjectures nothing was known. Dim rumours of Gordon’s futile
sorties, of his feeling of disgust at being abandoned, and tidings
that could not be doubted of the wreck of the steamer in which he had
sent his gallant lieutenant, Colonel Stewart, and the British Consul
at Khartoum, Mr. Frank Power, down to Berber, filled the minds of the
people with the deepest anxiety. Gordon had sent Stewart to Berber with
instructions to appeal to private munificence in the United States and
British Colonies for funds with which to organise the relief expedition
which he had ceased to beg from England. Stewart and his companions
were murdered by natives after their steamer was wrecked. Hence the
journals and diaries which Stewart carried were conveyed to the Mahdi,
who, finding from them that Gordon was in dire straits, pressed the
siege with redoubled energy.
After the failure of the Conference to adjust the financial
difficulties of Egypt, England “regained her freedom of action.”
Lord Northbrook, as we have seen, was sent to Cairo to report on the
situation, which in reality was a very simple one. Egypt could not
pay the annual interest on her debt, and the Foreign Powers would
not, in the interests of the bondholders, submit to have it reduced
unless better security were given for the principal. The only course
open, therefore, was either repudiation, or the acknowledgment of
British responsibility for the financial administration of Egypt,
which would have enabled Mr. Gladstone to have cut down, not only the
bondholders’ interest, but also the taxes extorted from the Egyptian
people. Lord Northbrook’s appointment was caustically criticised by
the Tory Opposition, who connected his family name of Baring with a
mission undertaken in financial interests. His mission thus did much to
destroy the confidence of the populace in the Government, and when he
returned, his recommendations, so far as they could be discussed, still
further discredited Mr. Gladstone’s Government. For Lord Northbrook had
discovered a third course open to him in Egypt. It was to leave the
interest of Shylock untouched, but to meet the deficit in the Egyptian
Budget, caused by the payment of Shylock’s bond, by transferring from
Egypt to England the burden of supporting the Army of Occupation.[194]
As for the existing emergency, Lord Northbrook suggested temporary
repudiation, and his suggestion was adopted. The Law of Liquidation
was suspended, and the creditors of Egypt were asked to be satisfied
with less than their due, till matters could be set right. The
Queen’s Government early in December attempted to meet the financial
Public-domain text, read in full here on John Shaqi.
Reviews
Reviews
No reviews yet
Be the first to share your thoughts on this work.
Elsewhere in the archive
Join the Discussion
Join the discussion
Sign in to leave a comment or review.
Sign InorCreate an account