What is even more astonishing is the rise in land values in the cities, especially Cairo and Alexandria. The following facts speak for themselves and need no further elaboration. Land on which the British Agency was built was purchased about seven years ago for twenty Egyptian piasters per meter. Recently, a meter of land in its immediate vicinity was sold for twenty Egyptian pounds. I am informed that several sales have taken place in districts closer to the city center for prices exceeding 50 Egyptian pounds per meter, and in exceptional cases, even 130 Egyptian pounds per meter. Similar examples can be cited for Alexandria.

The natural consequence of this was that low-income earners were forced to live in the outskirts. The government was compelled to build some houses and rent them to its employees. However, land values in the outskirts have also risen considerably. I will not offer an opinion on whether current prices will remain stable, but it is undoubtedly true that much of the land in the outskirts was purchased for speculative purposes.

I will take this opportunity to make some observations regarding employees, especially the English, who speculate, whether in land or other assets. It is not difficult to see that many of them have profited greatly. Whether laws should be enacted on this matter is debatable. The situation here is very similar to gambling in "lotteries." Everyone knows that this latter form of gambling is harmful, yet no one has yet been able to devise a satisfactory way to curb it. Everyone also knows that government employees should not speculate. However, it is almost impossible to enact laws that prohibit speculation while allowing legitimate financial transactions. Therefore, the idea of enacting specific laws has been abandoned. In practice, there should not be great difficulty in this matter, as each individual's conscience should easily guide them to know whether, as a government employee, they are permitted to engage in private financial dealings. If doubt arises, they should consult their superiors.

The English employees in Egypt find themselves in a society where many have reaped considerable profits in recent years. They may (and perhaps their thinking is naturally tinged with some bitterness) believe that most of this wealth stems from their hard work and effort. Yet, they do not share in the benefits that others have enjoyed. On the contrary, they see their modest salaries remaining unchanged, while the cost of living has increased significantly in all aspects. They then look around and find an easy means before them to increase their income, and their souls are tempted to follow suit.