Chapter Two On Finance "3" Financial Situation The financial summary at the end of last year is taken from the Financial Advisor's memorandum on the budget for 1911.

The year 1910 concluded, and the future looked better than in previous years. The cotton crop was satisfactory compared to recent years, even if the average yield per feddan did not reach the levels of some earlier years. It is estimated that the crop will reach 750,000 qintars, and at current prices, its value will be much higher than that of any other recent season.

It has been proven that those who despaired of the difficult situation last year were indeed overly pessimistic. However, we are still far from achieving the desired state in terms of cotton cultivation. We are still seeking the reasons that made the 1909 season so poor and improved the 1910 season in comparison. It is likely that the effective measures taken by the government to combat cotton blight, the advice given to farmers not to over-irrigate, the delayed flood, and favorable autumn weather conditions all contributed to an improved season.

However, there remains an unknown factor that influenced the seasons of these two years. Therefore, it is necessary to continue researching the various factors affecting cotton cultivation—a research that the government has diligently undertaken and must continue with the same vigor and effectiveness. A special Department of Agriculture has been established, with a director-general possessing extensive knowledge on the subject. This department has been staffed with officials who were previously in the Khedivial Agricultural Society, considered reliable assistants and inspectors. A budget has been allocated for it, and its scope and timeline will be determined. Time and experience will reveal where it should expand to best serve the country.

It is hoped that this new department will gradually lead to the improvement of the agricultural situation.