In the lending and some of its debtors were tasked with repaying what they owed, and the prices of securities were taken.

Until the market collapsed in June, the public rushed to liquidation, and people's confidence in the future of Egypt turned against it, and fear and caution took its place. Some of the major banks closed their vaults, refused to lend, and renewing credit became very difficult. Banks began to import gold to strengthen their positions at a time when the custom was for gold to be exported. Demands intensified on the Discount and Savings Bank, a bank known for its connections to speculators, forcing it to close its doors and suspend payments. The import trade was shaken due to the abundance of speculation and financial distrust, leading to a backlog of goods in warehouses. The government was forced to suspend payments, and many companies that relied on issuing checks faced difficulties. The tightening of transactions led to agricultural distress, increasing anxiety among people for fear of a shortage of money in the harvest season for the purchase of cotton, which the farmer relies on to pay taxes, land rent, and debts.

However, the severity of the crisis did not last long, as people realized that the reaction that was bound to occur in speculation and trade did not affect the stability of Egyptian trade and finance. The rise in prices that occurred in recent years was accompanied by real prosperity, and investors rushed to buy Egyptian securities after their decline, and they rushed to buy them, which raised their prices. The Egyptian National Bank formed a syndicate to help the Discount and Savings Bank reopen its doors and pay those who had deposited their money until its assets were liquidated. The import trade was freed from obstacles by reducing demand, selling existing goods, and tightening transactions, but this did not happen without loss. Export houses spent the three months of the agricultural season preparing their accounts in anticipation of what they considered to be an unprecedented abundance and quality.

However, the increased need for money in Europe and America in the harvest season led to the prolongation of the financial crisis in Egypt, after the major local difficulties began to subside. The country entered a second phase of hardship that caused great confusion for individuals, but it did not affect farmers, nor did it affect government finances. The cotton crop was sold systematically and with great economy, which brought in capital and was exported at prices higher than last year's prices. Farmers paid their taxes on time. Tobacco imports increased, which is one of the signs that can be taken as an indication of people's prosperity, and revenues increased.