HIS HIGHNESS ISMAIL PASHA. (Froma photograph byElliott & Fry.)

nothing,but is alone exclusively responsible for one-fifth of her liabilities. Ismail, it is true, inherited great estates,andpurchased others. Themembersof his family also habituallyacquired land in the same way;but the public works on which the money was so lavishly spent wereby nomeans confined to the localitiesin whichthe Khedivial properties were situated, but benefited more or less the wholeof Egypt. Ismailexpropriated noone, nor didhe take any man's land without payment. The parallel of Naboth's vineyardis hardly a just one. The reproach is a still harder one for Ismail to bear now, whenallhis possessions, alongwith those of his family, have been surrendered as the guarantee for two public greatest blunder of all was to entrust to foreigners like Nubar Pashathe governmentof the country in the very teeth of a growingnationalsentiment, in a greatmeasure of his ow-n creating. "Mr. Wallace holdsIsmailto be mainly answerablefor the misfortunes of these latter days. Iam inclined to think he casts the blameupon the wrong shoulders. He tellsus thatIsmail createdthe national debt, but he forgets how much of the borrowed moneymiscarriedbefore itreached Egypt; and to what extent it was spent in public works,*includingtheSuez Canal,whichpaysEgypt * Injustice to the late ruler of Egypt wemay here quote from Mr. McCoan's impartial pamphlet "The Egyptian Problem" the following summary of the vast sums which the Khedive Ismail caused to be expendedin colossal public works, thereby greatly contributing to the well-beingof the country:— Of the public works thus constructed, the Suez Canal (including the Sweet Water Canal and therepurchase of the Wady domain) cost the Egyptian Treasury in money, outlay, and interest £17,427,S25, or, deducting the shares sold to theBritish Government, roundly £13,430,000 ;8,400 miles of canals at anaverage of £1,500 amile, £1°,',GOO,000; 426 bridgesat anaverageof £4,000 each,plus£140,000, the 'cost of the splendid iron bridge across theNile from Bonlak to (ihizeh, £1,844,000 ;971miles of equipped railway, at £13,000 a mile, £12,523,000 ;5,000 miles of telegraphs, £853,000 ; lighthouses on the lied Sea and the Mediterranean, £188,000 ;harbour and dock works at Alexandria and Suez,£3,942,000 ;Alexandria waterworks, £300,000 ;64 sugarfactories, £6,100,000 ;oratotalof £51,780,000, loans. If the fellahs paid more taxes in his time, their interests were certainly more efficientlyprotected than at present. Vigilantand constant care as to irrigationmade thembetterable to bearthe greaterburden then thanthe lesserburdennow. Thecollectionof taxesafter, orat the time of, the harvest was far more suited to the character against £49,779,000, the net produce of all the loans contracted during 1862-79. It is thus demonstrated that, however wasteful much of the outlaymay have been, £2,000,000 more than the whole net amount borrowed was so spent out of revenue, which also bore the burden of the Abyssinian war aud of Kubar's underground diplomacy at Stamboul and elsewhere.

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