I02 THE STORY OF THE KHEDIVATE.

"This intelligence was conveyed to London, with a strong recommendation from Colonel Stanton that the British Government should buy the shares. The recommendation, if I am rightly informed, was accompanied by an expression of opinion that the advance of ;4,ooo,ooo would relieve the Khedive from any pressing financial embarrassment, and that, if made at all, it must be made at once, on the ground that as soon as the French Ministry learnt that the purchase of the shares in question was contemplated in England, they would close with the proposal which was still under their consideration.

Fortunately for England, she had at this period as head of the State the one Prime Minister, with the possible exception of Lord Palmerston, who, during the Victorian era, showed himself capable, in case of necessity, of disregarding official traditions and acting with the prompt vigour by which our merchants and our traders have created, not only their own fortunes, but those of the British Empire. There has been much controversy between various personages connected with Egypt as to whom the credit should be assigned of having originated the idea of forestalling France by the purchase of the Suez Canal shares. !l think myself that the chief, if not the sole, credit attaching to the transaction should be assigned to Benjamin Disraeli, who was then, for the first time in his chequered career, not only Prime Minister, but Vjthe Prime Minister of an united party, supported by a powerful majority . in the country as well as in