THE BEGINNING OF A NEW ERA. 129 by rendering this power subject to the authority of \ an independent tribunaLj How this clause was made use of later on, to bring about Ismail's deposition, I shall have to relate in its proper place. But I may as well mention here an incident which bears on the subject.

Shortly after the International courts had begun to function, the late Mr. John Horatio Lloyd, so wdl known as a high legal authority and as the inventor of Lloyd's bonds, came out to Egypt to act as adviser to the contractors for the Alexandrian breakwater, who were desirous of coming to some definite settlement of their claims against the Egyptian Government. In the course of his interviews with the Khedive, his Highness asked hito as a favour to look at the clause of the code to which I have referred, d to give an opinion as to its practical bearing. yAfter studying the code, Mr. Lloyd reported to the Khedive thar ponder the clause any foreign" creditor might obtain judgment, certainly, against / the Government, and probably against himself as Khedive, and might call upon the executive to[ enforce the judgment by levying execution on any seizable property belonging either to the State or to / the Sovereign. Upon hearing this, Ismail displayed \ the most intense indignation, whether real or simulated, j declared he had been betrayed and deceived, and said that sooner than have signed acceptance of the code, if he had understood its real bearing, he would have cut off his right hand. When Mr. Lloyd told me K