SECOND STAGE OF INTERVENTION. 163 validity of the Goschenjoubert settlement in EuropearP opinion.

Again, public confidence abroad was impaired byH .

the discovery that the figures upon which the Goschen-Joubert composition had been based were, in many \ cases, utterly unreliable. For instance, the gross annual / receipts of the State railways were given as ;900,ooo.

As* soon as the administration of the railways passed into the hands of an European board, it was discovered that though ;90o,ooo were credited as receipts, the real sum received was only ;6oo,c)00, and that the balance of ;30o,ooo was solely a matter of account based upon charges made for special trains for the Khedive, his family, and his friends, and for trains employed in conveying troops or transporting government goods. Before the interest payable in respect of the public debt fell due in June, 1877, was ascertained that the deficit between the estimated an( the actual receipts of the revenues set apart for the\ service of the Unified and Privileged Debt, amounted' to ;8 20,000 for the former, and ;2oo,ooo for the latter. The discovery and the publication of these shortages was undoubtedly due to the vigilance and courage with which their ill-defined duties were discharged by the European, and especially by the English, officials whom Ismail had introduced into the public service. His intention had been that they should serve as figure heads. As they were nominated' ,by him, and as their salaries were paid by him, he had some right — judging from his experience of the