/ / < 184 THE STORY OF THE KHEDIVATE.

this deviation from their normal courses was not due to his own action. pThe receipts from the provinces, whose collection was still entirely in the hands of native officials, begun to fall off with suspicious uniformity just about the time when the Commission begun its labours. As soon as it became manifest that the Commissioners proposed to inquire into the causes which had led to the insolvency of Egypt before they entered on the consideration of the measures required for the restoration of her solvency, the Khedive announced that the funds were not forthcoming to meet the half-yearly interest of the Unified Debt, which was shortly falling due.

His Highness proposed in effect to meet this sum by the sale of some portion of his private estates ; but this proposal was declined by the Commission, on the ground that the true financial position of Egypt, its assets as well as its liabilities, must be thoroughly investigated and ascertained before any fresh liabilities could be contracted. The most probable explanation of Ismail's policy was that he imagined the influence of the foreign bondholders would be exercised to compel the Commission to reverse the course of their inquiry, and to postpone the consideration of the causes of Egypt's insolvency to the examination of the resources immediately available to meet the service of the Public Debt.

Contrary to his expectations, the French Government declined to interfere with the course adopted by the Commission, and contented itself with declaring