402 THE STORY OF THE KHEDIVATE.

AI. de Lesseps or upon the Company of which he was the founder. They caused surveys and estimates to be made, and ascertained that it would be possible to construct a second canal of greater width and depth, running through the desert of Sinai, parallel to the existing Canal, for about one-quarter of the cost of the present Canal. They then applied to the Khedive, and offered, if he would give them a concession for a new canal, to make a contract under which Egypt would be entitled to a large share — I believe 25 to 30 per cent. — of the profits. His Highness received the proposal favourably, and would, I believe, have granted the concession on his own authority, if he could have been certain of the consent of the British Government. The promoters assured him, with some reason, that the British shipping community was extremely irritated at this period at the heavy charges and vexatious regulations imposed on British vessels by the French officials of the Company, and that the construction of a rival canal would be very popular with British shipowners, and would be gladly supported by British capitalists.

As to the moral rights or wrongs of the question at issue, there is a good deal to be said on both sides, though there can, I think, be no doubt about the fact that the concession given the Suez Canal Company conferred upon it the right to construct a canal across the desert, but contained no undertaking whatever that a similar concession should not be given to any rival Company. It may be urged that no prudent