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landed property may prevail in the differ- on to escape being devoured. In France ent nations of Europe, it is an incontest- we have seen interests fall upon the railable truth that Europe will more and ways, and under pretence of getting their more have its granaries beyond its bound-produce carried cheaply, try to destroy all aries. Where shall we place them? With the help of France, and by means of the highway of the Suez Canal, England can place them in India.

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It is not possible to foresee the extent of the extraordinarily favorable changes in the current of business in England, in the position of the banks, in the abundance of capital, and in the rate of interest, which would be the consequence of an importation of wheat arriving in Europe from India instead of America. If in the course of one year -an epoch of which a glimpse may be caught before the end of the century: we witnessed a change running through the currents of trade which should bring about a displacement of twenty millions sterling, only transferred from the commerce of America to that of India, we should see the happiest conse quences issue from it, to the profit of England and the advantage of France. France, with its habit of using, and liking for silver,-identical with the habit and liking of India, having a monetary currency which can form the reservoir of the Indian currency, is reciprocally in the best situation, thanks to the Suez Canal, to develop Anglo-Indian or Indo-Euro pean commerce in rice or in corn. The Suez Canal has created a community of interests between France and England, interests moral, commercial, and social, which must always be considered and appreciated at their full value, which ought to be extended, and which must never be sacrificed to a paroxysm of egotism, or speculation, or even simply of bad temper.

that France had spent so many years in establishing, viz., the administration of a network of railways, which has been little by little organized and extended, without causing any crisis in the circulation of capital, but giving a considerable impulse to the industry and commerce of the nation. Those very persons who did the most to excite the cupidity of private interests have been brought to acknowledge that they had let loose a wild beast without keeping further watch on it. Frenchmen ask whether the excitement which has arisen in the matter of the Suez Canal, extraordinary as it seems to simple spectators, had not some analogy with the movement and agitation about the question of the French railways which filled five sterile years with their useless fury and impolitic distrust. The comparison has not failed to suggest to men's minds the probable issue of a discussion which will pass through many phases, but which, no one doubts, will end as the dispute between the assailants and the defenders of the railway companies ended in France. Is it intended to oust M. de Lesseps from the legitimate fruits of his labors, in order to give English commerce the advantage of taxing itself at a low rate in the transit of its vessels through the Suez Canal? That is exactly the question that was asked in France. Were the railway companies to be pillaged of the legitimate fruits of their efforts, and to be ejected in order to give to those who gained the power of transporting their produce the right to fix the tariff? If the question had continued to be stated in these terms, the result would have been to tie with our own hands a Gordian knot which could not be unravelled except by the sword. Could it be supposed that the sword, that violence, that the English sword, that is to say, English violence, - would cut an intricacy of right and commerce, at the risk of simultaneously wounding with that blade not only France, but that which is greater than France, eternal justice?

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The phases of the discussion between the English government and M. de Lesseps are very instructive. They possess a degree of animation that has surprised public opinion in France. The question is asked, whether the name of France, which casts so brilliant a light over the canal company, was not in some respects aimed at by the shortsighted adversaries of the grand doctrine of the Anglo-French alliance. Why should so much frenzy be It has often been observed that men do displayed in a question where frenzy is for others what they would not care to do unnecessary, save to secure the triumph for themselves, and that they act as interof right and justice? A great French-mediaries or agents with less scruple than man, M. Thiers, said that interests are ferocious; and another great statesman, a great Englishman, said that public opinion was sometimes like a wild beast, which the government should keep an eye

on their own account. England cannot present such a spectacle. That which she would not do herseif she cannot do under an assumed name; and if she has the right to dispose of the khedive's sig.

of the canal, if the traffic render it necessary; just as she required the French railway companies to double their lines when it became necessary, in order to satisfy the demands of commerce.

It is true that in France, and even in the Parliament, certain persons demanded that the doubling the lines should be effected by competition, and even by competition on the part of the State, and that a new railway should be constructed and worked by the side of the existing road; but this idea was very quickly abandoned; first, because it was not equitable, and, secondly, because it could not possibly be profitable. It has been found more practicable, much more in conformity with general interests, and at the same time more respectful towards vested rights, to come to an agreement with the railway companies, in order to oblige them to give the traffic that satisfaction which its development demanded.

nature, she will not put it to any acts by procuration, save upon the same terms upon which she would have given her own signature. There is but one way out of the entanglement; namely, to follow the paths of justice and reason. England is the most important of M. de Lesseps' partners in the enterprise of the canal; she ought to seek out and determine equitably the share which legitimately belongs to her in the administration of the business. A share in the joint control cannot be refused to a government who is a shareholder to such an extent. But we know that the power of the members in general council is not measured by the number of votes; there is a moral influence which depends upon the weight of the speaker. There are always two influential voices at the councils of the Suez Canal Company; first, that of M. de Lesseps, a French voice, which France is pleased to know is listened to, and which cannot be stifled without wronging and In the Isthmus of Suez, the question is wounding the country which saw his birth. much more simple. There may not be a But there is also the voice of England, rep-monopoly in, writing, but there is, neverresented by eminent men, who not only are theless, a natural monopoly. How can it always heard with deference, but whose be imagined that the object of the conces. counsels meet with attention, because they | sion was any other than to put the two are the representatives of a great govern- seas in communication? The founders ment, and because they exercise their rights with an authority that no one contests. The legitimate influence of England in the administration of the Suez Canal will consequently always receive due consideration.

But if England is the most important of the partners, she is also the most important of the clients, as she makes use of the canal in a much greater proportion than all the rest of the world together. That is a reason for her watching over the company in order to be sure that it treats its clients with moderation; but it certainly is not one for obtaining from the company special treatment for her own countrymen. France, whose vessels are much less numerous, does not attach any less importance than England to the point that the conditions of transit should be easy, and that the tariffs should be as low as possible. From this point of view there cannot be any divergence between English and French interests. It is a general question, and if it fall to the French government to solve it, it will do so with as much independence, and with as much regard for maritime commerce, as would the English government itself. France, quite as much as England, is interested in the traffic being satisfied. She demands, like England, the doubling

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could not be expected to run the risks of such an enterprise without yielding them a right to take tolls from those who pass from one sea to the other. To deprive them subsequently of the product of these tolls by supporting a rival scheme, and by joining the two seas in some other way, would be to withdraw with one hand what has been given with the other. Perhaps several canals may be possible; but the idea of establishing communication be tween the two seas is a simple one, and it is exactly that which M. de Lesseps has maintained from the first, notwithstanding the doubts of the English engineers, and which he has at last realized at the cost of a considerable outlay of capital.

It is this idea alone that was the object of the enterprise, and the tolls, the charge on passengers, and the transit tariff conceded to M. de Lesseps, were its price. Without violating the laws of justice, it is impossible to hand over to others the profits which would not have existed if M. de Lesseps had not formulated his idea, if after conceiving it he had not given it a body, - profits which belong to it, profits of which it certainly can be despoiled by force because force can do everything, but which cannot be taken away save by the commission of deeds absolutely contrary to that high sense of right which

England has had the glory to spread throughout the world. Only a few days ago, a French orator, speaking from the senatorial tribune of the French republic, quoted these memorable words of the English historian and philosopher, David Hume: "Our fleets, our budget, our army, Parliament, all these are only to assure a single end, the liberty of the twelve great judges of England.'

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not less real, of lightening the charges which weigh upon its maritime commerce in consequence of the dues of the Suez Canal, and that is to take and to apply to its budget a portion of the nett profits of the company. The English government already makes a profit in interest on the capital invested in the purchase of the one hundred and seventy-six thousand shares of which it has become the holder; it receives five per cent. interest on a capital for which it only pays three per cent., every year gaining the difference. That is, in reality, a sort of reduction of the transit dues in favor of the English people. When the deferred coupons of the shares which it holds are available, its profit will be much increased. If it sees fit, it will be able, by means of that profit, to reduce those imposts which press upon commerce.

I will add, that if England holds in the world the dominant position which legitimately belongs to her on the surface of the globe, if she is respected and feared, if she is dreaded and honored, if she has allies willing to advance with her in the path of civilization, and to give her their support without fear as without jealousy, but with a noble feeling of confidence, it is because England, freely governed by a conscientious public opinion, knows how to place right above might, and has learnt But all these questions are matters of to provide herself with institutions which detail in which France and England have are a mixture of monarchism and repub- an equal interest; they may give rise to licanism, whereof the mainspring, accord-discussions more or less prolonged, but ing to Montesquieu, should be honor and virtue.

The respect for contracts is the foundation of parlimentary governments, and the English Parliament can do everything but make an injustice legitimate. If the English government, as a partner in and as a patron of the most numerous clients of the enterprise, can demand that every extension rendered necessary by the traffic should be given to the means of communication between the two seas, it is its duty equally to introduce into the tariffs every amendment compatible with the maintenance of the financial position of the company. It is also quite right in demanding a revision of tariffs which were established in view of an infinitely smaller traffic than that which has been attained during the last few years. The most simple method which has been found of proportioning the tariffs to the business, is the participation by the clients in the profits of which they are themselves the source. Assurance companies and co-operative societies have largely adopted this course, and we might follow them. Nothing is more natural than to make a scale of reductions of tariffs so as to apply a portion of the profits realized to the benefit of the vessels which traverse the canal. Arrangements of this nature are very simple, and quite legitimate, and provided that they are established with moderation they cannot be otherwise than acceptable. For England especially there is another method, indirect it is true, but

they have nothing to do with politics. There is but one political aspect of the matter; it is the maintenance of a company which, French by origin, is English as much as French in its interests, and which has the right to be treated conformably with justice. A day will come when it will be possible on both sides of the Channel to judge with greater calmness the political situation of the two nations, as regards the affairs of Egypt. When that day arrives, whatever direction events may meanwhile have taken, there will without doubt be perfect accord as to the inconveniences consequent upon the suppression of Anglo-French action in Egypt. History never remakes what it has once destroyed; certainly we shall never again see the condominium, the dual control, nor any of those combinations which have had their use, but which are condemned to-day, and which it is difficult to defend, because they have one great defect· that is, that they are dead and cannot be revived. But what we shall see again is an accord between the views of France and those of England as to the affairs of Egypt, and in the arrangement of all questions concerning the Suez Canal. England has need of the moral support of France. There is more sympathy possible between the Egyptian people and the French than between the former and the Anglo-Saxon race.

This moral influence the French can exercise in the civil administration, in industry, and in commerce, and exercise

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it to the advantage of all Europe. The English pony in a little village cart with influence of the English government will a little retinue of "bowl dowgs " disportlose nothing thereby; and if some day ing beneath. But he owned that even England finds it useful to modify her this occupation did not redeem his counaction, she will be happy to find at her try life from weariness and ennui. side France with her perpetual influence in Egypt, by reason of the traditions of her history and the devotion of the colony of that nation to the interests of Egypt, so as to be able to seek in common the solution most favorable to the main tenance of Western influence in the East, and to the development of the amicable relations between two great powers, who sometimes in the press utter very hard words of each other, but who speedily return to sentiments of cordial friendship and sincere alliance as soon as they have regained, together with their sang-froid, a clear view of their moral, political, and commercial interests. LEON SAY.

From All The Year Round.
ALONG THE SILVER STREAK.

PART IV.

tom prescribed that he should visit his estates as soon as the grand prix had been run; but a fortnight on his estate generally gave him a surfeit of the country. And yet he felt that it ought not to be so. The pure, tranquil life of the country he appreciated, and would be willing to share with a congenial spirit. Ah, if he could find such a one! Some young English girl, perhaps — he had a peculiar tendresse for the English girl. She must be beautiful, rich, accomplished, and at the same time tender and loving to a degree to put a man out of his senses; and, above all, she must never have loved before.

The count confided these sentiments to us men, as we smoked after dinner on the lawn beneath a pure, deep, star-lit sky. Our director pronounced these ideas to be impracticable. He too confessed that in his own youth he had dreamt of marrying some young English mees, fair THE director and his wife, and we as as an angel, and of a wealth to enable their friends, were received with the him to follow his cherished pursuits withgreatest possible cordiality by M. de St. out ignoble cares. But the event had Pol, who insisted upon taking us all to falsified his anticipations. He had indeed dinner at his château close by, an im- encountered more than one mees with mense building that seemed half deserted, wonderful personal charms, but always with great iron gates, and ferns growing with nothing or next to nothing in the out of the interstices of the brickwork; way of dot. Others had been pointed and with great gardens and conservato- out to him undoubtedly rich, but with bad ries not absolutely neglected, but showing complexions or otherwise not correspondalmost the wildness of nature. But the parts inhabited were very scrupulously kept and charmingly cool, with shining, polished floors, and everything studiously arranged in careless ease.

ing to the ideal belle Anglaise. And as for the first bloom of the affections, he had it on the authority of the greatest English novelists that the little mees began her love-affairs before she had given up her doll, say at twelve years old, or perhaps even earlier.

"Ma foi, vive Valognes pour le rôti!" cries the marquis in Lesage's comedy of Turcaret; an exclamation we might very There was just enough truth in this well have echoed looking to the excellent last assertion to make both Tom and mydinner provided by M. de St. Pol. The self a little angry with the director, and count was Anglophile in everything, even the count artfully took our side, though it in the cuisine. As a delicate compliment was easy to see that he was trying to to Hilda, no doubt, was the "côtelette pump Master Tom a little on the subject d'agneau à la belle Anglaise," and equally of his cousin Hilda. For De St. Pol was for the squire's benefit, no doubt, the enthusiastic on the subject of English gosberi pie au John Bowl." The same marriages arranged on a basis of pure spirit pervaded the whole establishment. affection, and of the virtue and fidelity of The horses were English, and English the English demoiselle, who, not content also the stud-groom. English "bowl dowgs" snuffed about the legs of visitors, and infused a terror speedily allayed by their pleasing affability. Our friend's chief delight in his country life, it presently appeared, was to drive a fast-trotting

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like the average French girl with the husband presented to her by her parents, will live a celibate life for years till she meets with a fitting object for her virginal devotion.

"How's that?" cried Tom doubtfully,

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Justine," I said in a low voice, “you will take a little note from me to mademoiselle. a little note of two lines that she may read it before she sleeps?

looking at me as if I were the umpire in | approached, and began to examine the the match. But just at this moment, sav-border of her apron in a manner suggesing us from further discussion, came the tive of coquettish confusion. sound of a piano from the salon, and the clear, rich voice of Hilda singing some English ballad; so we rose and left the director in possession of the field, in possession, too, of the battery of liqueur bottles, of which every now and then he mixed and tasted a dose, on principles of science and hygiene.

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But Justine, perhaps resenting a little that she should be considered only as a channel of communication with her mistress, received my overtures in a temper quite unexpected.

"I, monsieur!" she cried, her eyes flashing fire, "I carry billets to my mistress, who is confided to me by your countryman, to whom she is bound by vows almost sacred! Never, monsieur!" And with that Justine darted off, her nose contemptuously in the air.

And then another window opened on the opposite side of the courtyard, and madame la directrice appeared, wrapped

The count was in his right as host to hang about the piano as he did, asking first for one song and then another, but it was irritating to see that Hilda received all his attentions very graciously, turning upon him all the full powers of her lovely dark eyes, and throwing herself into the exchange of compliments and badinage with light-hearted appreciation. There was nothing in her now suggesting the love-lorn damsel! Surely both Mrs. Murch and Justine must have been com- in a white peignoir, and combing back her pletely deceived as to her having any long hair. Then she leant upon the winafter-thoughts or regrets! Once or twice, dow-sill, looking up at the stars, and sighed indeed, I found her eyes resting upon me gently. Presently, her eyes attracted by with a grave kind of scrutiny; but for the glowing tip of my cigar, she acknowlthe rest, she so persistently evaded all edged my presence gracefully. Yes, it my attempts to gain a word with her, that was a heavenly night, a night on which in vexation I began to devote myself one would like to fly about like the moths. exclusively to madame la directrice- -a "Stéphanie!" at this moment cried the devotion that was not ill-rewarded, for be- manly voice of the director, who appeared neath the little artificialities of the French-in his shirt-sleeves with a shawl in his woman there was evidence of a charming, candid soul, full of sympathy and appreciation for all phases of human life.

Madame, too, sang very feelingly, although not with Hilda's power and execution. It was my turn now to hang over the piano and beg for songs, and I was delighted to see a flash of anger and scorn in Hilda's dark eyes. Yet still she was engrossed with the count, and it was impossible for anybody else to come near her. It was just the same, too, as we drove home through the pleasant per fumed night, the bean-flowers filling the air with sweetness, and the more subtle scent of the roses clinging to everything. Not a word could I get with Hilda, who retired to her room at once on reaching the hotel.

hands, "Stéphanie, my child, be careful of thy throat." And he wrapped her up with quite parental solicitude.

And then there was a new arrival, which brought the landlord to the door in a discontented spirit. Indeed, the appearance of the new-comers, although highly picturesque, was hardly reassuring to the strictly commercial appreciation of an innkeeper. First of all came two men, brown and dusty, with great leathern wallets over their shoulders, and ragged garments, adjusted with a certain careless grace. In the rear marched a couple of Pyrenean sheep with long curly horns and long curly brown wool, with an air rather as if they were driving the men than being driven by them, while absolutely last was a pretty, gipsy-looking girl of thirteen or And then, as I walked up and down so, in a short skirt, with bare brown legs the courtyard, I watched the light shining and feet, and a tambourine thrown over in her window- a light that brought out her shoulders. The men wanted a lodginto faint relief the old gateway and towing for the night-a stable or something er, while the quaint outlines of the twin of the kind-for themselves and their spires of the church rose dark against companions. the sky. Justine, her light labors finished for the day, was standing in the doorway below, humming to herself her favorite "Sur le bord de l'eau." She ceased as I

The landlord looked at them suspi ciously.

"Three francs," he said, holding out his palm for the money.

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