Benjamin Disraeli Beaconsfield27 November 1875
Purchases 40% Suez canal Company shares from the Khedive with a 4 million pound Rothschild bank loan
Great Britain · Government / Conservative Party Government. Chronological records rendered directly from the World History Database.
Purchases 40% Suez canal Company shares from the Khedive with a 4 million pound Rothschild bank loan
External debts forced Said Pashas successor, Ismail Pasha, to sell his countrys share in the canal for £4,000,000 (about pounds 85.9 million in 2014) to the United Kingdom in 1875, but French shareholders still held the majority.
Prime Minister Benjamin Disraeli was accused by William Ewart Gladstone of undermining Britain's constitutional system, because he had not referred to, or obtained consent from Parliament when purchasing the shares with funding from the Rothschilds.
The Convention of Constantinople declares the Suez Canal a neutral zone under the protection of the British, who had occupied Egypt and Sudan at the request of Khedive Tewfiq to suppress the Urabi Revolt against his rule
The Canal owners, Compagnie universelle du canal maritime de Suez, held a secret meeting between Israel, France & Britain at Sevres, outside Paris
Meets President Eisenhower at Bermuda & reaffirms the freedom of the Suez Canal
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