What is, I think, not generally known, at any rate in Egypt, is that the agreement to purchase the Khedive's share for four millions sterling was made not by the English Government collectively, for Lord Derby was averse to it, but on the personal responsibility of the Prime Minister who, without consulting his colleagues other than Lord Derby, they being absent from London, arranged with the London house of Rothschild to advance the money.
What may have been in Disraeli's mind politically about it I do not know, but I am very sure that Lord Derby, who was then at the Foreign Office, had no idea connected with it of political aggression. Lord Derby was a man whose view of foreign policy was essentially one of non-intervention, nor had Disraeli as yet succeeded in indoctrinating his party with his own imperialistic ideas.
The transaction, nevertheless, was one of evil augury for Egypt, and especially by reason of the part played in it by the Rothschilds. As will be seen later, the financial connection of this too powerful Hebrew house with Egypt was the determining cause, six years later, of England's military intervention.3
Mr. Cave's mission, which followed immediately on the purchase of the Canal shares, was without any question Ismaïl's doing also. The object in Ismaïl's mind, as is perfectly clear, when he asked for it, was still further to work the new mine of English political assistance he had discovered, with a view to further loans.
He wanted to get some public testimonial, in the shape of a published report, in favour of his continued solvency, and so to re-open to him the European stock exchanges. It was for this purpose that he applied to Colonel Staunton for an English inquiry, and to a large extent he succeeded in his plan.