PARIS. Bond for £20=F500. purple. #150143. No 46247. Ismail greatly modernised Egypt, with a more European administration and appearance for its major cities, strove against the slave trade in Sudan, expanded Egypt's territory in Africa, and inaugurated the Suez Canal for international navigation. However, during his reign, Egypt's debts increased greatly, which led to the involvement of England and France in Egypt's affairs to protect their substantial interests. Ismail's own personal debts (including this bond) were very high also, weakening his own position. This issue of over £7.000.000 in personal bonds was secured on 150.000 feddans of his land, together with the free revenues of all his private estates. The land was planted with sugar-cane, giving a minimum of 1.500.000 quintals of raw sugar. Ismail was forced to abdicate in 1879, and died in 1895.
Themes: CITY & STATE BONDS
Startprice: € 200