POWER OF THE PRESS.

Evening Star, Issue 9123, 2 May 1893, Page 4

POWER OF THE PRESS.

In the last number of the ' Review* of Reviews' is an exceedingly interesting article from the pen of Mr Stead, who sketches the history of the 'Pall Mall Gazette' and tells for the first time many characteristic anecdotes of 'the men who successively ruled the destinies of that paper. It is not generally known that the credit of the purchase of the Khedive's canal shares, which paved the, way to the British occupation of Egypt, and the deportation of Indian troops to Cyprus-—generally credited to Lord Beaconsfield—were actually suggested to the. English Premier by Mr F. Greenwood, then editor of the 'Gazette.' Thus writes Mr Stead in regard to the purchase of Ismail's interest in the Suez Canal: —"lt was Mr Greenwood who saved the Suez Canal for England. He heard of it by the purest chance. He was dining at a club when Mr Oppenheim told him that the Khedive was about to sell his shares in the canal to the French, or to representatives of the French interests. Mr Greenwood made inquiries, which satisfied him that Mr Oppenheim was well informed. He at once went to Lord Derby, and informed him that unless lie took prompt action the canal would practically become a piece of French territory. Lord Derby was astonished. Our representative at Cairo had left the Home Government entirely in the dark on the subject. Lord Derby, however, promised to telegraph and inquire. A few hours later, when Mr Greenwood called again on the Foreign Secretary, the news was confirmed. What was to be done? Mr Greenwood did not hesitate a moment; the shares must be secured for England. M r Disraeli concurred. Lord Rothschild supplied the four millions, and the public wore startled before the week was out by the announcement that the Khedive had parted with his shares to England, and that the English Government were now possessed of proprietary rights in the Suez Canal. It was a bold stroke, which met with almost universal approval. Mr Gladstone shook his head, Sir William Mareourt stormed, but the Liberal Press as well as the Conservative energetically supported the initiative of Mr Greenwood.