A correspondent of the Times gives an ominous account of
the way in which the private fortune of the Khedive and the public fortune of Egypt are intermingled. The Khedive has bought and inherited land until he owns one-fifth of the whole country. This estate is called the " Daira," or Administration of his Highness, and is loaded with a debt of £15,000,000. It might, with good management, bear this, though the property at present is hardly worth so much ; but the Khedive has given away rather more than half his lands to his sons and daughters. There are now, there- fore, two " Dairas," the " Daira della sua Altezza " and the " Daira della Famiglia," and 'the Government has already endorsed £3,000,000 Daira Bonds." It is affirmed, moreover, that the Khedive's estates enjoy either a total exemption from taxation, or great advantages over those of other proprietors. On the other hand, the immediate pressure of the floating debt of Egypt has been relieved by a loan of £2,000,000, which is to be supplemented by a larger supply, if the public will subscribe.
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