Persian Empire 1845

Chapter 522 Cairo

Egypt, a vital participant in world civilization, holds many mysteries waiting to be explored and deciphered. It was once the breadbasket of the Roman Empire and a vibrant part of the Ottoman Empire, but now it is one of its weakest.

Muhammad Ali implemented comprehensive reforms in Egypt, encompassing military, economic, political, and cultural aspects. Simultaneously, Ali also pursued a series of expansionist policies in North Africa and West Asia to strengthen his own power.

However, Egypt's vitality was short-lived, as its endless internal strife with Turkey exhausted its resources. Foreign powers, taking advantage of the Turkish-Egyptian conflict, entered the country under the guise of "aid" and "mediation." In 1840, Egypt, which had originally relied on France, was forced to sign the Treaty of Alexandria under the threat of British cannons. Although Turkey remained Egypt's nominal master thereafter, it was effectively under British control, ultimately becoming a British colony.

The current Khedive Ismail Pasha initiated internal reforms on a scale comparable to those of his grandfather, reforming the tariff system and postal service, stimulating commerce, establishing a sugar industry, and constructing a royal palace. He also greatly developed Cairo, building a completely new city at the western end of Cairo modeled after Paris, and improved the port of Alexandria.

He also recognized the crucial role Egypt's location played in the construction of the Suez Canal. Upon ascending the throne, he refused to recognize the consensus reached between his predecessor, Seyed I, and the Suez Canal Company, which not only permitted the construction and operation of the canal but also granted Egypt certain rights to the land on both banks.

While these factors objectively propelled modernization, they also led to Egypt's massive debt. Estimates suggest that Egypt's foreign debt reached £1100 million; it's unclear how he and the Ottoman Emperor managed to spend it all.

"This is a small token of the Shah's appreciation; please don't find it offensive."

Ismail Pasha looked at the HSBC bank draft, then at the Iranian envoy. He wondered what the other party's intentions were in spending £50 on him.

"Thank you for your country's kindness. Shah is indeed very wealthy, giving away 50 pounds in one go."

"Haha, the Shah is indeed wealthy. But he's also willing to help everyone make money together. I wonder if you'd be interested?"

That's a lie; who doesn't like making money? It's said that the tribes of the Arabian Peninsula have already started indulging in extravagant lifestyles.

Of course, while I also enjoy some of the benefits, my primary goal is to build Egypt into a strong nation and achieve independence from the Ottoman Empire in the future. However, recent events have revealed that I overestimated Egypt's finances.

Since Egypt's industry was destroyed by Europe, its fiscal revenue has had to rely on land rent and other taxes again. Meanwhile, investment in Egypt's water systems has decreased and they have fallen into disrepair, plunging the people back into misery.

Seeking Ottoman help... forget it, the Ottoman seemed to need assistance more than Egypt. After 1858, his authority was further undermined. He didn't even bother to reclaim Mecca after it was lost; in his eyes, the Sultan was nothing but a piece of trash.

After much thought, the only country I can truly call a brother is Iran. Although we have some differences in faith, those can be changed.

Moreover, there has never been a brother this wealthy. According to Egyptian businessmen doing business in other countries, Iranians are respected in all nations. Unlike the Ottomans, they are not discriminated against, but receive genuine, equal respect.

It wasn't just Iranian businessmen, but also Iranian students and other Iranians who went to Europe for various reasons. They had gained equal treatment from Britain and France after the wars against Russia and the Ottomans, but why did Egypt, which also fought against the Ottomans, suffer a unified attack from Britain and France? Ali Pasha couldn't understand it, and neither could his descendants.

"The Shah always admired your grandfather, Ali Pasha, for his extraordinary vision and courage in propelling Egypt to power in those times. He would surely have become a world leader one day." This wasn't entirely wrong, as Ali's reforms were undeniably effective. However, he became somewhat arrogant, and then… and then that was it.

"That's all in the past. Now, all I need to do is let my grandfather know about my efforts. But you didn't come here just for a chat, did you?"

The other person laughed. "As expected of Pasha, you should know about the situation in Mecca. If... Egypt were to face a similar situation in the future, what would you do?"

If he were to relinquish political power and become a high-ranking nobleman in Iran, he could do so, but could his subordinates do the same?

The Ali dynasty's rule was based on landowners, some of whom were former Mamluks, and others were new landowners who rose in status through war and received rewards. Decades later, these new landowners also became conservatives.

They have no interest in a world undergoing drastic change and will do everything in their power to prevent it. According to what he heard from the Shah of Iran, he is a monarch who prefers centralized power and will not allow the local rulers to continue to outwardly comply while inwardly resisting.

"I have no objection, but I don't know if your Shah can persuade my men. They are all very powerful."

"You don't need to worry about that. As long as you nod, you don't need to think about anything else. Also, Shah would like me to inquire whether you are selling your Suez Canal shares?"

According to the contract between Egypt and France, the Egyptian government owns a 15% stake in the Suez Canal Company. Previously, Iran purchased 6500 shares from Sicily and Austria, a fraction of the Egyptian shares. Now, I'd like to take this opportunity to inquire about this.

“Shah said that if you agree to sell all the shares, he is willing to buy them at an additional 15% price. In addition, if you are really sure, Shah will also help you pay off the loans you owe.”

At current prices, plus an additional 15%, all the shares could be sold for £480 million. That's a considerable sum. Simply surrendering political power and the shares eliminates the worry of debt and provides a large sum of money—it seems like a win-win situation.

"I have to admit, Shah's offer is very tempting. But I still have to think about it."

"It's alright, you can agree anytime. After all, it's your choice."

It's all about interests. Shah may lack some other things, but when it comes to money, he's got plenty. As long as he can afford it, they can ask for whatever they want.

Nasser al-Din had been eyeing the stock for a long time, and with the canal about to open, how could he not prepare in advance? This international canal company was half French, with the remainder held by Egypt. Now, acquiring all the Egyptian shares would only place them as the second-largest shareholder, and besides, they hadn't even secured them yet.

The weather in Cairo remained just as hot, but for Ismail, his own sweltering heat was yet to come. It was almost here.

(End of this chapter)