The Isthmus of Suez Question

by Ferdinand de Lesseps

The term of the grant is ninety-nine years, commencing from the day of the opening of the Canal of the two Seas.

Article IV.

The works shall be executed at the sole cost of the Company, and all the necessary land not belonging to private persons shall be granted to it free of cost. The fortifications which the Government shall think proper to establish shall not be at the cost of the Company.

Article V.

The Egyptian Government shall receive from the Company annually fifteen per cent. of the net profits shown by the balance sheet, without prejudice to the interest and dividends accruing from the shares which the Government reserves the right of taking upon its own account at their issue, and without any guarantee on its part either for the execution of the works or for the operations of the Company; the remainder of the net profits shall be divided as follows:—Seventy-five per cent. to the benefit of the Company, ten per cent. to the benefit of the members instrumental to its foundation.

Article VI.

The tariffs of dues for the passage of the Canal of Suez, to be agreed upon between the Company and the Viceroy of Egypt, and collected by the Company’s agents, shall be always equal for all nations; no particular advantage can ever be stipulated for the exclusive benefit of any one country.

Article VII.

In case the Company should consider it necessary to connect the Nile by a navigable cut with the direct passage of the Isthmus, and in case the Maritime Canal should follow an indirect course, the Egyptian Government will give up to the Company the uncultivated lands belonging to the public domain, which shall be irrigated and cultivated at the expense of the Company, or by its instrumentality.

The Company shall enjoy the said lands for ten years free of taxes, commencing from the day of the opening of the canal; during the remaining eighty-nine years of the grant, the Company shall pay tithes to the Egyptian Government, after which period it cannot continue in possession of the lands above mentioned without paying to the said Government an impost equal to that appointed for lands of the same description.