Page:EB1911 - Volume 09.djvu/40

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28
EGYPT
[MODERN: COMMERCE

possess rice mills. Flour mills are found in every part of the country, the maize and other grains being ground for home consumption. Soap-making and leather-tanning are carried on, and there are breweries at Alexandria and Cairo. The manufacture of tobacco into cigarettes, carried on largely at Alexandria and Cairo, is another important industry. Native industries include the weaving of silk, woollen, linen and cotton goods, the hand-woven silk shawls and draperies being often rich and elegant. The silk looms are chiefly at Mehallet el-Kubra, Cairo and Damietta. The Egyptians are noted for the making of pottery of the commoner kinds, especially water-jars. There is at Cairo and in other towns a considerable industry in ornamental wood and metal work, inlaying with ivory and pearl, brass trays, copper vessels, gold and silver ornaments, &c. At Cairo and in the Fayum, attar of roses and other perfumes are manufactured. Boat-building is an important trade.

Commerce.—The trade of Egypt has developed enormously since the British occupation in 1882 ensured to all classes of the community the enjoyment of the profit of their labour. The total value of the exterior trade increased in the 20 years 1882 to 1902 from £19,000,000 to £32,400,000. The wealth of Egypt lying in the cultivation of its soil, almost all the exports are agricultural produce, while the imports are mostly manufactured goods, minerals and hardware. The chief exports in order of importance are: raw cotton, cotton seed, sugar, beans, cigarettes, onions, rice and gum-arabic. The gum is not of native produce, being in transit from the Sudan. Of less importance are the exports of hides and skins, eggs, wheat and other grains, wool, quails, lentils, dates and Sudan produce in transit. The principal articles imported are: cotton goods and other textiles, coal, iron and steel, timber, tobacco, machinery, flour, alcoholic liquors, petroleum, fruits, coffee and live animals. There is an ad valorem duty of 8% on imports and of about 1% on exports. Tobacco and precious stones and metals pay heavier duties. The tobacco is imported chiefly from Turkey and Greece, is made into cigarettes in Egypt, and in this form exported to the value of about £500,000 yearly.

In comparison with cotton, all other exports are of minor account. The cotton exported, of which Great Britain takes more than half, is worth over three-fourths of the total value of goods sent abroad. Next to cotton, sugar is the most important article exported. A large proportion of the sugar manufactured is, however, consumed in the country and does not figure in the trade returns. Of the imports the largest single item is cotton goods, nearly all being sent from England. Woollen goods come chiefly from England, Austria and Germany, silk goods from France. Large quantities of ready-made clothes and fezes are imported from Austria. Iron and steel goods, machinery, locomotives, &c., come chiefly from England, Belgium and Germany, coal from England, live stock from Turkey and the Red Sea ports, coffee from Brazil, timber from Russia, Turkey and Sweden.

A British consular report (No. 3121, annual series), issued in 1904, shows that in the period 1887–1902 the import trade of Egypt nearly doubled. In the same period the proportion of imports from the United Kingdom fell from 39.63 to 36.76%. Though the percentage decreased, the value of imports from Great Britain increased in the same period from £2,500,000 to £4,500,000. In addition to imports from the United Kingdom, British possessions took 6.0% of the import trade. Next to Great Britain, Turkey had the largest share of the import trade, but it had declined in the sixteen years from 19 to 15%. France about 10%, and Austria 6.72%, came next, but their import trade was declining, while that of Germany had risen from less than 1 to over 3%, and Belgium imports from 1.74 to 4.27%.

In the same period (1887–1902) Egyptian exports to Great Britain decreased from 63.25 to 52.30%, Germany and the United States showing each an increase of over 6.0%. Exports to Germany had increased from 0.13 to 6.75%, to the United States from 0.26 to 6.70%. Exports to France had remained practically stationary at 8.0%; those to Austria had dropped from 6.3% to 4.0%, to Russia from 9.11 to 8.43%.

For the quinquennial period 1901–1905, the average annual value of the exterior trade was:—imports £17,787,296; exports £18,811,588; total £36,598,884. In 1907 the total value of the merchandise imported and exported, exclusive of transit, re-exportation and specie, was £E.54,134,000—constituting a record trade return. The value of the imports was £E.26,121,000, of the exports £E.28,013,000.

Shipping.—More than 90% of the external trade passes through the port of Alexandria. Port Said, which in consequence of its position at the northern entrance of the Suez Canal has more frequent and regular communication with Europe, is increasing in importance and is the port where mails and passengers are landed. Over 3000 ships enter and clear harbour at Alexandria every year. The total tonnage entering the port increased in the five years 1901–1905 from 2,555,259 to 3,591,281. In the same period the percentage of British shipping, which before 1900 was nearly 50, varied from 40 to 45. No other nation had more than 12% of the tonnage, Italy, France, Austria and Turkey each having 9 to 12%. The tonnage of German ships increased in the five years mentioned from 3 to 7%. In number of steamships entering the harbour Great Britain is first, with some 800 yearly, or about 50% of all steamers entering. The sailing boats entering the harbour are almost entirely Turkish. They are vessels of small tonnage.

The transit trade with the East, which formerly passed overland through Egypt, has been diverted to the Suez Canal, the traffic through which has little to do with the trade or shipping of Egypt. The number of ships using the canal increased in the 20 years 1880–1900 from 2000 to 4000, while in the same period the tonnage rose from 4,300,000 to 14,000,000. In 1905 the figures were:—Number of ships that passed through the canal, 4116 (2484 being British and 600 German), net tonnage 13,134,105 (8,356,940 British and 2,113,484 German). Next to British and German the nationality of ships using the canal in order of importance is French, Dutch, Austrian, Italian and Russian. About 250,000 passengers (including some 40,000 pilgrims to Mecca) pass through the canal in a year (see further Suez).

Currency.—The monetary system in force dates from 1885, when through the efforts of Sir Edgar Vincent the currency was placed on a sound basis. The system is based on the single gold standard. The unit is a gold coin called a pound and equal to £1, 0s. 6d. in English currency. The Egyptian pound (£E.) is divided into 100 piastres, of which there are coins in silver of 20, 10, 5 and 2 piastres. One, 1/2, 1/5 and 1/10 piastre pieces are coined in nickel and 1/20 and 1/40 piastre pieces in bronze. The one piastre piece is worth a fraction over 21/2d. The 1/40 of a piastre is popularly called a para and the native population generally reckon in paras. The legal piastre is called the piastre tariff (P.T.), to distinguish it from the 1/2 piastre, which in local usage in Cairo and Alexandria is called a piastre. Officially the 1/2 piastre is known as 5 milliemes, and so with the coins of lower denomination, the para being 1/4 millieme. The old terms kis or “purse” (500 piastres) and khazna or “treasury” (1000 purses) are still occasionally used. Formerly European coins of all kinds were in general circulation, now the only foreign coins current are the English sovereign, the French 20 franc piece and the Turkish mejidie, a gold coin worth 18 shillings. For several years no Egyptian gold pieces have been coined. Egyptian silver money is minted at Birmingham, and nickel and bronze money at Vienna. Bank-notes, of the National Bank, are issued for £E.100, £E.50, £E.10, £E.5 and £E.1, and for 50 piastres. The notes are not legal tender, but are accepted by the government in payment of taxes.

The history of the currency reform in Egypt is interesting as affording a practical example of a system much discussed in connexion with the currency question in India, namely, a gold standard without a gold coinage. The Egyptian pound is practically nonexistent, nearly all that were coined having been withdrawn from circulation. Their place has been taken by foreign gold, principally the English sovereign, which circulates at a value of 971/2 piastres. In practice the system works perfectly smoothly, the gold flowing in and out of the country through the agency of private banking establishments in proportion to the requirements of the circulation. It is, moreover, very economical for the government. As in most agricultural countries, there is a great expansion of the circulation in the autumn and winter months in order to move the crops, followed by a long period of contracted circulation throughout the rest of the year. Under the existing system the fluctuating requirements of the currency are met without the expense of alternately minting and melting down.

Weights and Measures.—The metrical system of weights and measures is in official but not in popular use, except in the foreign quarters of Cairo, Alexandria, &c. The most common Egyptian measures are the fitr, or space measured by the extension of the thumb and first finger; the shibr, or span; and the cubit (of three kinds = 222/3, 25 and 261/2 in.). The measure of land is the feddan, equal to 1.03 acres, subdivided into 24 kirats. The ardeb is equal to about 5 bushels, and is divided into 6 waybas, and each wayba into 24 rubas. The okieh equals 1.32 oz., the rotl .99 ℔, the oke 2.75 ℔, the kantar (or 100 rotls or 36 okes) 99.04 ℔.

Constitution and Administration.—Egypt is a tributary state of the Turkish empire, and is ruled by an hereditary prince with the style of khedive, a Persian title regarded as the equivalent of king. The succession to the throne is by primogeniture. The central administration is carried on by a council of ministers, appointed by the khedive, one of whom acts as prime minister. To these is added a British financial adviser, who attends all meetings of the council of ministers, but has not a vote; on the other hand, no financial decision may be taken without his consent. The ministries are those of the interior, finance, public works, justice, war, foreign affairs and public instruction,[1] and in each of these are prepared the drafts of decrees, which are

  1. To the ministry of public instruction was added in 1906 a department of agriculture and technical instruction.