The sweet water canal represents in part the work of various 41 rulers of Egypt from the earliest recorded times. The plan of connecting the two seas directly is modern; it was natural that the earlier route should be by way of the great river of Egypt and the inhabited part of the country. The restoration and extension of this ancient waterway was essential to the scheme for constructing the Suez Canal. A good supply of water was vitally necessary for the vast army of native labourers engaged in the work; the Canal could also be used for small traffic, and for reclaiming the neighbouring desert by irrigation. So here we have a link with the real Egypt, the waters of the Nile, and the great dam at Assuan, far away up the river, which holds up 42 the water and controls the whole system. At both ends of this long chain of water are vast engineering works of the most modern type, designed by Europeans; between are the Pyramids, the 43 greatest triumphs of the engineers and builders of the past, and the representatives of Egypt with all its ancient civilization. It is a strange contrast of the very old with the very new which meets us in this corner of Africa: the present conditions might have been very different if the great route to India and the East had passed elsewhere.
The Suez Canal, though of vital importance to the whole world and especially to the commercial Powers of Europe, is not a national undertaking but private property, constructed under a lease granted by the Egyptian Government. Our own interests in it are curious. The Canal was built through the energy and initiative of the French; it is largely owned in France and controlled from Paris. But the British people are shareholders, since our Government, in 1875, bought up the private shares of the Khedive, and now draws ordinary commercial dividends which appear in our national accounts. The shares originally cost us four millions sterling. They are now returning us as profit over a million every year. British ships, which are the largest users of the Canal, contribute the greater part of these dividends. But the waterway was too important to be left as a mere private undertaking; so, in 1888, all the great Powers of Europe agreed on a Convention to render it free to the ships of all nations in time of peace or war. By the terms of this agreement the Government of the Khedive is entrusted with the task of enforcing neutrality and protecting and maintaining the free use of the Canal, with the assistance if necessary of the Government of the Sultan of Turkey. In the last resort there is an appeal to the Powers signing the Convention. The Powers also agree to maintain the principle of equality in the use of the Canal, and not to attempt to obtain any special political or commercial privileges in regard to it. Thus, so far as documents and safeguards can avail, the Canal is to be maintained, in the interests of the whole of Europe, as an open sea-road to the East.