Suez canal and Telegram

Suez canal and Telegram - INTB 3351 Study Guide: The...

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INTB 3351 Study Guide: The Creation of the FirstGlobal Economy Video: Modern Marvels: The Suez Canal Modern Marvels: The Submarine Telegraph 1. How was Egypt drawn into supporting and financing the construction of the Suez Canal? When the French counsel came to know that there has been talk’s goings on about building a canal they immediately formed a strong alliance with the young prince of Egypt. The young counsel soon became good friends. When Britain came to know of this situation they didn’t wanted French to gain access to the major trade route to India. But they were to get the most benefits if this canal was to build. So they use their influence from loaning money to Ferdinand de Lesseps . So de lesseps start selling shares but limited the amount of shares French can buy. Major shares were tricked and forced to be bought by Sayed the prince of Egypt by Ferdinand. Not having enough money Sayed took loan from the same European union which before denied same loan to Ferdinand. The main idea was that the part revenue will go to the canal building company, part to the shareholders
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This note was uploaded on 09/30/2010 for the course INTB 3351 taught by Professor Priest during the Spring '08 term at University of Houston.

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Suez canal and Telegram - INTB 3351 Study Guide: The...

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