THE ORIGIN OF THE SUEZ CANAL. 243 



" Our continental wars and the weakening of all 

 other navies have enabled her to establish well- 

 selected points of vantage in every sea and to hamper 

 the trade of other nations. But this is no longer 

 possible. The dream of universal dominion has passed 

 away, as the empire of the first Napoleon showed. 

 If a nation, however powerful she might be, attempted 

 to debar a means of communication which, by right 

 of the respect due to the capital subscribed, would be 

 the common property of all nations, she would very 

 justly be banned by public opinion and would ulti- 

 mately have to withdraw her pretensions. It will be 

 wiser and more profitable for her to abandon her 

 exclusive ideas of omnipotence and enter into partner- 

 ship with other nations. Her share will always be 

 the largest when it is a question of trade, industry, 

 and navigation. 



* * * * * 



" You ask me upon what bases I propose to place 

 the financial part of the company. I have, upon that 

 point, only one principle, very firmly fixed it is true, 

 but the means for carrying out which must be left to 

 time and consideration. My object is that, in all 

 countries the largest possible number of small share- 

 holders shall enjoy the fullest possible advantages. 



" Suppose I was to come to an arrangement with 

 ten large bankers to make the concession over to 

 them, what would happen ? They would propose to 

 divide so many millions ; they would then distribute 



