Printed papers on the political situation and military policy in Egypt [‎43r] (85/176)

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capable of giving a normal yield under cereal crops. It is probable, however, that
the actual area under cotton in 1921 was considerably in excess of the official figures.
If that is true, the total estimated yield for 1921 would fall considerably below the
true yield.
(b.) Facilities for Ginnimj and Storage without Sale.
(c.) Attempt to Foster Agricultural Co-operative Societies.
122. These measures were both noted last year as having met with little response.
(d.) Advances on Cotton.
(e.) Advances to Owners of Small Properties.
123. The facilities for guaranteed advances to cultivators were not taken
advantage of to any great extent. The total amount advanced by the National Bank
was about £ E. 62,000 and that by the Agricultural Bank about £ E. 40.000. These
advances have been nearly all repaid.
(f.) Suspension of Special Compulsory Storage of Cnginned Cotton.
124. The decision of the Egyptian Government to suspend the law by which
owners of unginned cotton are obliged to keep it in moth-proof stores resulted, as was
to be anticipated, in a much-increased prevalence of the pink boll-worm. The infes
tation by this pest during the early part of the season was worse in Lower Egypt
than it had been since 1917 and worse in Upper Egypt than ever before. There w^ere
other reasons for the very poor average yield of 1921, but this must be considered as
a contributing factor.
(g.) Purchase of Cotton from Small Cultivators
(h.) Purchase of Ginned Cotton in Hulk.
125. The purchase of cotton by the Government from small cultivators in the
interior commenced in March 1921 and was followed by purchases in bulk in the
Alexandria market in April and May. The total purchases aggregated 88,000
kantars in the interior and 86,000 kantars in Alexandria, the total expenditure being
about £ E. 950,000.
126. The premium on Egyptian over American cotton, which had been about
65 per cent, at the beginning of the year, and had fallen to 50 per cent, in February,
rose on the announcement of the Government’s intentions and attained over 90 per
cent, in April. It fell again to about 70 per cent, in the summer, but with the advent
of the new crop a rise took place in both Egyptian and American cotton, and the
premium on Egyptian cotton also recovered to nearly 100 per cent, in September,
without anv intervention by the Government, which, on the contrary, took the
opportunity to dispose of a considerable portion of its stock. Ihe rise was short
lived, and prices gradually subsided, the Egyptian premium also falling off. When
the budgetary estimates were completed and passed (late March) it stood at about
63 per cent. ^At the end of J une it stood at 46 per cent. The experience of the year
goes to show that temporary speculative movements may take place with or without
Government intervention, and that such intervention can have no permanent effect
on prices.
(i.) Limitation of Agricultural Rents.
127. Under the law of the 1st May. 1921, commissions were appointed to enquire
into and decide differences between landlords and tenants with regard to the rent of
agricultural land. The number of cases with which they had to deal was very large,
amounting in all to 111,141. Of these, a small proportion was settled out of court,
but most landlords preferred to await the decision of the commissions before making
any reduction of rent, however impossible it may have been for the tenants to pay.
The reductions made were fairly drastic, varying from 30 per cent, to 60 per cent,
of the original rental. The complaints against the commissioners were, nevertheless,
very few\ and their decisions appear on the whole to have proved acceptable to both
parties. In fact, the working of the law appears to have been so beneficial in its
effects as to render worthy of serious consideration the introduction of permanent
legislation and machinery for the control of the relations between landlord and
tenant.