Abstract:
For 90 years the Compagnie Universelle du Canal Maritime de Suez played an
integral role in the economic development and stability of the world. The Suez Canal
connects the western world to the eastern, and, consequently, a vast majority of the
world's imports and exports reach their destinations via the canal. However, on July 26,
1956, President Gamul Abd'ul Nasser of Egypt nationalized both the canal and the
company, and the world was thrown into political and economic chaos.
The majority of the Suez Company information utilized in the writing of this work
focuses on the Claude E. Boillot collection, which has recently been opened at the
Eisenhower Presidential Library in Abilene, Kansas. During the crisis, Boillot served as a
bi-lingual intermediary between the company's New York and Paris offices. Due to his
presence in New York, Boillot was able to meet and interact with various international
businesspersons and delegates to the United Nations.
As a result of Boillot's actions during the crisis, the company was able to preserve
some rights which would later be significant in reaching a settlement between the Egyptian
government and the Suez Company. Throughout the crisis, Boillot argued the illegality of
the Egyptian nationalization among the international politicians and the American public.
When the canal was blocked by President Nasser, Boillot helped to facilitate immediate
deblockage efforts to avoid a global economic catastrophe. And finally, Boillot repeatedly
demanded rights for the company and its pensioners and stockholders from the
nationalization in 1956 until the canal settlement in 1958. It is the purpose of this work to
provide further insight into the role of the company as well as the successes and failures of
the international diplomats during the crisis.
