(there being no issue of the paper dated August 22)
Mr. V.K. Krishna Menon, leader of the Indian delegation to the Suez Conference in London, tabled on August 20 a five-point plan before the delegates in the belief that it would provide "the basis for negotiations for a peaceful settlement." The plan suggested an Egyptian corporation for the Suez Canal, which would report to the UN annually. Mr. Krishna Menon said the proposals were put forward "realising that it is imperative that a peaceful and speedy solution to the situation concerning the Suez Canal in accordance with the principles and the charter of the UN must be found and a way for negotiations opened without delay on the basis of: (i) Recognition of the sovereign rights of Egypt. (ii) Recognition of the Suez Canal as an integral part of Egypt and as a waterway of international importance. (iii) Free and uninterrupted navigation for all nations in accordance with the Convention of Constantinople of 1888. (iv) The toll and charges being just and equitable and the facilities of the canal being available to all nations without discrimination. (v) The canal being maintained at all times in proper condition and in accordance with modern technical requirements relating to navigation. Mr. Menon's plan also recalled that the Convention of 1888 "sets out as its purpose the establishment of a definite regime destined to guarantee at all times and for all powers the free use of the Suez maritime Canal." The plan also took note "that Egypt has declared even as late as July 31, 1956 that she is determined to honour all her international obligations and both the Convention of 1888 and the assurances concerning it given in the Anglo-Egyptian Agreement of 1954." Mr. Menon warned the conference that the consequences of any conflict over the canal dispute would go "far beyond Egypt."