American watchman and Delaware advertiser., 1826-10-03
f'rcm tie National Tdehtsenccr,
CANAL OF NICARAGUA.

! The official title of the Company with whom The
Government of Guatemala has contracted to cut the
Canal is "The Cent al American and United
States Atlantic and Pacific Cana! Company" lhe
terms OF the contract as represented 10 us oy sne
General Agent, AARON II PALMER, Esq. by whose
strumentslity the contract was oolained ior an
| American Company, are as foHow;
| " rhe Canal TO be opened by the company shall
admit vessels of the largest burden possible. The
Government Of the Republic of Central America is
bound to contribute to the most expeditlous com
pletion Of the enterprise, by permitting the cutting
of timber necessary for the works, by facilitating
the surveys, and other preliminary operations; by
furnishing the plans, charts, and dwellings, already
made, and in procuring workmen and is further
bound to Indemnify the owners of lands, farms, and
other property, through which the canal may pass
lor all damages incurred thereby. The accounts oil
the company for all disbui sements made IN execu-
lion Of this entelprize, are to be audited at the
Treasury Department Of said Republic every SIX
months and interest shall then commence thereon,
al the rate OF ten per cent. per annum
The company is entitled to receive twothirds OF
the duties imposed on all vessels, goods, and pro-
duce, passing through or entering the canal; the
Republic is TO receive the other ihri part The
company is also entitled to receive one hall OF the
hell p oceeds OF the canal Tor the term of seven
years alter the payment, by the Republic, OF the
ca pita invested the Elm, by the company, together
with the interest thereon al the rate OF ten per cent
per annum; with the exclusive privilege oi The ma
Wig alton OF the anal by steamboats, Tor 70 years at
ter the completion Of the canal Tree OF duties; and
is authorized to fix the amount TO be paid or the
lreiyh, Of cargoes and passengers, on board said
steam boats. and the ls,e Of compensation ior towing
vessels through the canal
The navigation OF the canal Will be common to
all friendly and neutral nations, without any exclu
sve privilege. The Government OF the Republic
Is bound 10 keep in the Lake OF Nicaragua aud othef
points on he canal the vessels ol war viii. h she
insy Judge necessary Tor the defence and safety
thereof
The proposals of the company are TO have a pre-
ference for the supply ol the castles and orlhta
lions to be erected on the canal, wih arms, ammu
aitions and stores; and also in The contracts Tor
building and equipping vessels OF war tor the pro.
lection OF the canal. sc. The company arc to re
serve five per cent OF the capital stock, TO be sub
scrbed for by the natives Of the Republic, within
one year after opening the books OF subscription
I This contract has, we understand been submit
ted to The inspection OF the President OF the United
States, and to the Secretaries OF State, Treasury,
and War Department all Of whom have express
ed their decided appreciation Of the great object Of
unlting the two oceans by means oi canal for ship
navigation, and their great satisfaction has ii work
Of such transcendant importance to the commerce
Of the world should be executed by any company,
ha, company should be composed Of citizens Of the
United States"
With regard TO ,be importance OF such work
there be no difference Of opiaion. Nations
might vie with one another tos the honor OF accom-
plishing II; and it is an oh et which, We have 10
doubt, would have been under taken by concert oi
1 Nations, had so formidable an agency been required
to execute the project. Fortunately. however, the
tobstructions TO the construction Of Ship Canal be
tween the Two oceans, are no, TOO great for the el
IIorto ~ .I Nitaliet
have seen survey oil the descent from Lake Mia
ragua TO the Pacific, most accurately made undet The
direction OF The Spanish Government, as long ago
as the year l78l--for, SO long ago, did that powtr
mediate the enterprise. BY that survey ii appears
hat the descent in 10 or IL miles distance TO the
Pacific from the level of the Lake to the level OF he
&c an, is only l33 feet II inches The descent on
this side to he river ST Juan, is OF great.
er For more particular information, we refer the
reader to the following extract fIom The work OF
| WM. ID. RoBiNsoN who was familiar with the to-
pogrsphy ol the country, from personal obselva
| ton:
"In looking over the excellent maps Of Me!ish
and DIR. Robinson, recently published, we perceive
hat The river called San Juan discharge, It's wa,ers
into the A lantc Ocean, in the province Of Cost,
I Rlca about the lali ude of 100 As North. This
noble river has its il the lake OF Nicaragua
The bar al its mouth has been generally stated as
not having more than twelve feet water on il. A
bout sixteen years ago. an enterprlsng Englishman
who rasuay visited the river examined The differ
erent passages the bar and discovered which
although narrow, would admit vessel drawing
twenty five feet II is said that of the tradets
to that coast from Honduras, are likewise aequant
ed with the passage jus mentioned but it has never
been laid down any map and II the Spanish Ga
vernment had been informed OF it, they would, con
formally to their usual policy, have sudiously con
ceaed it. Afer the bar OF the San Juan is crossed
there is excellent and safe anchorage in four aud six
iahoms Of water. 1t is stated that there are no o1