Constitutional Whig. [volume] (Richmond, Va.) 1824-1832, 1826-09-29

the commercial measures proper put in train by
the United States, in with political revou
ton SO awakening, SO monentous.
The following is an outline of the contract referred
&c:
The Canal ia be opened BY ;he company shall admit
vessels OF The largest burden possible. The Cover
'nent ofthc Republic of Central America, is bound to
contribute To tue most expeditions completion OF the
enterprise, by permitting tie cutting or timber neces
sary for tue works; by facilitating the surveys and other
preliminary opcrations by furnishing the piaDs charts
and dwellings already made aud in procuring wortmen;
anu rs further bound To indemnify the owners oi lands,
farms, and other property through which tie canal may
pass, for all damages incurred thereby The accounts
oi The company Tor ali disbursements nade IN eXecu-
lion OF this enterprise be audited nj te Treasury
Department of said Republic, every six months, aud
interest shall then commence thereon the rate
per cent. per annum.
The company Is entitled 10 receive two thirds o the
duties imposed on all vessels goods, and produce
sing through or entering the canals The Republic is TO
receive Inc Other third part The company Is also emit
tied TO receive half Of the net proceeds Of Tie canal
for the term Of seven years after the Payment, by the
Republic OF the capital invested therein, ny the
pany together with the interest thereon, nj the OF
ten per cent. per annum with the exclusive privilege
OF the vgat,on of tho canal by steam boats for 20
years after the completion Ofte canal free OF dntics
and authorised 10 fix the .mUunt 10 he paid FOR the
freight OF cargocs and passengers board SAID steam
beats and the rate of compensation for towing vessels
through the canal.
i The navigation o. tho canal vii, be common all
friendly and neutral nations. without exclusive pfvi-
icgc. The Government nf the Republic is bound 10
keep in the Lake of Nicaragua and points on
The canal the vessels OF war which she NAV judge
ccssary for the defence and safety thereof.
| The proposals OF the company, have prefer
ence Tor tie supply Of the castles and Qualifications
erected on the canal, with anmunons and stores;
and also in the contracts for building AMI cquippng
vessels OF wal for the protection Of the cana &c. he
company 10 five rcr cent. OF the capital
stock 10 be subscribed for by the natives of the cpub-
nc witsn one year after opening the bucks of sub
scriptOn.
/ 1t viii be remembered that in Tic year 1875 law
was passed by the Congress of Central America de
c!aing tiat canal should be opened ~ connec. The
two oceans, and advertisement was accordingly is
suod inviting the cnterprisips Of all nations Offer
proposals for executing the work. 1'luse made b.
the company OF which Mr. Palmer is the general agent
were accepted. la the Chamber of Representatives,
we learn that the votes stood 90 in favor of rati
tying the Contract, and that in tho Senate there was
not = dissenting voice. With these sanctions, tic
Contract received the signature of the President on The
l7tiI o! June last and the great seal of the Republic
being affixed 10 il the day is now part oi
the law of the land. To the activity intelligence and
Pcrsevering zeal ofCo de Bcncslia gentleman FOR
merry attached to the Mexican army & personally held
IN lish respect by the members of the Central Amer.
lcan Governments most OF whom had been his associates
and companions in arms-wc learn that tile COMPANY
arc chiefly indebted for the successful issue Of ,li
important negotiation.