The Middlebury register. [volume] (Middlebury, Vt.) 1850-1882, 1850-12-17

commence from breytOwn, ascent 10 San
Juan, and cross the lake to The city of Nic>
aragua, where land journey of only fifteen
miles remains TO reach the Pacific. The
contemplated fare for the passage is fifty dol
lars, including 100000 pounds of baggage
for each passenger. This is lower than the
charge at Panama, and consequently, the
saving of distance and the advantage to
health will also be accompanied by more
than proporlionate diminution of expense.
Nothing in connection with the present
movements on the Pacific will be watched
with more interest than these proceedings
1t has been commonly reported that the
number who crossed the isthmus last year
was 10000 and the lowest estimate was 30,
900. The increasing excitement regarding
California, and the shortening Of tho dis
tance, coupled with the removal of incon-
venicnces and dangers, giving the stimulus
Of still better prospects for the future.
Should everything 20, therefore,as smoothly
as appears 10 be calculated upon, year or
two can hardly elapsc before results may be
realized from this new opcning,more remark
able than any that have yet been dreamed
of. The course pursued for the temporary
transit is the same as that which was survey
ed by Lieut.. Bailey in 1887 for the canal
The company find however, that there is
every prospect of large saving being eff
fected by carrying the permanent work to a
more northerly terminus described in the
pamphlet of Prince Louis Napoleon. Mr..
Baileys estimate of $1,000 600 for the cost
Of its construction is an excess, therefore, of
that which they entertain, and the change of
the route, which reduced the elevation TO be
crossed from 4s7 feet down to Gfty-six feet,
has also the advantage of bringing them to
the port of Realejo, the finest on the Paci-
fc, and $50 miles nearer to San Francis
co.
The charter granted by the State of Mic
aragua provides that the canal is to be COM
pletcd in twelve years. The company are
to have the exclusive enjoyment Of it for
cighty.hve years after the date Of its compile
ton, and to receive fifteen per cent. out OF
the nett profits for the further period of ten
or twenty years. Meanwhile they arc 10
have a monopoly of the temporary route.
They are also to have the exclusive privil-
egc of steam navigation, and Of the road
making throughout the entire State for nine
ty-scvcn years, together with free grant Of
eight sections of land of six miles square, to
be chosen by themselves on the banks of the
canal. In return for these privileges, the
State Of Nicaragua is 10 receive nothing,
With the exception of some minor payments,
until seven per cent shall have been paid to
the stockholders. OF all profits exceeding
seven per cent, it is to receive one fifth du-
ring the first twenty years, and onc-fourth
thereafter The minor payments consist OF
$4,000 year until the completion of the
canal, ard a donation of 100000 Of its
stock.
The two governments Of Great Britain
and the United States have bound them.
selves to the enterprise by treaty OF pro-
lection. All the other powers will accord to
it the same advantage. The territory a
round it will constitute the first noutra
ground whence, by the pledged faith Of all
civilized nations, strife must be forever BAN
ished. 1t is the grandest work the world cant
witness. The past has seen nothing like il
and any similar fame must be equally deni>
cd to The future, since there will be no more
hemispheres to join. Is it destined it will
he asked, that in design which must thus
stand alone and unapproachable in the rec
ords of material progress, England as an
active agent, is to have no part ? From all
that appears on the surface, the answer
would be in the affirmative; and looking at
it as the penalty of a mania in which it was
denounced as reasonable TO question the
spending of s30o. .0OO,O year IN anala-
gons operations, the humiliation would be as
deserved as it would be ineilaceaJe. Hap
piili huhNNCli IL ida DcCn tNClteu.
Throughout the entire negotiation, it has
always been known that the New York
Company have desired that the work should
be one Of CO. operation between the two
countries, and in this spirit, although sur
rounded by violent political Influences that
would have urged different result, prom
isc was given 10 Sir Henry 3u!wer that an
equal participation in the enterprise should
be offered to this country on reasonable
terms. To fulfil that pledge, the two com
missioners from the company, Messrs. White
and Vanderbilt, arrived in London on the
9th ult., and after short period of negota-
tion, satisfactory arrangement was compile
ted this afternoon. That such has been the
case, it must at the same time be stated is
owing to the straightforward and moderate
requirements of the New York Company,
and to the sagacity and patriotism of our two
leading mercantile firms, and also of the
Governor Of the Hudson's Bay Company,
Sir Henry Pely. By the course which has
been adopted these parties, coniointIy with
others, will possess the power of Offering to
the British public,in due time, one half share
of the enterprise, the exercise of which pow.
er will depend, we understand, upon its be-
ing demonstrated to the satisfaction of gov
enment engineers that the estimates of out
lay and income will be such as 10 warrant the
most unquesIionable reliance. The offer,
therefore, will not be put forth until seven
monthly fnriher cNnerence Of what Is mss.