The New York herald., 1850-11-16
The Nicaragua Canai-Operations In Lem
don-cIitiel state OF the Canal Compnny's
Charter.
IL or the Uerald1

OF the HtIalul
The election in New York Is over, and the
result, for good or evil, is before the country.
Men have now the time to think Of general affairs,
and to reflect upon the policy and interests of the
republic, aside from the single subject of slavery.
And we tsus, they will do so, and in earnest, for
there matters now pending of vital importance
20 our people, and which, since the commence
ment of the slavery agitation, have been too little
regarded. Prominent among theie, is the subject
Of ineroceanic communication, upon which much
has been said in discussive way, but which,
after a has been, AID lie, very imperfectly ander-
stood. We propose to take this subject up, and to
dscuss IL, In all It's bearings. In respect as well to
our national policy as TO our industry, commerce,
ard general interests. And, in doing so, we shall
speak with entire freedom of foreign ambassadors,
presidents, cabinet ministers, and chartered COM
psnes.
Before entering upon this discussion, we propose
to notice briefly certain recent occurrences, while
they ere yet fresh in the public mind. IL is not
unknown that u delegation OF gentlemen from the
| company which has obtained the grant for con-
stIuciBg a canal from the Atlantic te the Pacific
through the territories Of Nicaragua, lately visited
England, for the purpose OF securing the co.ope-
ration OF British capitalists 1t should, however,
| be promised that this company had, up to that
| time, effected nothing at home beyond paying
bonus Of s2s 900 10 Nicaragua, sending out small
steamer or two 10 ply upon the river San Juan and
| Lake Nicaragua, and organizing corps Of en9i-
neers, ostensibiy for the purpose Of making a pre-
limintIy survey Of the proposed canal, but actually
TO arrange the opening of new route of transit 10
Californla--a speculation, which promised, and
siill promises 10 be successful, and which, SO far
as we can learn has been the sole direct object of
the company, or to the accomplishment of which
| any bO4d fde efforts have been directed. These
move me mente, insignificant as they may appear,
as respects the grand enterprise ITSELF have been
sdroitly represented 10 be the initiatives to it's
prosecutioD for the reason that the charter under
"a lT ron rnu iUl ~ hr ger
bound them 10 commence operations upon the
canal within the year which expired in September
last IL was necessary, in order 10 secure the
cberter from forfeiture, otherwise the exclusive
| right Of navigating the waters Of Nicaragua by
steem would be lost and without this route OF
| transit could be opened When, therefore, the
delegation from the company, to which we have
referred, visited England, we are justified in say
ing, nothing relating TO the grand canal had been
effected. No stock had been taken--no stock
books opened-not one cent Of capital subscribed
or paid IN, beyond the pro rata on the members,
for the secondary purpose which we have specified.
The delegation took with them strong letters from
Sir Henry Bulwer who had been the guest Of one
or more Of the members of the company, and who
it is currently reported, had had il made to his in
terest present and prospective, to make his letters
aveiablc in terms. This may be scandal, but gu-
fortunately Sir Heurys continental career affords
us no reasen for supposing such thing impossible;
on the contrary they render it extremely probable,
end eminenty in keeping with the character which
he acquired 10 Spain, and which he IL fast acquir-
ing mere, 70 the emheht ulsercdlt OF ms govern
nent.
The advent of the delegation in England pro.
duced no rtmerk, beyond some sneers from papers
in the interest Of an English company, which has
procured precisely similar grant precisely the
same ground from the State Of Costa Rica-a State.
by the way, which has not q shadow Of right 20
meke any such grant, and which might, with
equal propriety, assume TO make grants in New
England The delegation remained in London
for two or three months, and upon its departure for
home, Il wes announced In the Times that il had
with British capitals q, by which the latter agreed,
under certain conditions, TO subscribe half the
capital necessary To the enterprise. The inference
left and probably designed 10 be left upon the pub
lie mind, from this announcement, was that the
whole affair had been definitely arranged, aud that
this longtaked Of, and really magnificent project,
wes now 10 be commenced and carried into execu-
rion. II such were the feet, none would rejoice
more than ourselves but we conceive that all de-
10 be triAed with; and il is one in which the public
have a right to demand that there shall be no
artifice The canal is necessity 10 the com
nerce Of the world-indspensihle to our in
terccyrse with our Pacific shores, and 10 our
con mercinl rredominance in that ocean. The
truth is the delegation TO which we have referred
accomplished nothing. should come 20 Mr.
Capitai end represent 20 him'thst an Improvement
2 railroad or censl, may be constructed in Iowa,
ders, and by means Of which a permanent and
larger profit can be secured than by anv similar
undertaking in the country the world, Mr. Capi-
tnl will no doubt reply-"Nery well, Mr. A; have |
money, interest is low, want TO invest II F; now
prove 10 me that your project will give the results
which you represent, shcw me that you have good
ard valid cherter, present me an accurate survey