The New York herald., 1850-11-16

all that you have asserted, and will take half
your stock"-would Mr.. A be authorized in going
back 10 Iowa and telling the public that Mr. Capital,
of New York, had taken half the stock of his inn
pIovement, and that the whole thing was settled
Net at all. The matter stands precisely where it
stood before Mr. A visited New York. IL the
charter is not clear and valid, nothing is accom-
plished II the survey is not all that Mr.
represented, Mr. Capital won't advance cent,
and though may humbug his neghbors for
awhile, yet the chances are, that his project will
fall through in the end, and he will receive the
public contempt as an imposter. The Nicaragua
Canal Company have done just what we have sup
posed A TO have done, and nothing more Bar
ings, and the Lord knows who, have agreed to do
80; and so, and SO, If, and il, and if!
Now, how stands the contract ofih Nicaragua
CeDal Company ls it valid? And if valid, Is it
available II these questions cannot be answered
in The affirmative, the whole thing is done for. and
it is useless 10 talk more about it. We do not sup
pose II will take long to answer these questions tor
the facts in the case lie in nut she'll The public
have been made acquainted with the provisions of
the charter; they are certainly very favorable
more favorable than those of any charter ever be-
fore granted for the same objects. Indeed, il is a
matter OF surprise TO those who know no
thing Of the circumstances under which it
was obtained, that Nicaragua should have made
so liberal concessions; and such, even, would
arrive at the conclusion that there were power
full considerations which influenced her il the
matter We know well what these considerations
were; and we know also that the grant a
conditional one; that those conditions have not
been complied with, and that until they are, it is
optional with Nicaragua to continue or to revoke
the charter Ii ls, In fact, already forfeited, and
recent information from Nicaragua leads us be-
eve that its forfeiture will be officially declared,
unless matters in Washington speedily assume a
widely different aspect from what they now wear.
And much as we should regret such course, yet
we are forced to admit that Nicaragua would be
Jusiihed IN pursuing it an opinion in which the
public will perfectly coincide, when the matter is
presented TO them
Ii is not 10 be supposed that the company under r
notice started with any real design of constructing
the proposed canal; that, indeed, any such thing
as company existed, when the charter was grant
ed. The whole affair was an experiment, IN which
a few lawyers in Wall street were the principal
movers, their original purpose berg TO obtain
charter, and afterwards dispose of IL at any good
price. II is true they obtained kind of quasi
patronage from one or two capitalists, who, how
ever, took good care not to commit themselves
until they saw that there was prospect OF effect
ing something. BY an effort, few hundred dol
lars were raised, and an agent sent out TO Mica
rseua, namely, one OF the lawyers aforesaid He
arrived in March or April. 1910, but, up TO July
following, succeeded in eilectng nothing, and
would have effected nothing, had It not heen for
the Intervention OF the United States government.
when il is known" says writer in the last num-
her OF the -dm9ican Rerie,c, "that not less than
fourteen or fifteen contracts had previously
been entered into for the same WORK, all of which
have been forfeited for non. compliance with their
conditions, it can readily be understood that the
Nlcaraguan government would not entertain any
new propositions, except under circumstances cal
cGlaied 10 inspire confidence in the parties apply
ing and under strong collateral assurances of their
good faith and ability. Ii was not therefore, until
an American Minister was sent to Central Ameri-
cs, invested with penary powers to treat, on behalf
OF The United States, with the several republics of
Central America, Nicaragua included, and spe-
cially authorized TO extend the guarantees of his
government 10 any charter OF a proper character,
which any company of American citizens might
Vor
II was not until then tsat the government of Mica
reeua felt justified IN reopening the matter. Un-
der these circumstances, however, il granted
charteT more liberal than any before conceded, and
which is the one under notice."
This is ihe statement nfih case by one evidently
friendly TO the objects OF the company. The Mica
ragul government anted the charter under the sole
CONDITION that the United States should not only
guarantee the proposed work, but the rights OF
Nicaragua over the country through which It
was provided II should pass, viz ;rsm the port of
San Juen on the Atlantic TO the port otRealejo on
the Pacific. II was, in fact, negotiated parallel
with. and made dependent on, the treaty between
the United States and Nicaragua. In making its
con Dcessions, the government OF Nicaragua was in-
fuenced entirely by The support which 1t expected
to derive from the cogniian by the United States
OF i,s territorial rights and ITS independence. IL
was because they had before them the Instructions
Of the government of the United States to its minis
ter, authorizing him to extend these guarantees,
that they were nductd to tre Il wi.h the agent to
which we have referred, and who, up to that time,
had accomplished nothing. They were assured by
The American Secretary of State, as may be seen
by Mr. Clsytons dispatches TO Mr.. Squier, that the
United States was ready 10 enter into treaty stipu-
atoms with Nicaragua to =" defend and protect"
the proposed undertaking. The contract and the
treaty went together; they were parts respectively
Of the same general agreement; and they reached
the United States by the same special bearer
of dispatches. Unless, therefore, the treaty ne
goiated by Mr.. Squier is ratified, the contract
IS rendered null. and is not worth the paper il
Is written on. The two are inseparable II one
falls, both fall. The Bulwer and Clayton treaty
has nothing to do with the questions for neither
Mr.. Bulwer nor Mr. Clayton had the power to bind
Nicaragua one way or the other. The government
of that republic Will say TO the company, II indeed
an efcisl decree TO that effect has not already
been promulgated, "Gentlemen. we granted you
a liberal charter, under the assurance that your
government would ratfy the treaty negotiated by
its fully authorized minister; this, as you know,
was the condition OF the agreement between US;
your government has play ed us false the terms OF
the agreement are broken, and your contract falls;
we no longer regard II as binding upon us." For
own part, earnestly desire TO have the
agreement with Nicaragua carried out IN good
failh-we ere anxious that our government shall
act honorably in the matter, and that the charter
may be saved. In this way only do we believe
that British Entertainments ia Central America
csn he checked, and sound American policy vim
dicated Everything depends upon the action Of
the Senate. Ii the treaty before il is ratified,
ell is well If not, the whole canal business falls
through so far as the present company is concerned,
II Nicaragua takes the course which we have
Indicated, as she probably will, for the feeling ef
indignation there IL very strOng,) what redress Is
there for the company None Had Mr. Sqaier's
treaty been ratified, as il should have bces, the
contract would have been secured against any
act Of forfeiture or violence. from wbatsoever quar-
ter the same may proceed" for such are the terms
Of the treaty. Nicaragua would then have been
bound to comply faithfully with all of her stipua-
tions. AZ il Is, she stands relieved from every OBJ
legation.
There are other considerations connected With
this subject, which we shall proceed TO take up in
detail, and as rapidly as circum stances will permit
NICARAGUA.
The Dominican Republic.
TByATY OF FEACE, AMTTY, CoMMEKCK, AND Nav1oA-