The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1852-04-01

of half or two-thirds of his property SO that the
difference between the rate Of loans on real property
and commercial securities is enormously in favor
Of the latter Yet if safe investments on mortgage
Can be obtained in France ut the high rates now said
TO be- common there, ii is not probable that any oon-
siderable GLASS Of capitalists viii continue TO ad-
vance money on lowcr terms than what may DO OBJ
tanned in the public market. We therefore enter
tain no hopes that this project will have the same
success in Franco which il has mot with in Ger
many.
The government, following in this respect in the
steps OF it's predecessors has shown that it is
OF the magnitude of tho danger to which the Fronoh
nation is exposed by this rapid augmentation Of tho
burdens on the agricultural population, far exceed
ing tho progress mado in the wealth productive
power OF that portion of the community The cry
for reform in the law of mortgage is of the
most popular objects in France, and somo attompt
may be mado to meet it. But We shall not DO sur
pr 70 find that any such attempt viii aggnyate
the evil by facilitating the negotiation of those
loans. until the rights of property themselves
oycrtbrown by GLASS of needy and fragmentary
rioprietors, who arc already on the brink Of pau
pcIism ant the road to social revolution.
An Extensive Gold Speculation in London
sn New Granada Mines.
IRON the London Sun, March 10
We would invite the public attention to tho adyor-
tscmcit of the New Granada Company in
course reformation, which will DO found in another
part OF this days impression Long before the OK
tonsivc deposits Of gold dust in California and AUG
trta bad been brought to ight--discoyeries which
have alike excited the hopes Of the needy, and tho
terfors Of Che wealthy-the aurerous. qualities Of
certain districts in Now Granada wero we'll known.
IL found, We arc told by Nh. Wyld, in his
admirable pamphlet on the distribution Of gold
throughout the world, in the Central ard Western
Andes. There were also river washngs in the Rio
Cauca, and considerable quantities wero obtained in
the Rio Iulia aud the Rio Hachs. In Tho mountains
of Autioouia il was also produced by mineral wash
ings the yield being about 100000 yosrly. On
the came high authority we learn that Tho gold coli
mage ut tho mint of Bogota, IN New Granada, for
the 10 years from 1910 TO 1925, inclusive amounted
to 10 less than SIS Isl ,53I nearly $3.50 600
per annum, average. II is certain that worry
considerable quantity o. the produce found It's
way to the mint AT Bogota, and when such quaint
tes could formerly have been obtained with the in
different resources and inferior skill available, VIC
can easily conceive what may now DO realized by
TIE combination Of experience, energy. and every
possible adjunct which tho resources Of wealthy
company place at their disposal.
The directors have, il appears, entered into y
contract agreement for tho purchase Of freehold
property in the province of Choco, upwards Of
seventy miles in length, and varying from twonty
to sixty miles in width comprising of more
than 100000 acres, upon which many surface
mines have already been discovered, not Of gold
only, but aleo OF silver platina, cinnabar ard other
products. deposit Of 5000 is to be Mt once
paid, tho b. lance Of tho purchase money being psya
bio in the shares Of the company satisfactory
curty must, however be given to tho directors for
the refding of tho deposit, in tho event Of the re-
Doing
fully confirmed, nitor the most stringent and search
ing investigation, by approved agents, aoloctod,
nominated and sent out on behalf of the company.
Other treaties are also said to be in progress from
which the most important results may be antici-
| pated.
IL is rot, however merely from consideration Of
the quantity of gold imhcddod in the soil, and
which may be discovered and brought to light that
the advantages of the present undertaking can be
fairly estimated and appreciated. We must bear in
mind that the principal ports OF Now sranada
Santa Martha and Carthagcna, arc within twenty
five daye' Gail of our own shores. Early and regu
lar information may thus be anticipated on ell
points connected with the affairs Of tho company
and full and efficient control may DO maintained in
all matters requiring the managers attention.
But there is another feature Of singular impor-
induces us to regard ii with peculiar interest The
contemJ lated junction Of tho Atlantic and Pacific
oceans has long attracted tho attention Of Eeogra-
piers and parties Interested in trade and commerce
throughout the world. Some have advocated tho
construction Of railway, while many have thought
that ship canal would afford the most extraordinary
advantages, by enabling vessels to PASS from ocean
TO ocean without unloading. or what Is technically
termed " breaking bulk by which coasdera bio
time and great expense would be saved and the mari
time iG ercourse Of the nations ofthe earth maternity
promoted, the enormous circuit round Cape Horn
icing thereby entirely avoided. We arc by no
means inclined to deprecatc the benefits dcrvabie
from judiciously planned railway. We believe
That there would be ample employment both for
railway and canal, and that both would prove
muneraiyo; hut if we we've TO be restricted to
Of the two. we confess an unhositutAg preference
for the canal.
Now, the canal, II constructed would lie in the
immediate vicinity Of the district selected the
scene Of ,be companys operations. la his conside-
ratious on the Great lsthmus Of Central America,
read by Captain Fitzroy, R.N., before the Royal
GeograIhi Society. in November 1850, that gal
liant and experienced officer declared that, ''of all
the comparatively well-known routes, il has been
~, A.. ~.
tho most suitable for canal, and the Panama route
for railway. roads, and the reasons for that OPT
Mon are fully set forth by Captain Fitzroy. He
says" From tho inner part Of the Gulf of Da-
rien (eaDed Candelaria, Choco or Culata,) mp the
river A.rato, and along part of the river Nsip
Hairip. and thence across to Cupics Bay, is dis
lance of III miles tby estimation), of which about
10 only are overland. Two-thirds of this distance
(!6 miles) are said to be nayigable for large
ships, aud half tbe other third Tor 10 mics) by load
ed boats. 1t is supposed that canal may be exca-
vated through the small remaining distance Q9
mles) without extraordinary difficulty; and il Is
proved that it might open into excellent port
that of Cupica, in which coyes, perfectly shell
e red. with deep water in them, close to the shore
Curica Bay is spacious, but open TO the southwest
In that latitude, however u degrees north),
southwest winds arc seldom strong; very rarely
do they cause disaster; and, as evidence
that this bay is not affected much by tlem
il may be mentioned that trees grow down TO the
waters edge along the beach, and that there arc no
Thorc is shelter for any ships in sufficient water
each side Of the bay, andloeked The recent survey
by Admiralty order, is quito satisfactory to the
purely photographed part but ofccuse il does not
show the Topography of tho adjacent district beyond
the coast Other concurrent testimony shows that
between the partly navigable portion Of Napi aud
tie Fay Of Cupics, there is tract Of comparatively
low land. through which canal may be cut. That
road osany kind may be made there readily, is
shown by the fact that boat has been dragged
across in few hours
These vitality important points have not escaped
the notice Of the directors Of the New Granada
Company: Clearly perceiying how greatly the
value of the surrounding property would he on
BANGED, and tho independence Of the surrounding
country secured blythe construction OF such conai,
which would insure the support Of all the maritime
lowers Of the gobc-awnre Of the convention
(thc Bulwert rcaty) between England and America,
they eudeavored to carry out the project n IT'S
integrity. On further inquiry they found that
"a concession bad already been granted by The
government OF New Granada for the construction
Of the canal on advantageous terms, and that
certain beneficial notifications arc eyon now under