The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1879-12-22
THE CANAL AGAIN.
To THE EDITOR OF THE

To THE EDITOR OF THE HERALD
It Is my conviction that N. de Lesseps took false
step when he invited subscriptions to his Panama
canal before having an absolute security not only
Of the possibility OF the work in material SENSE
but Of Its real estimate and comparative cheapness
to the enterprise and to commerce at large. Ny
position is amply sustained by the results. Tho
subscriptions were meagrs and anybody but M. de
Lesseps would have been discouraged But he was
not and instead Of cowardly forsaking his bold
scheme. he who has made great canal for the Old
World and is bent upon making another for the new
one. has gathered able engineers from France. Hol-
land. America So. and Is to-day within q weeks
navigation Of the isthmus to infinitely and do
cisively survey his chosen route. After the advo-
Gates of the canal through Nicaragua have virtually
admitted the necessity Of studies on the field
nobody who cares for General Grants reputation
would like to him initiating M. de Lesseps' pre-
cipitanes aud untimely putting himself at the head
OF an undertaking which at all events 10 In very
crude state. Far from me to criticise the action
pecting that his name will make the millions
come forth in their aid, before they
raguan government. which strangely is counted
tor naught in the Transaction. have doubt that
the projectors act in perfect good faith. and that
their haste IL mainly due to the dosire OF running
competition to N. de Lesseps who is apparently
ahead III the race. But when they take every thing
into consideration they will distinctly that their
hurry is unnecessary II is useless And il they
do not General Grant will 1t for them. In effect.
when respectable corps Of engineers
embodying such names Totem. Dirks. Tsgan. &C..
are on the point OF carefully examining proposed
route for u canal. about which many q favorable
opinion has been already entertained. and which
counts upon the energy Of NJ. de Lesseps II said
survey and report be all that the interest of the
world require. no sensible American or French
English capitalist would venture dollar in the
contemplated Nicaragua route. II. on the other
the S as " d A. se
difficult and expensive that capital must OF neces-
sity shun it. IL there not then magnificent chance
for tho Nicaragua route, aud for my pet, the San
Polas route aud for the parties concerned to calmly
aud easily enlist the necessary supporty
not blind to the fact that what alarms
the bond fde advocates OF the Nicaragua
route is not precisely that the rival Of Panama
is going to take away from them any special and per-
sonal advantage; what sctuates them not exactly
the unqualified persuasion OF the superior merits OF
their schcne. It is rather te quaint idea that
the Lesseps undertaking Is thoroughly French con-
Germ. and as such will be under the control of the
French government. 1t is feared that the work.
interference this continent. and the American
spirit revolts against that possible emergency.
the frat to oppose the De Lesseps project for no
one is more jealous than OF American indepen-
dence and American influence on this continent But
1t to that the apprehendod evil Is de-
fusion. The Panama canal aud the Nicaragu canal,
any other canal will substantially be similar to
the majority OF the stockholders. II Americans
want to wrench from NJ. do Lesseps' hand the scep-
of the Panama scheme, alter his new survey
proves satisiactory. let them come forth and sub
scribe tor half the capital estimated; or. what is.
Perhaps more sensible let them wait and II tho
capital is subscribed by French people and then
ernment did with the Suez Canal stock. Who has to-
day the control or the Suex Canalp It seems
because they hold onethird Ut the whole stock. and
second because the larger part OF the trade passing
the same thing would happen with the Panama canal
In regard to Americans IL the government or nero
% were 70 large sas tho OF the
stock was to be taken by French capitalists alone.