The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1879-11-26
Favorable Outlook for the
Nicaragua Canal.
FACTS AND FIGURES FOR GENERAL GRANT.
The Presidents Message and Action Of
Congress on the Subject
FROM OUR REGULAR CORRESPONDENT.

WASHINGTON, Nov. rs. 1879.
THE NICARAGUA cANAL-IMPoRTANr EVIDENCE
AND STATISTICS REGARDING THE ENTERPRISE
TO BE SUBMITTED TO GENERAL GRANT.
Mr. Thomas De Franco had long interview with
Admiral Ammen to-day in regard to the Nicaragua
Canal and the documentary evidence submitted more
than confirms previous reports of the willingness OF
French capitalists subscribe largely for the stock
of company 1t is understood that the statistics
of trade show that the probable revenue the hrst
year the canal is in operation would be nearly
Si0,00o.0OO. The toll would be fixed at not less
than So per ton. and the Nicaragua route
would be available for sailing well as steam YES
sells, it believed that the construction OF the canal
would change of all the trade of Australia
New Zealand and Japan with Europe 1t Is not gen.
orally known that the expenses Of the Suez Canal
are little more than one-haf the receipts. and the
business of this route is confined exclusively to
vessels. The stock, though only paying three
per cent, is in demand, more probably on account Of
the permanency of the investment. The cost OF the
Suez Canal nearly 500 600 900. the same amount
that it is calculated the Nicaragua Canal
will cost, though the general estimates do not put
it above $50 100000: With all the nconvenionces of
the locks vessels could easily be passed through
every day. but the estimates show that if only
ordinary tonnage only went through at the rate Of
eight day. the financial success OF the canal would
be far greater than the Suez route, and European
capitalists would be glad to invest in it. It
will thus be seen that but 5000 vessels
have to pass through the canal in the
course of year to enable the company to pay not
less than six per cent dividends The statistics of
commerce with China and Japan. together with
the advantage which vessels destined for England
and France would have in going and coming via
Nicaragua. have convinced the most eminent French
engineers it is said. that the construction of the
canal by this route is imperatively demanded in
the interests of commerce. amity and navga-
ton. The risks would be diminished and
the carrying trade increased that the saving in
premiums and fuel on steam vessels would
than pay the tolls exacted by the or the canal
route.
The foregoing some Of the facts which will be
submitted to General Grant his arrival in Phia-
delphia next month him Of the solidity of
the enterprise business matter The sta
tistics are taken from the latest reports
ceived at the Bureau of Statistics and en-
brace the tonnage Of vessels exclusively Ameri-
can engaged in East Indian trade; foreign
vessels engaged in the same trade with ports of the
United States. British vessels trading with South
iAmerica. Australia and New Zealand and Eu-
ropean ports; in word, the tonnage Of
vessels whose interest it would be to now
use the Nicaragua Canal. These show that it
would be paying investment the very frst year.
with every probability of the revenues increasing
from year to year. For the rest. it only remains
for the engineers to proceed at with the work.
and personal friends of General Grant feel confident
that when tho business aspect OF the scheme is pre-
scented to him with these statistical facts that he
will promptly accept the responsibility OF securing
~ d,esI Tho
company.
OCEANIC CANAL QUESTION: RESOLUTION TO
DE INTRODUCED IN coNoREss-PosITtoS OF
GREAT BRITAIN.
1t is understood that the President will, in his
forthcoming message aude to the project for build
ing interoceanc canal and the favor in which the
Nicaragua route is held by eminent engineers.
He will. it is said, set forth that such
an enterprise must be under the control
of American company. ana such it
would be protected by government.
Not only will the message take this ground, but
during the first week of the session. If possible
the first day OF the meeting of Congress- there will
be introduced in both houses the following joint
resolution with the intention of securing its passag
under suspension of the rules. at least final
ton before the holiday recess:--
Whereas the project for the construction of an
interoceanic canal via Nicaragua is recognized
necessity for the prosperity OF the Of the
world and the development of the maritime and
commercial interests of the United States; and
whereas such an enterprise must of necessity be
considered Of international utility under the pro-
lection of the government Of the United States;
Resolved by the Senate and the House Of Repre-
sentatives, &C., That the government Of the United
States pledges to accord full and entire protection
the company to which shall be granted the conces-
sion by the government OF Nicaragua for the con-
struction of said interoceanc canal, and will SECURE
to said company the peaceful enjoyment OF the
rights conceded by such grant.
The passage of this resolution it is said, would be
more agreeable to General Grant than any honor
that bo bestowed by Congress. As he is to meet
number of prominent business men Phila-
delphia during his visit there next month IL IL
commended that the passage of this resolution
would be the first step in the right direction.
There those who say that the friends
of Presidential aspirants in both houses will give
the resolution their earnest support. believing It
will help to strengthen the views Of General Grant
friends who may be called upon to advise with him
when the business details brought forward ut
Philadelphia In this connection IL Is stated that
the passage of the resolution win be followed by
authoritative announcement from leading banking
house in Europe of its willingness to assume sub
scriptons for twothirds of the entire amount nee
essary for the construction of the canal.
1t is now regarded not improbable that promi.
mont Southern members win exert their influence to
keep out the bill proposing restore General Grant
to his former position in the army, the Gulf States
particularly being directly Interested in prom citing
of the canal and the representatives in
Congress- 1t is sad would regardithe passage Of the
above resolution personally intended to aid Gen
erai Grant in becoming president of tho canal com
pany.
1t is alleged that under the Cayton-Bulwei
Treaty, which concluded between the United
States and Great Britain April 10. $780, that Grea
Britain is equally bound with the United states ii
securing the protection Of the canal whenever con
structcd. If the Nicaragua government should max
the concession exclusively to an American compan.
1t releases the Of Great Britain from tn
necessity of using its friendly Offices in securing tn
concession, while the Joint resolution proposed Il