The New York herald., 1879-08-09
M. DE LEssEPs' SCHEME.
[corresp ponaence of the Pail Mall eazette.l

Correspondence of the Pail Mall Gazette
PARIS July 20. 1879.
The weighty matters before Parliament and our
little wars have been monopozing public atten-
ton to such degree that hardly any notice has
bsen taken OF the grand schemes of NJ. Ferdinand
de Lesseps for the piercing of the lsthmus
of Panama. That any undertaking pa
tronized by the, famous French engineer
should deserve the most c,reful consideration
need hardly be said; like NJ. do Lesseps do not
lend their names to doubtful schemes But, Just US
for instance in Germany the fabric of tho state
rests on Prince Bsmarcks broad shoulders. threat
ening to collapse the day his master mind will no
longer be there to control hostile forces.
so it is with this enterprise; what
would become success in NJ. do Les
seps' hands may turn out failure If he is not
allowed to see its completion. Now, NJ. de Lesseps
is past seventy. and the piercing Of the Isthmus
of Panama will not be done in day. And 1t would
be rash to overlook that the capital wanted is
NOUS and that after all there is at present little
rity for it beyond the well earned fame OF the hero
Of the Suex Canal. On the 9th inst. the promoters
OF the Panama scheme signed agreement with NJ
de Lesseps selling him their rights concessions
for q sum of f400. 900; and NJ de Lesseps on
n circular tour endeavoring TO interest the French
people assist him in the execution OF his schemes
or, rather. OF the schemes OF others, bought
so TO say. ready made The question arises. there.
FORE Is there sufficient guarantee for the public
that the preparatory work. done not by NJ dc Les
seps but by third parties, be salts actorly car
ricd out? No one doubts the good faith
Of NJ. de lesseps. but one may well ask
on whose authority NJ. de Lesseps is rely
ing for his calculations We hear that the
"tttdes pyeti'nfndt,es have been made by French
naval officer not by any engineer of repute; and
is justified in asking whether this gentleman is suf
fciently competent to be implicitly trusted in mat
wishing to throw cold water on the idea.
which deserves the support of all nations;
but the very Importance OF the under
taking ought to make capitalists careful. 1t would
layed by first failure; and II is the wish OF seeing
il crowned with success which induces to
point out q few clouds on the otherwise bright
horizon. It appears that the original
sion granted by the government OF Bogota
to the promoters contains two little
obligation that the preliminary work should be done
by q committee Of engineers Now as said already,
this part OF the undertaking had been entrusted
to French naval officer, not to "une COM
mission dgsnieurs. But therei is another stipulation
far more important-th,t is. the right reserved by
offers from third parties, after payment by the
promoters of deposit of ESQ. .000 II is distinctly
said that il any higher bid should be made the gover
ment of Bogota is at liberty to cancel the first
cession. the present conces ssionnares having only
the refusal-i e. il they choose to outbid
the last bidder the concession may then
be knocked down to them. Now
hear that the United States government is consider
ing ut the present moment the advsabity OF offer
ing higher deposit with Wow OF acquiring. coite
que cOdte the sole ownership of the sthmus. and it
may not be easy to "outbid" our American cousins.
1t is therefore. evident that the scheme is not quite
without danger, though, of course, NJ. de Lesseps
may overcome its difficulties.