The New Orleans daily Democrat. [volume] (New Orleans, La.) 1877-1880, 1880-03-07
INTER.UCEANIC CANAL.
10 the Editor os the Democrat:

10 the Editor d the Democrat:
The projected inter oceanic canal, which has
created such stir III the financial, CONNER
Clal and scientific clrclas OF the world, does
not seem to receive Ia this country that
degree of attention from the political world
which its Importance demands. A glance at
the map of that portion of America where the
proposed canal is located Will demonstrates
much better than words eau do how highly
important II IL that this country should get
control~permanen control--of the canal. II
40 the duty of Congress 10 speak out plainly
ana Enthusiastically on this subject. The Mon
roe doctrine, 30 boldly and clearly proclaimed
by President James Monroe, from whom II
acquired its name. is not dead or fossilined
political theory. II is living entity, the
scope Of which IL well remembered and UNDER
stood BY the mass of the people. The expert
ence OF other countries ought 70 be. and Ill
fact is. the warning that has always made
America 80 jealous Of foreign encroachment
on American sotl
There is no time TO be wasted In idle discus
sion. The cardinal article In Americas polttt-
cal faith has been dtsrexarded IN manner
that calls for the Immediate reassertion by
our government Of It's determination to pre-
serve Intact the integrity Of the Monroe doc
trtne. That doctrine is the Alpha and Omega
OF our foreign policy. 1t IL the one distinctive
and recognized principle OF American policy.
II We wish to maintain the prestige W. have
gained In our European policy we must not
let this occasion pass BY Of again impressing
upon the world our intention u never lot Il
European nation ever acquire a foethold on
American soil.
De Lesscps has already gone ahead digging
his canal, with u vain and Mtcawber-ike con-
fidence IN the favor Of fortune to furnish
him the money " complete II that looks very
reckless to theinditferent but to the close ob.
server Ia franRht with deep Significance.
A little reflection on the amount Of money
necessary 10 complete the canal ought to
convince any one that de Lesseps has gov
ernmental assurances OF aid from Europe
One hundred and sixty-eirht millions
dollars is the estimated amount. or
nearly twice the assessed value of the entire
wealth or New Orleans real, personal and
capital 1t taxes creiultty 10 ask one To be-
leve that de Lesseps aud his confreres would
set about expendinx the large amounts sub
ecribed by private Individuals: that they
would incur the enormous expense. and risk
be the consequence of a failure to secure a
full subscription-all In the vain hope that
the visionary promises held out by him of the
comparatively tritilng return OF IL per cent
dividend on the amount OF their Investments
would attract capital enough TO make up the
amount necessary for its completion. 1t ls
absurd to suppose that dc Lesseps can raise
the almost fabulous sum necessary for such
visionary scheme by mere private subscrip-
ton alone. There are too many other fields
for the speculative investor To place his
wealth, holding out more substantial prom
ises In the way OF big dividends, not near as
Missionary In theory, nor as liable to failure
trough lack Of funds.