New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1881-01-01

Dhs Panama Canal cannot be done. De Lesseps adds,
y bis estimate 25 per cent for engineers contin-
Eencies" sum which any reputable engineer, like
Allan Campbell. of New.York, would say is ridicu-
bously small. 1t should be at least 100 per cent
FOR such work as is proposed at Panama The deep
III cut we shall have on the Nicaragua route will
be forty -one feet deep and only three miles in
hength. The nature of every difficulty to be sur
mounted ON the Nicaragua route lie thoroughly un-
hosstood and the cost of surmounting it can BIO ac
cuntely estimated. That this is true Of our esti
mates is proved by the fact that well-known New
York firm offers to contract to perform the dredging
and rock excavations under water for the amounts
fixed in the estimates"
How soon can work be beGun on the Nicaragua
Canal and how long time will be required to COM
plete it Z" asked the correspondent
Work can be begun on both ends and be we'll
under way in q twefve-month. The canal can be
opened for business in five years from the time
charter Is secured from Congress-"
Ii the canal should be built. what would be its
EFFECT upon the transcontneLtal ratlroadsf"
II believe it would be beneficial Population
wonld rapidly flow into the Pacific States
and Western Territories from Europe. as
soon as immigrants found that they
could take steamer at o European port and he
handed In California or Oregon. They could be car
ried for $40 each. The future prosperity of the
railroads will depend to very great extent upon
the density of population in these States and in the
interior of the continent. European immigrants
will not settle there rapidly now account of the
expense aud difficulties of the journey. So far as
the carriage of freight is concerned, suppose
that heavy and cheap products will never
be transported from the Pacific to the Atlantic
Coast by rail There is some point in the interior
beyond which it becomes Improbable to transport
such freight from either coast OF course. @ canal
would never interfere with the great interior traffic
of the railroads. Their passenger traffic will be-
greatly augmented rs the country becomes more
fbickly settled and that result would be realized
much sooner with than without canal
Is that of
Is built great part-probaoly nine-tenths-of its
earnings for long time to come will be derived
from American farmers and manufacturers. Were
1t not for the trade they furnish nobody would ever
have thought the canal enterprise practicaDle one
Now ougt the United States to conde that trade 70
Government II the Panama Canal should be built
and an American shipper should have any difficulty
seek redress in the French courts. Any American
citizen who has ever tried that once will never do II
again
Congress will pass the Monroe Doctrine resolutions,
and incorporate the Nicaragua Company before the
end Of its present session, Notwithstanding the oppo-
stion that is being brought to bear by the promo
ters OF the DE Lesseps scheme
A PARIS VIEW OF DE LESSEPS'S SCHEME.
THE CITY PLACARDED WITH FLAMING ADVERTISE
MENTs-THE PROJECT DENOUNCED BY SOBER
MEN AS GIGANTIC CHARACTERIZATION OF
BEING FOUNDER IAN ENGINEEI's OPINION
fYRoM AN OCCASIONAL CORRESPONDENT OF TIKI TRIBuNRI
PARIS Dec. 10.-The Ode Lesseps Panama
d. Scheme has been openly launched upon the Paris
market. and is to be presented to the crednty of
such of our people at home as may be weak enough
60 invest in it, Ii well understood here in certain
circles that the object of putting 1t upon the mar
ket at this time is to foresta adverse action Of
the American Congress. tor the news of any such
action received before sufficient subscriptions had
been obtained at least to cover the advances made
by the Syndicate" for the first OUTLAWS, might
prove fatal to the plans of the schemers.
No quack medicine was ever pulled in newspapers
or offered by a charlatan in public square with a
greater flourish of trumpets. Hand-bills advertls-
ing it, OF different colored paper, the walls
on the public thoroughfares many of the
newspapers have been bought up, and publish from
day to day articles advocating the bubble and one
can hardly purchase anything in the largo magazine
he nomreaaes without having the purchase sent home
together with some paper recommending the scheme
as an investment. In short no circus hsndb lis and
advertisements can equal the mendacty exhibited
In the publications put forth by the patrons or the
De Lesseps scheme. Indeed, this scheme N .cht be
stigmatlzed by much harsher term than that of
mere humbug." were it not that it is only the
blindness of the public In moments of excitement
which can account for the fact that the project is
not at once secuted as huge draft on ereaGlity.
Tue real purpose, the 81 true inwardness," Of the
scheme lies in the nineteenth article OF the
contract or notarial act Of association
constituting the company. This states
that 10 per cent of the shares are to form prvi-
eyed series of shares Of stock for the Founders Of
Company! If the whole stock should be realized,
this privileged >" por ii on would amount to about
3O.00O,OOO francs or $6,0O000o. Was there ever
IN more barefaced announcement In truth, DE
lesseps is dash man ana bis immediate surround
ings are fash His pecuniary needs are great. He
not only wants money. but he wants much oft. HIS
liabilities are great; but l am much mistaken il he
has not this time torn off rather too much OF the
veil which has hitherto hung over his schemes 1
thiuk you will now see fall in Suez stock.
Indeed it has begun already; but 90 much Of
that stock is held by ENGLAND that 1t will
not 20 below o certain poiRt, for the Suez
Canal is necessity now for England. Unless De
Lesseps can call into life again the folly that
marked the days Of John Law, and stimulate the
excisble feelings of his countrymen to the verge OF
madness which doubt. rather think he will have
10 remain content with the life annuity Of 100000
francs per annum which believe the SueZ Company
pays him for his interest therein. He will be lucky
II nothing worse happens to him. But $4,000 per
,nnum Is mere drop toward meeting his lavish
hess.
As for any canal being made across the Continent
by virtue Of the Panama scheme of De Lesseps and
his eonsorts. I have never believed in its accom-
paishment since the sittinRs OF the first Congress-
There Ia believe abont much probability Of such
. canal being made rs there 10 Of a double track
railroad from Lake Nysnss to the Dog Star. This