The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1882-07-22
NIsaraRua Canal Bill.

NAc8EaRUa CH4hA BILL
Washington, 20.-The House .oreigl
affairs committee has been engaged
nearly every day during the present weel
in perfectipg q bill providing for the con.
structlon Of 8 Nicaragua canal. The ses
sions Of the committee b ave been secret
and little Is known of the result of its de-
| alterations. Il is understood, tonight
that the original bill has been materially
changed, but the clause guaranteeing
per cent. interest on S75 600, 600 stock hai
been siiminsted, and that the bill as it ii
will be reported, and will simply give 8
charter to the gentlemen named as incor,
porators, and not confer government aid
II is not known what protection the CON-
mittee will recommend to be given the
company.
Washington, 81 Mr.. Kasson, from
the committee on foreign affairs, re-
ported, this morning, substi ute for the
Rosecrans bill to incorporate the Mari
time Canal Company of Nicaragua.
The bill provides that the canal shall not
be less than Is :eet in depth, $50 feet in
width on the water surface, and shall
have locks not less than 600 feet in
length, aud that it shall guarantee that
for twenty years after the cempletiop OF
the canal and commencement Of the pas
sage of vessels through it, the net receipts
from its traffic shall not be less in amount
than per cent. upon the total cost of
the canal, which cost shall 10 no event
exceed $75, 000, 000; not more tn An 81 900.
600 to be deducted from he gross receipts
to defray the expenses of management,
superintendence, maintenance and opera
ton ofthe canal. 1t ssO provides that
the charges for transit of vessels through
the canal shall not exceed 81. 80 per ton
weight or of forty cubic feet measure
ment, but the company may, ct its OPP
ton, charge not exceeding SLIPS per ton,
actual displacement Of any vessel when
In the canal. It also provides for
the reduction of the rate of charges
whenever the net receipts shall
exceed 10 per cent. per annum on the
capital invested, and that government
may at IFS pleasure occupy and manage
the canal on the psyne4t to the stock
holders or per cent. on the capital i'd
vested. The report on the bill is q strong
document. Il declares the importance
to the United States and to Err glRnd of
the proposed work, and after abiding to
the inefectiveness Of the arrangement for
the accomplishment Of the work made
between the two governments under the
tresty Of 1859, and says: THE relative in
terests Of the countries in question have
been so far engaged by the development
OF our agricultural aad commercial in
dustries Of the Pacific Coast to vastly in
crease the interest Of the United States
in the enterprise, and to make it indis-
pensible that the political aud CONNER
cial control of the United States over the
work should be secured beyond doubt or
question:" It also asserts that the wealth
of the country has so enormously in
creased as to put it in the power OF the
people of the United States to accom-
plish the work without such foreign aid,
as was contemplated thirty years ago.
It declares in favor of the NicarAuguan
route as sgsins. all others according TO
the judgment Of the commission Of gov
eminent engineer, who made an exami-
nation of the route in 1870. The relative
commercial advantages of the NlcSEau-
guam and other routes is considered ID the
report and the committee think the Near
augusn route possesses great advantages
for the reason that it will give al almost
direct route sSuthWsrd from American
ports, while the distance added to Eu-
ropean navigation will be nearly equal
to the distance from America to Eu-
rOpeAn ports, which the CO nmittses thiak
will be an aid to American commercial
interests. The report estimates that Co.,.
600 tons of freight will annually avail itself
OF the Nicsraguan route, which at $3.50
per ton will more than secure the 3 Per
cent. on SIS, 100000.
The com mittee, Ia concluding the re-
port, say: "The government subjects it
self to criticism by logger remaining in
the attitude by Directing to the opening
of 40 inter-ocesnic canal under other
national auspices. Will it refuse to Sc
cure it under its own? II not under the
protection OF this government the at
tempt will be made to accomplish it un-
der the open or implied protection Of
another. If the United States will not
themselves do the work. it will be
claimed that they cannot with justice
present themse yes IS an obstacle to the
action of those who are ready to exc
cute it