, 1882-10-14
WI. de Eesseps and the Panama
Canal.
From the HpectatOr)

The French, it is clear, have not lost
their confidence in NJ. de Lesseps. They
think him still the most successful of
modern spectators, and have this week
responded to his demand for funds for the
Panama Canal by a tivefold subscription.
1t is believed that the applicants for the
100000 shares offered on Tuesday will
receive scarcely a fifth of the number they
have applied for, and the our neceS-
Sary to carry on the undertaking are there
fore assured. No sum so large as six mil
lions sterling-the sun already invested
will be thrown away for want of a few
more millions to complete the work; and
the French, though no doubt penuriOuS and
ov~er.anXiOus to profit by temporary rises
on the BOurSe, possess, as they showed in
the construction Of the SueZ Canal, a good
deal of financial tenacity. Their very
ignorance, which is much greater than
that of ordinary English investors, and is
often, indeed, complete, induces them, if
they trust their leader, to overlook the
obstacles in the way, and hope on conf
IDENTITY to the end. On the other hand, the
popularity OF the scheme in England does
not increase. There has always been a
certain diStruSt here Of these vast enter
priSeS, shown in the refusal to buy Supz-
Canal shares, in the criticisms on the
great Alpine tunnels, and in the absence
Of any effort TO start similar international
companies; there is a lurking dread Of
complications with the American Govern
ment, which. no doubt, watches the project
with deeply rooted jealousy; and there is
a profound annoyance with NJ. de LeSScpS
for his recent conduct in Egypt, especially
his outburSt of bitter anti-BritiSh feeling.
The English, therefore, are far from eager
for the project. They do not, it is true,
either oppose or condemn it; but they are
not pleased by NJ. de LeSSeps' success in
raising money, they expressed no regret at
the earthquake which, on the 18th inst,
destroyed SO much of the Panama Rail
way, and pro tdRtO impeded the work, and
they exaggerate all the difficulties caused
both by the climate and the want of
population.
We think the French are right, and that
our countrymen are showing little wisdom.
1t is absurd to be so much annoyed with
NJ. de Lesseps for displaying the defects of
his qualities. A man of that kind, who
has for thirty years carried on a great
work with an energy and persistence such
as we are too apt to believe monopolies of
our W countrymen, who has achieved an
immense success, and who has governed
his great Company like a king, can hardly
be expected to be content, or ever reason
able, when the people who all along have
resisted him, have criticised him, and have
countermined him, suddenly depoSe him
from his royalty. Captain Fitzroy may
have been courtesy itself, but one seldom
does justice to the courtesy of a burglar,
and that was NJ. de Lesseps' natural view
of Captain Fitzroy. NJ. de Lesseps is a
great Frenchman-in his own way, the
greatest Frenchman alive-and, like all
great Frenchmen who ever lived, is very
proud, very patriotic, and morbidly sensi-
tive as to his own position in the world, To
see the English in Egypt, occupying the
Canal, debating its management, and
treating himself as a mere individual,
must have been to NJ. de Lesseps the kind
Of blow which overturns mems reason.
He was not bound to wish for England's
or even to abstain from helping
Arab. Naturally, he said and did impru-
dent things; but the English, with eighty