The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1882-12-27
De Lesseps' scheme referring.

Philadelphia, 25.-PTeSS Washing
ton special: Recent reports from
Paris show that a serious decline has
occurred in the stock Of De Les
seps' Panama canal scheme and
from all appearances it is probable
tnat it will never recover entirely
from it. There are numerous causes
attributed for this fall, but the chief
one is the apparent lack of any
progress in the work, although De
Lesseps has already spent nearly
$2O,000,000. Nothing like an ener-
getic construction of the canal has
as yet been Commenced and even the
route over which the canal is to be
cut has not yet been located, in all
its parts, Notwithstanding the pub
lie assurance of the company to the
contrary. The most of the first
calls for money have been spent and
another sum of 50,000,000 francs is
soon to be called for, so that Ger
tain number of stockholders begin
to suspect, atilast, Of that $4,000, 600
affixed by De Lesseps in the first
place as the cost of the canal was
entirely a fancy figure and it is re-
ported that within very few days
De LessepS has been heard to say
that perhaps after all the canal
might cost 1,500,000.O00 francs.
Again they say the purchase of the
Panama Railroad does not give sat-
isfactiOn to those who have closely
studied the question, If the canal
was finished the railroad would be
almost worthless property and this
is considered a piece of bad man.
agement to divert nearly 100000
francs so early in the speculation
from the more essential work of try
ing to get the canal under construc-
ton. In a letter to Admiral
Ammon. John Johnston, an Amer
can delegate to the Paris canal con-
gress of 1879, comments severely on
the methods OF De Lesseps and his
fiends in pushing the canal scheme
on the market and predicts the
utter collapse of the whole affair.
He says it seems very clear that the
present scheme of the canal at Pan
anna can do nothing else than termi-
nate in disaster so that before long
we are going to be brought face to
| face with an important and pre-
dominating question of responsible
ity. To this question l ask and i'm.
plore the most earnest attention OF
the public, for in this lies a trouble
wrapped:up and vexatious,it may BIT
even something more than words
for the future diplomacy of thu
United States. He thinks De Les
seps will throw the responsibility
, of the failure on thu government
and people of the United States
and would have Congress and the
executive anticipate this action BY
exposing to the French govern
ment the paEpably immoral manner
in which the scheme was placed OF
J the market for it was decided i'm
morality to endure passive mis-
representation in the thinneSt ant
most obvious of receptions, in th
> want Of all semblance of dignity
Nothing like it has been seen il
. this country. Johnson then re
counts numerous devices employe
to interest French bankers in thu
l scheme, the formation of a syndi
cate to buy up "Bounders" stoc
and DeLesSeps repeated the assur-
ance after his tour in this c0untr
of the corporation and consent Z
United States. He continues: L
all this orgie of unmitigated, III
controlled peryerion of the publ
mind not one line, not one word 0
contradiction came from any sourc
; to act as an antIdote to thepoisOn,s
that many Americans, even thoS
living abroad finished by selling TO
Panama loan. To this day not on
word of anything but praise has ap
peared in any French paper of an,
, Importance. whatever, notwith
standing the large number of death
among the foremen sent out by til,
company notwithstanding that bu
little progress in the execution o
the work has been made and thd
money is fast melting away, tn
entire press continues to assert dali,
that the health of the men is excel
lent, and that work is progressing
rapidly.