Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1883-01-05
TIE NICARAGUA CANAL AND EExr.
TKALITY.

After all that has been said against De
Lesseps he once more proves to be great
genius. When he was in this country facts
and figures were set forth in many of our in
huential journals, intended to prove that il
his Panama canal were constructed it could
never pay, as it would be cheaper for ship
ping, with all the loss of time involved, TO
pass around Cape Horn than to go through
that canal. But now there exist projects,
one of which is under the consideration OF
Congressional OF the Nicaragua canal-for
a canal to compete with the Panama canal.
Facts and figures are now making their ap-
pearance in proof that canal across the
isthmus is project that will pay. In other
words, De Lesseps is acknowledged TO be
right when he asserted that such 4 canal
would be a profitable investment. The
Nicaragua canal is put forward as worthy OF
the guarantee OF the United States, 10
the extent Of assuring the company
that buiid it an income Of three
per cent. upon IFS capital stock.
The committee of the congressional
House of Representatives have reported a
bill providing, among other things, for the
payment Of the said three per cent. for
twenty years on capital not exceeding $751;
O00, 900. According to report made to the
President by the American commission that
explored the American isthmus with view
to discover the best route for a canal from
ocean to ocean, it will begin near Greytown,
Nicaragua, proceed by canal to the river
San Juan, along that river to Lake Nicara-
qua. AT Rio del Medic the canal win be-
gin again and proceed 90 Rio dei Beito
upon the Pacific COAT. The highest
point /. Lake Nicaragua, 1os fesf-aceord-
lug 10 later authority, Childs 1884 feet
above the ocean. The totsl distance from
Greytown to Brio is 1914 miles; to Lake
Nacarsgua is los miles, iorty-6ye by canal
aA.1-si1sysgkrs BY navigation; by Lake
Nicaragua, ffty-si1 miles; thence down TO
the Pacific sixteen and one.quarter miles.
Ascending from the Atlantic to the lake will
require the construction of four dams on the
San Juan and ten locks, and ten locks on the
descent 10 the Pacific. The depth of the
canal is 70 be twenty-six feet, the locks TO be
400 BY seventy feet. Twenty locks. ten ef
them within a space OF sixteen miles,
hardly strike the mind favorably as
compared with the Panama canal without =
lock. But, it is said, the Nicaragus canal
will cost less 10 build. Should this be So,
the maintenance of canal without locks
must cost less from year 10 year than that OF
a canal with twenty of them. There will
also be twenty intervals of delay and twenty
liabilities to get out of repair that the level
canal is not subject TO. The bill offered in
Congress has in article 81 a provision that
brings in a serious international difficulty.
II says: THE contractors, the Nicaragua
Canal Company and the Nicaraguan govern
ment reciprocslly agree,whenever Nicaragua
may think it desirable, to take measures with
respect TO such governments of America and
Europe as they desire shall guarantee the
neutrality of the canal, with the view to So
liciting the necessary conventions based on
the Clayton-Bulwer treaty. If our finances
are to pay the twenty-year three per cent.
and in case of deficiency as much SIS will
make that amount of interest to the stock
holders-why should not the United States
be the party to guarantee neutrality? Why
should other nations be given the authority
over the canal that arises from their posi-.
ton as guarantors of its neutrality? As far
as we are aware, the United States have
nothing to do with guaranteeing the neu-
trality Of the Suez canal in the Old World,
and why should the governments there have
the power to interfere on this continent?
The Clayton-Bulwer treaty, the English
claim, gives them this power. But this
country had this power over the Isthmus of