New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1883-01-22
THE NICARAGUA CANAL PROJECT.
trs ADVOCATES NOT DiscoURAGED-s. LEDYARD
PHELPS ON THE ADVANTAGES OF NICARAGUA.


PHELPS ON THE ADVANTAGES OF NICARAGUA.
lBY TELEGRAPH TO NE TRIBUSE.l
WASHINGTON Jan. 21.-Tbe advocates of the
Nicaragua Canal project were disappointed III
their hope that vote would he reached III the
House session after the holidays on motion TO bx
oay for the consideration of the BILL and the time
IA now very short for the consideration OF anything
except The most necessary business. The canal men
are very well satisfied, however with the progress
they believe the project is making IN Congress ana
in public opinion. As 1t becomes better understood
thew say II IS seen that it Is net necessarily ob'
because the AID of the Government is asked III the
form OF limited guarantee.
CAPTAIN S. Ledyard Phelps, one of the active
promoters OF the scheme who has recently
returned from a visit 10 Nicaragua, gives an
enthusiastic account OF the country, ana
uses as one OF his stIoDg arguments the opportun-
ties which will be opened TO American capital there
Nicaragua has a population" he says OF lrin
100000 to 100000 10 can support 1O,O0O,OOO
The country varies elevation from 1000 to 4,VOO
feet above tine sea. and many characteristics Of
q temperate elm ate. You will see products o. the
temperate zone aud those of the tropics growing
alongside OF eaon other; oranges by the side Oh
wheat for example. There are vast coffee anus
which cannot be cultivated piohtaby,
because at tho present prices it does moi
pay TO take the coffee down the Paclhc
side to Panama and thence to Ncw-fo'k.
With a canal the case would De different. Thee
are magnificent sugar lands undeyeloped Tor the
same reasons The Americans wonld cOntrOi the
trade of the country If the canal should be bullt
aud there will he great opportunities there. lie
Government has stimulated rubber production Dy
Offering recently 10 cents for every rubber tree
nla,ted There are gOo1 mIues OF god and silver.
Z. Perhaps ths most surprising thing about Mica
raqua considering thai it is Spanish country Is It's
coverument and ITS financial condition. IL has no
fore gn debt; there is a small domestic DEBT, which
l. ia a 8 per cent bond. They have surplus
of 100000 or 100000 IN the Treasury,
which is tho basis of paper currency.
which the people prefer to CON- There Is no othef
Spanish country OF which these things are true'
Bernard who was at time Minister Ill Wash
ington, and alter in the NIcaraguan Cabinet, Or
ganized the Government a simple and economi-
cal svsteln 40 that tho revenues are collected
cieaply and honestly. Demands theory was that
the country should advance IN proportion TO IT'S re-
sources and should not run INTO debt. 1hty nave
d general system Of common schools. when was
nc Managua, the capital, they opened young
ladies' seminary with two teachero from New-York
Another thug unlike spanIsn countries is the
pronpg ness and rapidly you see IN administration
Everywhere you it-in their telegraph Offices,
custom house, etc. aud in the general intelligence
displayed The people of Nicarsgna are, OF course,
ycry anxious to have the canal butt"
The bill reported by the House Committee on
Foreign Affairs makes no advance grant to the
terprise rs was done with the land grant railroads,
but pledges the Government, in OF need, TO pay,
after the completion of the canal, three per cent
annually for tw nty years its cost. which Is not
to exceed $75 900. O00-the advance to be reim-
bursed out of subsequent earnings. The expendi-
tures of main Iepanoe are limited 10 $l.0OOOOO an
rually ard tho Government is to be furnished with
fulI statements OF them, 80 as TO know that it
Is being dealt with fairly. The committee
say that ut tho rate of charges proposed 1t VIII re-
Quiro the passage OF only l,30U,OOO tons ahhuaIiy
tnrvu IA tue canal feieye the Government OF all
liability aud it is believed that the amount even at
the outset must be very much Larger. he com
mittee say they "haye 10 hesitation" III recon-
mending the guarantee.
One OF the great features in the companys plans
IL 10 draw emigration the Pacific slope, TO which
Eve great railroads going 20 reach total popu-
iatlon hardly as large ID New-York City, The ex-
Oenss of a railroad trip aud tue fear OF tho uncer-
taIutes and perpiextles OF II defer the poor emil
grants What a difference IL will make" says
Captain Phelps when the emisrant steps On the