Idaho weekly keystone. (Ketchum, Idaho) 1884-1884, 1884-07-26
A SPECULATION IN CANALS.

The rumors OF the financial trouble
OF the Panama Canal, that have bee
telegraphed during the past two o
three days, may have some foundation
in fact, but are more reasonably to b
attributed to stock speculations in New
York.
1t was evident from the Congressione
reports a month ago that grand scheme
was on foot to "benr' the De Lesseps
speculation on that Isthmus. Political
necessities nppertaining to the APP
| preaching Presidential election, and FIR
ing the American heart, perhaps con-
tributed to the animation OF the debats
ut Washington; but underneath this lay
the gigantic job in Nicaragua. This was
exposed by the request of the present
Administration for an appropriation for
$3.50, 900 TO be used MS a secret service
fund. While no member of the Com
mitiee on Foreign Relations felt ut lib
erty to explicitly explain the purpose
! Of this fund, ii cropped out Tint it WAS
| wanted 10 ''grease the wheels" OF the
Nicurnguan government and officials, and
secure transfer OF concession. or mo-
nopoly, held by Morgan, Grant. AM
men, Phelps and others, from that gov
crnmcnt, authorizing them to construct
canal over the Nicaragua route. 1t
was proposed TO take the interest of this
company of their hands, and transfer
II to the United States.
The natural seqial, Of course, to this
proposition would be for Uncle Sam to
take virtual possession Of the route,
roll up its sleeves, get an appropriation
OF few hundred million for steam
shovels, and put ten thousand men ut
work cleaning out the San Juan River.
There stood, aud still stands, in the way
Of this proposition. the suggestion that
Is unnecessary; that one can do MI the
work Of the worlds commerce; that the
national interest of the American govern
ment over the canal can be fully main
tanned by treaties with foreign powers
But II De Lcsseps fail in his enterprise,
then comes the opportunity for the Mic
aragua project and Its spectators.
Spectators, for no such enterprise as
this could be carried through without
someone handling the millions that
must pay for the work, even if the pres
ent holders OF the concession make a
present Of their right to the American
is first to be found in the failure of the
Panama canal To break that down,
destroy its financial credit, and weaken
the conndenc Of the world In its feasi-
bility, will be the aim and effort Of the
powerful financial ring who nre anxious
to break through the forests of the
Northern route. Telegraphic dispatch
es Of disuppontments, miscalculaiions,
d. sertions, and troubles generally can
be accounted for and expected. They
will continue to predict failure and dis
sension; they will suggest danger of for
eign interference and entanglements;
the necessity OF one trans Continental
water route, md that exclusively under
control of the United States.
After all, they are very likely to even
TALLY succeed. Though it will require
IN admitted hundred million, and prob
ably twice or thrice that amount, the U,
| o. tItuSu'y is bNtfHpNlHS Will super
| fiuous revenues, and schemes by the
score are on foot to rake her on every
side; and this project possesses peculiar
plausibility and ethactiveness in this
daring, speculative, and aggressive age.
| Men ask, what right have we to con-
struct a canal through foreign countryY
The answer is ready; we have a right TO
protect this country from every avenue
| Of attack or invasion. The law Of self
preservation is paramount. Mr.. Eaton
we'll expressed the idea in Congress re-
Gently when no said; s'We have out
grown the old Monroe doctrine. We
are every day and we have been for
years, going every day further than tho
old Monroe doctrine ever went"
Pungent Paragraphs.
Ia n 1,,ton ,,t1,, u,