New-York tribune., 1886-03-31
p1NAM1 CANiL FABLEs.

PANAMA CANAL F1BLEH
NJ dc esscps has earned the right to be re-
gnrded n, slo most distinguished fabulist OF the
ninctec .lA century. In literature the con-
tr,versy letwecn Idcalsm and Realism has had
but barren results. 1t has been reserved lor
the celebrated constructor of the Snez canal
10 demonstrate the value of the former doctrine
when applied to real life TO show how Whole
nation may be induced to entrust It's earnings 10
one who. without troubling himself about what
il, allures them by glowing pictures ot Whac
ought to be- From the inception of the Panama
Canal NJ de Lesseps has proceeded on this pro-
found principle From the day on which he
assured Franco, on the strength of an old map
of the Panama Railroad, to the feasibility and
facility of the Canal, down to the day when IN
calm defiance of the facts and figures accessible
to all the world, he told the correspondent OF
TIE TRIBUNE that the work would not exceed
the original estimate, but that 1t would cost
1920 600, 900, he has steadily pursued the
same remarkable course.
To-day he il in difficulties Somehow it has
come about that the Idealst method of build
ing the Canal has failed to sustain public con-
idcnce The constant and intrepid conceal
mcpt OF pcrvcrsion of facts presented by Nj. de
LrsscpS during the past six years has not pro-
duced exactly the results contemplated. 1hs
is partly attributable to the behavior of odlous
Reaists like Mr. Rodrigues and Lieutenant
Wyse, who will insist on putting awkward
statistics before the public who not only assert
but demonstrate the unrcaty of the LcsSep-
pian represrntations; who cruelty show that
% the Canal cannot be bnilt III anything like
the time allotted (2) that it cannot be built
tor less than double the original estimates; l3)
that when it is, or if it il, finished, it cannot
possibly produce anything more cXharatlng
than n perennial deficit. The rcmorSecSs
Realism of these ntrrm"ddling persons has
dealt an almost fatal shock to the beautiful
ldea,I.m of VI. de LcsScps. He finds Canal
stock trembling ominously. He finds the con-
Gdcncc of the French shareholders becoming
feeble He finds the Government looking as-
kaucc upon his proposal for lottery loan. He
finds the callng-in of the second mocty Of the
GXcd capital of the company difficult opera
ton. Under these adverse circumstances il has
naturally occurred to him to get mp one of his
characteristic InSpcction~,' and to rraSsurc all
the world by rebuilding his protcst1tions and
rccolorng the gorgeous pictures with which he
first aroused the enthusiasm of confiins in
vc,torS
But hc has made the painful discovery that
notwithstanding his assurances the stock still
falls. and that whereas there remains ln hand
but G0. GOO. 900 francs and available only the
second half of the capital the work to be- done
requires at least GDuUuO,oOO francs. AID it l.
not couspcuou,ly apparent where this = 10
come from. - hc talks freely. # not frankly,
to a correspondent of THE TRHyNE, and re-
pcats nh hi. old fables with an assurance 50
profound %. 10 be- almost pathetic But 1t Is
useless. Strange as il may seem 10 a French
man. the American public know something
about the Panama Canal. They are aware. for
instance. that what W. lee lc-srpS SAYS about
the treatment of thr Chl-rr4 iSycl b. not true; !;
that the problem of tha' river hI~ not been
solved: that the plan of lateral canals Is "uly q
suggestion that the whole difficulty ~'li com
front, the engineers. Similarly they are aware
that the original estimates uayy been cuor-
Iu,r.ly exceeded that i'm six wear. little more
than orc-,wclfth of the excavation has been
done. aud chat tlD easiest past; THAT the great
rock eat al Cul,brl hl, no, been more than
fourhcd that Ii the past rate of excavation
,,.rc doubled the work would still take twelve
wears; that the rate of work represented hy
VI. dc I.c--cp, is Il puioly imaginary rItr; that
the mortality j. much greater tam hc says;
that IN short. there Is 10 ground Nhatcycr luT
believing hI, statement that the Canal can b.
finished IN three years.
NJ. Wy-c indeed think, that br Introducing
a number of sweeping reform, I'm the a}mlni,-
trarlun and by rcarrmgIns the plans altosr lhcr
il wolld be- possible 10 accomplish the work in
six wears; but It Is not probable tIat any sucn
changes and reforms Will bee made during the
life of tho head of the enterprise. Tine pre-
sumption is that the undertaking will drII along
until public confidence proves too heavy 10 be
Longer buoyrd up by W. de LcSSrpS's ldcIl-m,
and that then there will be- "a tremendous crash,
carving ruin and disaster all over France. For
the worst ol the whole alalr is that whether
the Canal is Gnl~icd III three years, IN six, or III
twelve, it Is equally certain that II can never
nav; not even if il should obtain the
q OOO, 900 tonnage estimated 10y VI. dc
Ics,cps. and which is about double the estimate
of any other authority. \ canal the practical
blhty of which i, still in doubt after six years
of Labor and $ll2,OOO,OoO have been put into
it; which, even If practicable. may never be
finished and which, even if finished, can never
pay It's annual charges, to SAY nothing of
profits, Is really an enterprise altogether too
vcighty for the ldcalist finance and engineer
ing of NJ. Fcrdin ,nd dc Lcosrps.
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