The Daily bulletin. [volume] (Honolulu [Hawaii]) 1882-1895, 1886-11-27

SATURDAY. NOV. 27, 1886.
THE PANAMA CANAL.

Agent on the Panama Canal, has
made an important and hopeful re-
port respecting the Panama Canal,
which, the New York Herald says,
will be published in the next bulle-
tin of the American Geographical
Society. Mr.. Appleton says: "Now
comes the natural question when the
canal is likely to be finished and
open for navigation. While we all
hope, to please M. de Lesseps, that
it may be done in 1889, should there
be no commissions of nature or un-
expected hindrances, all the same,
looking at it philosophically, a few
years more or less can be but of
little significance. The canal is to
be built for all the nations of the
world, and to last as long as this
planet endures. AS soon as posi-
BILE it will be opened for ships of
10 feet to 20 teet draught, and then
with time will be completed to its
full depth of nearly 80 feet. The
idea of this is to lose no time in
earning some revenue from it. Next
comes the question of what it will
cost. Looking back at the deliber-
ations of the Paris Congress of
1879, one is astonished to find how
correct to day was their estimate
of the expense. 1t was then cal
culated that the total cost for, say
ten years of construction and main
tanning, with interest on the money,
would reach about S240, 100000.
In this was not taken into consider
alton the purchase of the Panama
Railroad, nor the erection of hos
pitfalls, habitations and many other
necessary expenses which cannot
strictly be considered as part of the
digging, but which run up to some
tens of millions. All this has been
done, and we'll done. The work is
completely under way, and the din
and hum of men and machines re-
sound from one end of the isthmus
to the other. Steam and human
labor to-day represent there a force
of 100000 men. Should the canal
cost $500, 000,O 900, it will easily be
worth that to the world and be q
fairly paying Investment to the
stockholders. In 1879 the traffic
through the Suez Canal amounted to
about 3,250,00O tons. 1t is now
nearly 5000, 900. The Congress in
1879 estimated, after study and
reflection, the probable traffic at the
Panama Canal in 1889 at $500, 900
tons. do not hesitate to state as
my personal conviction from the
great increase of trade that 10000
900 tons Of the outset is a fairer
calculation. Dues at s3 ton for
shipping alone will give a revenue of
$50, 100000. A glance at the map
of the world, or better still at a
globe, shows it will cause saving
in distance of about ten thousand
miles between the great ports of the
different nations or three times
across the Atlantic Ocean from
Havre to New York. South America
stretches much farther south TINA
Africa, and the Panama Canal can be
reached in straight line from ALMOST
any direction. An objection to the
Suez Canal is the long detours ships
are compelled to make at either end.
During the last few months the work
on the canal has been much sim
plified by giving it to five well-known
firms OF contractors, whereas before
there were not far from thirty in all.
These five syndicates report directly
to the administration of the canal
company, making arrangements with
the smaller contractors for work
they may sublet TO them. This has
involved some complications in rela-
ton to past agreements, but they
are being Strengthened out so that
all shall go smoothly in the future.
1t is in the interest of the contrac-
tors to work as fast as possible, for
they are paid so much a cubic metre
for soil excavated or dredged. 1t
is for the advantage of the canal
company to have the canal COM
pleted and open as soon as possible,
as this means saving of interest
ON the stock and bonds. So in
crease activity is the object Of all
concerned. OF the five firms OF
contractors three are French, one
American from New York, and one
Anglo-Dutch. Their contracts vary
from 100000 to 1000, 1000 cubic
metres, and the prices from about
40 cents to $3.50 per metre, There
remain in oil not far from O,OOO,.
600 cubic metres to be removed, the
cost of which can be put down il
round figures at 500, 900, 900, or al
average of 81 per cubic metre.