The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1889-02-16
THE NICARAGUA CANAL.

THE NICARAGUA CANAL.
There are several Democratic Con-
gressmen who would feel better if some
body would lead them out behind the
Capitol and administer 9 kicking.
When Governor Hill was in Washing
ton the other day Secretary Whitney
entertained him, inviting the Demo
Gratis in Congress to pay their respects
to the distinguished New Yorker. A
number accepted the invitation, and
while they wore enjoying themselves
with the probable nominee of the Dem.
ocracy for the residency. the Mica
ragua Canal ii was passed, and was
passed Wit at certain clause which
the abse> ees wanted inserted for the
especial protection Of the United States
and Of INVESTORS. They desired thstit be
made q requirement to print on the
company's stock, bonds and obligations,
notice to the effect that the United
States were in no respect responsible
for or interested in the finances of the
company.
AS before shown in these columns,
the Nicaragua Canal scheme does not
have q straight" and upright appear
ance. The project is not timely; it is
too early or too late. No one will claim
shat there is occasion for two water
ways across The isthmus. One su,h
way will be ample for the next fifty
years. 1t Ia doubted that the tolls on
the commerce through e canal, if they
shall be reasonable, will be more than
enough for the next ten years to pay
the operating expenses and cost OF
repairs. With two canals there will be
losing business for both, az there will
not be the traffic to maintain them.
If De Lesseps' big ditch were aban-
doned. the Nicaragua scheme would be
timely and proper; but De Lesseps' canal
10 by no means a failure. Tie projectors
and original owners may be out of it,
and the money which they have in
vested may be lost to them; but it does
not seem probable that the canal will
bs permitted to lie in its half-6nished
state, after so much has been done. 1t
ia far more likely that new hands
will take control, and, having obtained
what has been done ''for song" will
complete the great undertaking. The
indications are 80 strongly in this
direction, that it would seem to be fair
financial wisdom to wait, at least until
it is seen what will be the fate of the
Panama Canal.
The Nicaragua scheme has been mani.
pulated ss if all were not right with it.
If the orginators had the confidence
and the money which they profess,
why have they been 30 eager to get an
incorporation through the United States
Congress. They claim that they do not
want government assistance, yet
nothing would satisfy them except q
Congress-made company. They have
maintained a lobby at Washington,
session after session, and must have
spent much money for getting what
can be of no benefit to them if the
government is not to be held morally
or legally responsible for the doings
of the company. A State Legislatures
could have incorporated the company
or it might have been incorporated as
any other company under the laws of
any State. But nothing but United
States Incorporation, would answer.
The Inference is that the projectors ex-
pect to get money by conveying the i'm
preston that the government is back of
the project. and will ses it carried
through to success.
For the sake of the reputation of the
United States. it is to be hoped that the
forebodings of evil are unfounded, and
that the motives of the Nicaragua Com.
pany are, honest and honorable. The
overnment has been caught in too
many of the traps laid by sharpers. and
scandal has too often followed.