New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1889-12-27
TBF PANAMA COMMISSION.

| NIuch wonder is expressed in certain quarters
that the collapse a year ago OF the Ta'lani"
| Canal Company should have been followed oy
so few sensational developments. Impartial Cd
servers of the progress of the enterprise from
its mention in 1881 were protuse IN pre-
dictions of widespread disaster, and the darkest
.uo,,r;es were drawn for the future of the
million or more victims of Nj. de LeSSepS
| chicanery and deceit, whose rum seemeu lneNi-
| fable when the French Governments refusal
TO guarantee the payment OF a new loan was
followed by the resignation OF the o1ilcers anu
the amendment of an official lqmdator. 1t Is
veu known that the $3.50, 000, 600 which have
been recklesslv souandered on the lsthmuS IN
the vain effort to make good eXtravagant prom
ises and avert final day of reckoning came
principally from the pockets OF the WORKING
classes of France and Spain. One OF the cher
props of the audaciouS promoter or the scheme
was based on the political influence OF
the masses involved, and with the failure OF
that resource the death-knell of his hopes was
sounded But with the strange faulty that has
throughout characterized their conduct the I'M
lucky investors are apparently slow to realize
their ruin. The name of their idol is nc longer
one to conjure with. Yet the report OF the IN
vestigating commission now on It's way 10 the
Isthmus is evidently awaited with confidence
that the situation will not prove so discourag-
ING as it has been made to appear
OF the nature OF that report, if the commits
| sioners are men of honor and integrity, there
can be. in a reflective mind, no two opinions
The receivers object is ostensibly to inform
himself of the true condition of the work, the
feasibility of its completion and the probable
necessary expenditure. If it should be found
that some part of the immense sum already IN
vested has not been altogether thrown away,
the Colombian Government will be asked to
continue the concession, and a new company
will be formed to pursue operations. Unless
this is done, the entire property will revert TO
the grantor of the concession. When 1t is con-
sidered that after an outlay OF $40, 600 IN
excess of the genuine original estimates, pre-
pared by de LesSepS's own engineers but gar
bled and perverted for submission to the pub
lie the most difficult portions of the work re-
main practically untouched that the control OF
| the Chagres River and the removal of the
mountain of solid rock at Culebra still con-
stitute inSuperable obstacles, and that much
of the costly plant brought from Europe and
! the United States has been rendered absolutely
worthless by misuse and neglect, it is not diff
cult to foretel the result of any honest inquiry.
The criticisms so airily brushed aside by NJ.
de Lesseps should appeal with renewed force
to the commission and candid declaration of
failure rascality and ruin apprize the defrauded
stockholders of what has been too long con-
cealed.
1t is perhaps as well that the final revelation
has been slow in coming and that the sufferers
have been thus enabled to prepare themselves
gradually for the shock. Napoleon once found
new opera effective in diverting popular in.
dgnation from one of his own miSdeeds, and in
this instance the Paris Exposition has doubt
less acted as a salutary distraction and served
to withdraw public attention from the impend
ing calamity. But the effect of this must soon
wear off. The Go ycrnment has wisely refused
to entangle itself in the champion "wildcat'
scheme of the century; and NJ. de LesSeps
abandoned in the hour of his greatest need
will 90 down to his grave amid the bitter re-
proaches of his injured countrymen.