New-York tribune., 1890-03-31

dicatc, with $780, 600 behind it, should b
formed there ior the completion Of the canal
do not believe that the Government could resist
popular pressure in Panama. IL would extend
the time and arm the French with another chance.
At the same time it would undoubtedly he well
pleased to have the contract lapse SO as to open
negotiations on its own account with English or
American capitalists. AS the rcslduary legatee Of
the French shareholders, who have flung $780,
900 900 of bonds into the Panama ditch, 1t might
be in position to obtain q handsome premium
upon its stock In trade.
Here arises the question of the practicability
of the competition OF the canal with the widest
possible lines of divergence between the opinions
of the pessimists and :Ilc optimists. NJ Ecrges,
the acting director, 10 whom l was introduced by
NJ Boyd the courteous Editor Of " The Panama
Star and Herald assured me that there were on
the lsthmus no engineering difficulties when
could rot be readily overcome that the lresnetS
of the Chagres have caused less trouble than was
anticipated and could be easily controlled that
while the engineers were not wholly in accord
respecting details. there was substantial agree
mcnt on the cApcdcncy OF substituting locks for
s sn T1 dI e %cl Mas fnd sSs Ss
pendtare than 500 100000 NJ. Bergess
brother. one of the principal engineers, tOid me
Gus as they had been generally regarded, and thar
the canal could certainly be finished II the
requisite capital were provided; but not' ne
thought, for 100000, ,000-that would be too
cheap Mr. Reeves, superintendent OF the
Panama Railway, estimates the cost OF complet-
ing the work nj Sllb,OOO,0Uo. NonpeNl4
engineers. Oh the other hand, who are not EN-.
ploycd in the interest Of the company, have
stated that at least S3OO0OO,0OO VIII De re-
quired in order 10 open the canal Tor inter.
oceanic traffic. That estimate would increase
the nominal cost Of the canal to Sso0,ooo,ooo,
the bonds issued having had a face value or
$500 O00. 900 although $2sO,0OO,O00 probably
represents the actual amount of money which has
been sunk in the canal The pessimists assert
that not more than $50, ,OO0, 900 OF honeSG WORK
was ever done on the canal, S?OO,0o0, 900 having
been squandcred and flung away-the larger part
of it in France without its reaching the isthmus
at all. Here, again, they prove too much Tor theii
case for if only $50 000, 900 has been EXPENDED
on the canal. the cost OF finishing II WIZ not oe
$500, 900. 900, as they represent, Dut much
lower limit. This, however, they will not admit
but producing section maps of the lsthinus point
out that the mountain barriers have only peen
scratched as yet. and that with such meagr re-
suits to show for vast expenditures the whole
scheme is to be condemned as impracticablc ana
visionary One cause OF the variation in the es-
timatcs 1t must be added, Is Is the iack OF com
mon basis of calculation. The French engineers
are basng their figures upon n canal with locks
and an artificial lake somewhere in the centre
Their critics are calculating the cost OF much
more expensive work.
One Of the strongest objections TO the Panama
Canal is its lack Of adaptability to.salpg vessels
The Bay Of Panama is a great gulf, where the
winds are uncertain during long periods every
year. II is a sheltered quarter OF the ocean,
where. owing TO the coniguration OF the coast
sailing vessels frequently becalmed for days
II
in and out of the completed canal and not be
delayed in the bay. but sailing, vessels would
inevitably lose much time IN beating out OF
those stagnant reaches Of the Pacific In the
Nicaragua Ca>al the prevailing winds VIII favor
sailing craft and enable them not only to speed
through the lake. but 70 run out to sea a, all sea-
sons of the year without delay. This IS
ore of the chief advantages Of the alternative
route which American engineers have generally
preferred to the Panama line. Work on this
route was actively begun last October but has
been chiefly conliGed to San Juan del Norte, or
Grcytoyyn where q harbor will have to be made
by the building OF a long breakwater which VIII
prevent the inward sitting Of sand brought down
by the rivers. The Nicaragua line has been re-
peatcdy and deliberately surveyed by comreeno
experts, and the engineers now at WORK mere
know what they are about and VIII not repeat
the stupendous bunders which were made at
Pcnama by the French engineers owing 10 I'M
scientific field work The completion OF the
Nicaragua Canal, like that Of the Panama Canal,
denends upon the facility with which the relui-
site capital can he obtained.
What is needed is an American policy respec-
ing these canals At Panama there Is strohS
probability that an English syndicate VIII uln;
natelv undertake the completion OF the canal
after the French have abandoned the field. Iho
United States can anticipate European attempts
TO finish that waterway, and subsequently TO con
troll the political aud diplomatic action OF tho
Colombian Government This can he done rithcr
directly or indirectly. The Panama Canal can
be finished by an American syndicate VITA the
sanction of the Colombian Governments or the
Nicaragua Canal can he taken up in earnest.
ndcourtrIy supported with capital and pushed TO
speedy completion. No English or French syn
dicate will undertake work at the lsthmus, II
determined effort he made by the Americans at
Nicaragua to provide interoceanic COMMUNICATION
for the commerce Of the world CONGRATULATIONS
respecting the Monroe Doctrine may be rhetorical
and patriotic. but they do not furnish the coun,
try with definite canal policy. What is needed
is a definite basis of action. by which either ono
canal or the other may be built. shorter lines OF
ocean transportation opened for the Deneht OF
American trade. and the control Of the water
way resoutely asserted and maintained =,