Telegram-herald. ([Grand Rapids, Mich.) 18??-1892, 1891-03-01
HsAes Of al L<.ea1s Ps.eu. Govt Report Aug n. 1859
Roe! BB sx5:sz
ABSOLUTELY PURE
ABSOLUTELY PURE


charges Ola these vessels should &c - lew
- 10 induce the largest name~r possible
10 avail themselves or the beaetts u the
canal
.lhe question, thea, MAS: Ia what
way should this aid be rendered without
Involving . departure from our sstab-
hshed policy az stated by Mr. Cleveland,
aad without pesuaisry loss or entangl ling
alliance Tue only method that wss
suggested was the one adopted by other
Nations under like circumstances, and
especially by Great Britain in respect 10
the Suez Can al, namely, that the United
States should, in consideration of its
guarantee, secure such . control Of the
majority Of the stock a. TO enable II 10
protect the Interests OF its people. aud
such control of the expenditures en- the
work as certaialy 10 limit the obliga-
tion. OF the company 10 the actual coat
- -A@e-~-' - 80
These primary objects have been, n is
thought, secured in the bill now pend
ing, by al unconditional guarantee OF
payment of the principal and interest OF
the bonds Of the company bearing low
rate OF interest; by the application of
the proceeds of these bonds, under
the direction Of United States engineers,
to the work actually done; and By the
transfer Of $40, 000, 900 out OF 500, 00o.-
coo in stock TO the United States, with
the power to vote the stock and with
proper representation on the board CT di-
rectors. These and other provisions
Of the bill reported will. 1t is
confidently believed, not only secure the
completion Of the work at cost, but will
place 1t in the power OF the United States
TO protect its citizens in the full rights
conceded by Nicaragua and Costa RIGA,
and will prevent the management Of the
work from falling into the hands Of men
who are Indifferent or hostile to Ameri-
can interests in that portion OF the
world"
The senator argues that the bill deals
justly with the American citizens who
took up the work after the United States
had declined it, and at the same time
does not pledge the credit Of the govern
ment TO the furtherance OF personal in
terests. 1t provides that the promoters
of tho Nicaragua canal should be reim-
bursed only for the actual cost to them
of tho work already done, and that
this cost should be ascertained by
proper officers of the government and
paid in the bonds OF the Maritime COM
pany, guaranteed by the United States.
The Maratime Company had agreed
with the Construction Company to give
the latter 81, 600, 900 in stock, in consid-
GRAFTON of concessions from Nicaragua
and Costa Rica, transferred by the Con-
struct:on to tho Mararime Company. This
is cut down to 100000 the sum Of
Sc, 00O, 900 I'm bonds must 60 to Nicaragua
and S., SOC, 900 to Costa Rica This would
be all the outstanding stock. The two
companies objected strongly at first but
finally agreed to this arrangement.
The article which is the most important
of any, that is to appear In next months
reviews enters into . full discussion of
the financial aspects of tho project. 1t
concludes as follows:
''To reject or to neglect the opportu-
nifty now offered would leave this enter
prise to the chances Of failure, or trans
fer it's control to commercial rivals
whose interests and fixed policy would
lead them to convert a great highway of
nations into dependency more formid-
able than Gibraltar and more trouble
some than Canada. A commercial COM
pany in India has been converted into a
vast empire; the single port of Hong
Kong is made to dominate a great popu-
lation in China; the control OF the Suez
Canal and of Egypt has been purchased
in the stock market-these are sufficient
warnings to the American people to avail
themselves of the opportunity now open
to them to protect their coastwise trade
from interruption, and at the same time,
with little cost and no risk, to contribute
to the world one OF the greatest achieve
ments of mind over matter that has ever
been undertaken by man."
Van Hcuten's Cocoa-Largest sale IN
the world